How to save money

To save money you don’t have to lead the life of a bum.

We all know that we need to improve in 2 aspects to save more. Earn more or spend less.

Today we will see 70 tips to do it better.

Pay yourself

Paying yourself first means putting a portion of your income into savings or an investment before spending the money on day-to-day expenses. This means that you are building an emergency fund and preparing for the future, instead of spending everything right away. Plus, setting aside some of your income early can help build healthy savings habits and develop financial discipline.
In addition, paying yourself first ensures that you always have cash available for future investments and avoids having to take out loans or use credit cards to meet unexpected expenses.

Travel tips

  • Plan Ahead: Booking flights and hotels in advance can help you save money compared to booking last minute.
  • Use Price Comparison Sites: Using price comparison sites to compare flight and hotel rates can help you find the best deals. (skyscanner…)
  • Avoid peak seasons: Traveling during the off-season can be cheaper than during the peak seasons.
  • Look for Last Minute Deals: Keeping an eye out for last minute deals can help you find deals on flights and hotels.
  • Use the right credit card: Using a credit card that offers points or cashback on travel purchases can help you save money.
  • Booking flights and hotels together: Booking flights and hotels together can help you save money compared to booking separately.
  • Use public transport: Using public transport to get around once you arrive at your destination can help you save money compared to renting a car.
  • Book an apartment with kitchen: this allows you to buy food and cook it, instead of going to eat outside.
  • Don’t think that low-cost airlines cost less anyway: sometimes the flight + the luggage + the distant airport lead you to spend more

Apps to save money

If you are looking for ways to save money in your daily life, apps can be useful tools to help you manage your budget and reduce expenses. Here are three apps you might consider:

  • TooGoodToGo: This app is perfect for those who want to save on food and fight food waste. TooGoodToGo allows you to buy unsold food from restaurants, cafes, bakeries and supermarkets at discounted prices. Simply search for shops or restaurants in your area that offer unsold food at the end of the day or before closing, book and pay directly from the app, and then pick up your order at a discounted price. This allows you to save money on food shopping and help reduce food waste.
  • Splitwise: If you share expenses with roommates, friends or family, Splitwise is an app that helps you keep track of all shared expenses in an easy and organized way. You can create shared groups, add expenses and the app will automatically calculate who owes what to whom. Plus, Splitwise will send you reminders and notifications for overdue payments, helping you avoid misunderstandings and problems with your roommates or friends.
  • Generic budgeting app: There are many budgeting apps available, such as Mint, YNAB (You Need a Budget), and PocketGuard, that help you track your expenses, create a budget, and monitor your income and expenses. These apps allow you to set savings goals, categorize your spending, and receive notifications when you exceed your spending limits. You can customize your budget to suit your needs and get a clear overview of your finances in one place. Honestly I don’t use budgeting app because I have an excel file suited to my needs, but they are used by a wide range of people.

Price tracker

A price tracker is a tool for monitoring the price trend of online products over time.
Keepa is one of the most popular price trackers for Amazon with several features.
These include historical price overviews, customizable alerts, vendor comparisons, and detailed product information.
With Keepa you can track product prices over time, receive notifications when the price reaches your savings goal and compare offers from different sellers.
Keepa helps you save money by identifying the best deals when shopping online.

Cashback

Cashback is a service that offers the possibility of receiving a percentage of the money spent when shopping online or in physical stores.

One of the benefits of cashback is that it’s an easy and automatic way to save money. It requires no extra effort or changes in your lifestyle. Simply sign up for a cashback service, make your purchases through their website or app, and rack up cashback.

Among the best cashback services available on the market, we find:
Honey: Honey is a browser extension that offers cashback, as well as providing discount codes and special offers. Honey has a wide range of partner stores and offers an intuitive interface for its users.
TopCashback: TopCashback is a cashback service that offers cashback across a range of stores and shopping categories. It also offers a “no frills” cashback option that allows you to withdraw your accumulated money without any restrictions.

However, it is important to note that cashback services can vary in terms of the percentage of cashback offered, payment times and restrictions. Some may have withdrawal limits or deadlines for using accumulated cashback. Therefore, it is vital that you read the terms and conditions of each cashback service carefully to ensure that you get the maximum possible benefit.

Also, I always advise you to look for the best service available in your country. Depending on your country of residence, there may be other cashback services that are better suited to your needs or with a greater selection of local partner shops.

Save money while shopping

Saving money while shopping is a common goal for many of us. Fortunately, there are several strategies that can be implemented to reduce costs and optimize your budget.

Here are some tips to save money while shopping using different strategies:

  • Make a shopping list: Before you go shopping, make a list of the items you really need and try to stick to it. This will help you avoid impulse buys that can drive up your spending total.
  • Buy in bulk: Buying non-perishable or long-life items in bulk can help you save money in the long run. Look for deals on bulk or bulk products and take advantage of larger bundle discounts. Also, consider buying products shared with friends or family to split the cost and save even more.
  • Take advantage of promotions and coupons: Look for special promotions or discounts on products you frequently buy, and use coupons or discount codes whenever possible. Sign up for store loyalty programs to get additional discounts or benefits. Also, look to purchase products on sale and take advantage of “buy one, get one discount” or “3×2” promotions.
  • Shop on a full stomach: Shopping on an empty stomach can lead to impulsive buying of unhealthy foods or snacks. Eat before shopping to avoid buying extra or unnecessary items. Also, avoid buying fancy foods or expensive extras that you may crave just because you feel hungry while shopping.
  • Plan meals: Plan your weekly meals in advance and prepare a list of the necessary ingredients. This way you will avoid buying excess food and waste less. Try to use similar ingredients in multiple recipes or use leftovers in new dishes to avoid waste and save on ingredient costs.
  • Buy White Brands: White brands or private label products are often cheaper than more well-known brands. Consider purchasing store-brand or private label products, especially for staples like pasta, rice, milk, and other non-perishable foods. Many times, the quality is comparable to name brand brands, but at a lower cost.

Comparison sites

Comparison sites are online tools that allow users to compare, and in some cases switch, different products or services. These tools have become increasingly popular in recent years, as they offer a quick and effective way to compare rates for various products or services and make informed decisions. The majority of services compared are Tv, telephone, energy, internet, insurance, loans. As with cashback sites they can vary depending on the country or market sector. Therefore, I advise you to always look for the comparison site that best suits your needs or with a greater selection of products or services relevant to your country of residence.

Save money on subscription

Sharing subscriptions with Spliiit allows you to save up to 50% or more on the total cost. For example, by sharing a subscription to a streaming service with 4 other users, you could save up to 75 euros a year. Spliiit offers a secure and user-friendly platform to manage the sharing of subscriptions, with payment functions and deadline management. It’s easy and convenient to save on subscription costs without giving up the desired services. In addition, Spliiit allows you to share different types of subscriptions, such as streaming services, software or apps, cloud storage and more. You can try to see if the service you need is on it.

Behaviours to change

To save money and improve your financial situation, it’s important to identify and break some bad habits that can be costly in the long run. Here are some habits to break to save money:

  • Smoking: Smoking can be one of the most costly habits in existence. Cigarettes are expensive, and smoking a pack a day can cost you around €2,000 a year. If you really want to save money, I advise you to quit smoking or reduce your cigarette consumption. Not only will you improve your health, but you’ll also save a significant amount of money in the long run.
    If you don’t succeed at first, the advice is to at least switch to tobacco. If you think rolling a tobacco cigarette is for “kid”, think again. Roll your own tobacco can be much cheaper than packaged cigarettes and often taste better.
  • Gambling: Gambling, such as sports betting, lotteries or casinos, can be an expensive habit that can easily get out of hand. Not only do you not win anything, but it can also lead to unwanted tax consequences. For example, around 50% of the price you pay for a scratch card goes in taxes. Moreover, if you win more than €500, you may have to pay another 20% in taxes. Furthermore, only 1 out of 13 scratchcards offer a prize higher than the price of the ticket, meaning that it is unlikely that you will make money playing scratchcards. But if you want to pay taxes for all of us, go ahead. Remember gambling is the tax on idiots.
  • Alcohol Consumption: Drinking alcohol can become a considerable expense in the long run. I learned to better manage my alcohol consumption to save money. For example, I noticed that I sometimes spent significantly more on booze than on food on a night out. A €6 pizza could easily turn into spending €19 on alcoholic beverages such as spritz, wine or drinks in nightclubs. To save money, I try to find fun and less expensive alternatives for my free time. For example, I suggest you to organize parties and bringing along drinks from supermarket like cold beers along with snacks. Also, when you buy booze at the supermarket, keep an eye out for deals. alcohol doesn’t go to waste.
  • Impulse Shopping: Impulse shopping can be an expensive habit. To avoid spending money impulsively, I’ve established a personal rule: anything that costs more than €20, I don’t buy right away. Instead, I wait at least 24 hours before making a purchase decision. Often, meanwhile, I forget about the item or realize I really didn’t need it. This has helped me avoid impulse buying of useless or superfluous items, thus saving money in the long run. I found that many of the impulse purchases I made were just junk or items I didn’t really need. By waiting 24 hours before making a purchase, I’ve learned to distinguish between momentary wants and real needs, thus avoiding impulsive spending and saving money in the process.

In conclusion, saving money is a step to reach important goal for many of us. We saw there are many effective ways to do it. From advices on this post you now have a range of strategies to get the most bang for your buck. Remember to carefully evaluate your personal needs and tailor your savings strategies to your specific circumstances. Following these tips and incorporating savings habits into your daily life can help you reach your financial goals and manage your money more wisely. Always remember to look for alternatives that best suit your country of residence and your specific needs. Happy savings!


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