5 Simple Ways To Save Money

Since saving more money tends to be a repetitive topic in personal finance, we decided to do some research to help you do just that.

Here are 5 simple, yet highly effective things you can start doing today to save more money.

1.Shut up!

We know what you're thinking, “another blog telling me not to eat out so much”. Well, you're right. Here we remind you once again to reduce meals outside the home. Studies show that people spend on average around $3,000 USD a year doing it.

The surprising thing is that most of these studies are based on people eating $10 meals. Which, let's face it, is not the case most of the time, especially when you factor in tips.

I recommend that you take some time to calculate how much money you spend per year eating out, it may surprise you. In my case, it was much more than $3,000 USD so I already know what I have to work on next year.

2.pay yourself first

Paying yourself first is a budgeting strategy that has been used for a long time. The main point is to plan your expenses based on your savings, not the other way around.

That is, saving comes first, always. If you earn $1,000 per month and want to save $200 per month, then you are restricted to spending only $800.

Most people, when planning their budget or trying to save money, deduct their expenses first and only save what little they have left (if any). Applying this mindset is a great way to force yourself to save money and only spend it on what is really needed.

3.Don't use your credit card so much

It turns out that accrued interest isn't the only cost of using a credit card. Studies show that using a credit card to pay for all your purchases can cause you to spend more money.

This means that even if you pay your credit cards on time and have never paid a single dollar in interest, paying off with a credit card can still cost you more than you think. To mitigate this phenomenon, try using cash or a debit card to pay for half of your purchases.

The idea behind this is that using cash will make you think more about what you are buying and the cost of it, which will eventually prevent you from making impulse purchases.

4.Create a budget and review it periodically

Yeah, we all know it, and we all hate it. No one wants to spend a Saturday morning creating a personal budget, let alone spend time reviewing it every month.

However, this habit will help you better understand your finances and discover things that can be adjusted to help you save more money. Definitely creating and maintaining a personal budget is one of the best ways to save money.

There are many free personal budget templates online that can help you get into this habit. Spend some time doing this, your wallet will thank you!

5.Eliminate Small Costs

How many small and unnecessary things (< $5 USD) did you spend money on last month? Without realizing it, we tend to buy a lot of low-cost items thinking that we are not really spending a lot of money.

These can include things like buying a cup of coffee every day, a cake, a can of soda, in-app purchases, etc.

Although, individually, these may not seem significantly expensive, the cost of buying them will often start to add up. Try to work to eliminate these small costs from your spending habits. You will definitely see a difference in the amount of money you have left at the end of the month.


Saving money can be a challenging task; especially nowadays where we have so many things that invite us to spend money easily.

I invite you to work on creating healthy financial habits that lead to better financial health. If you have any suggestions for other ways to save money, write them in the comments.

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