Let’s face it, there are things we all could be doing to save a little bit more money each year. The simple things you are spending your money on might surprise you when you add up how much they are actually costing each year.
Here are five simple ways that you can cut back and have a little extra for your dream vacation, emergency fund, or whatever need you seem necessary!
Slurping Up Beverages
It might sound silly, but according to Time magazine, the average American household spent $850 a year on soda. By opting out of soda and drinking water, you will save money. Soda isn’t the only drink culprit sucking our money away sip by sip. USA Today reported that those people who buy coffee every week will spend over $1,000 a year on coffee. Simple way to save money, if you have to have your coffee, is make your own.
When it comes to drinking more water, that doesn’t mean switching to bottled water. The Water Project explained that $100 billion is spent on bottled water around the world each year. Instead of buying water, take a bottle with you to fill up. Not only will drinking water save you money, but it will help you become healthier and feel better.
Slid Into Drive-Through Windows
The habits of American’s have changed over the year. According to CBS News, children often recognize the McDonalds sign before they can say their own name. Forbes reported that the average American eats out for lunch twice a week. Each time costs around $10. By the end of the year, that is over $900 you have spent on lunch! By choosing to pack a lunch and eat dinner at home, you will be saving money and eat healthier.
Splurged on Entertainment
Entertainment is very much a part of our lives. In fact, Wall St Cheat Sheet reported the average American spent over $2,500 a year on entertainment. The average movie ticket now cost over $8 per ticket. This doesn’t include drink or popcorn which also have a very high mark-up. Instead of spending money on going to the movies, find creative and fun things to do with your family.
Swaying From Your List
Grocery stores are one way we spend money without even thinking about it. The sales suck us in to buying things that weren’t on our list. Granted, the sales can be a good way to save a little bit of money, but be cautious about the items you are buying. If you are looking to save money, make out a shopping list and stick to it. One suggestion is to go grocery shopping when you are in a hurry. That way you won’t buy more than you actually need or spend money on items you find while you are wandering around the store.
Slipped Away Through Using Cards
Go back to an older time, before debit and credit cards. Back to a day when cash is what was used. If you didn’t have the cash, you didn’t buy the item. Using cash for your basic needs is one way to help you avoid overspending. Wise Bread explains that using cash to make purchases help you better manage your money and understand more fully what is a need and what is a want. Dave Ramsey explains that there are times when using cash isn’t the best option, but for the most part, using cash is a great way to help you avoid getting into debt.
Simple Ways to Save
It doesn’t require making drastic lifestyle changes to find ways to save a little extra money. If you need to cut back, consider these simple options to help you save more of your hard earned money.