Saving money should not mean reducing the things you like. In fact, with the right strategies, you can continue to live your life while increasing your savings.
The secret lies in the rationalization of your expenses – find more intelligent ways to manage your money without sacrificing what matters most. Small adjustments to hidden savings opportunities, these hacks of geniuses will help you save more without a major lifestyle overhaul.
Check all the due dates on your credit cards, electricity, mobile phone bill, Wi-Fi / Cable Bill and even more and see which of them can be negotiated, according to Andrew Lasky, principal director of Marketing and communications in Moneylion.
“Call your service providers and ask for discounts, especially if you have been a loyal customer. You can also speak with suppliers to see if you can go to a lower cost plan or subscription to save $ 10 to $ 50 per month. »»
A simple telephone call could save you money without having an impact on your daily routine.
According to Dr Cameron Sepah, Executive Coach, Expert in Behavioral Finance and CEO of Behavioral Finance and CEO of Behavioral Finance Maximus. He urged to institute a seven -day waiting period on discretionary expenses of more than a given amount, let’s say $ 100.
“Waiting for gratuity replaces the emotional choice and guarantees that you really need the product. More often than not, the desire passes and you save money without even realizing it. »»
Many people find it difficult to save because they undergo a psychic “loss” when they transfer funds from their current account to a savings or investment account, SEPAH said. The trick not to live this is therefore to automate savings before you even receive money in your expense balance, said SEPAH.
“Organize an automatic transfer of 10% to 20% of what you earn in a Savings account or investment account -This achieves “invisible” savings that you do not feel as a deprivation, “he said.
Most people waste money on dormant subscriptions, but rather than forcing yourself to cut them, sepah has recommended that you check your recurring payments every three to six months and use the 80/20 rule: keep 20% of the subscriptions you use and cut the rest.
Even by canceling two to three dormant services, you will save hundreds of dollars each year, he said.
Whether for grocery store, eating or Even online purchasesUse money’s applications and programs to earn money on your regular purchases, said Lasky. Some applications will automatically look for coupons for these purchases. Applications and credit cards With advantages, the advantages can help you save on the things you are already buying, without modifying your purchasing habits at all.
Price anchoring is the way retailers perceive goods to you as a good deal, said SEPAH. Flip The Switch by creating your own anchoring price, or “psychological anchoring”, for discretionary expenses, said SEPAH.
“Before buying coffee, for example, ask yourself:” I would prefer this or $ 50 more in my investments at the end of the year? ” Supervised in this way, small expenses are not so attractive, leading to Natural expenditure reductions Without feeling confronting.
Behavioral studies show that gamification stimulates motivation, said sepah. Thus, you can create a weekly challenge where you select a category like eating or shopping online and challenging yourself not to spend as many consecutive days as possible.
“Give yourself a free experience, not something more to buy, when you reach a milestone. Savings are a game to play instead of a task.
Consider following your expenses for 30 days to control current expenses and Future budget objectivesLasky suggested, whether by application or by hand.
“To facilitate the monitoring of expenses, try to choose a payment method, such as a debit or credit cardSo the total is easily available. Once you see where your money is going, consider more means to save. »»
Instead of your dollar expenses, price in hours, said SEPAH. “If you earn $ 50 / hour and you see an impulsive purchase of $ 200, ask yourself:” Is it worth 4 hours of my time? ” This subtle change dissuades impulsive purchases and makes you a more deliberate of silver decision -makers. “”
Whether it is grocery store or technological gadgets, always compare prices before making a purchase, said Lasky. “”Online tools and browser extensions Can help you follow price reductions and identify the best offers. You can keep your lifestyle habits, but with the benefit of smarter expenses. »»
There is no need to spend on entertainment while many free or low -cost activities are available in your community, said Lasky. Outdoor adventures (Hike, parks, etc..) For library events, you can enjoy your favorite hobbies without breaking the bank.
“You can consult social media or other applications to search Free local events. Lifestyle should not mean spending more when there are endless free options to appreciate. »»
These hacks show that the savings of money does not require a Huge lifestyle overhaul. By being a little more aware of your expenses, using technology to your advantage and Take advantage of the awards and discountsYou can save considerably without having to abandon the things you appreciate the most.
