Inflation, the rise in prices of largely everything, has caused a large shift in the cost of goods and services. The has left people worried about their money. Groceries have become one of the largest amounts of people’s bills so budgeting seems nearly impossible for many. This causes many people to not put any money away in savings or in case of emergencies.
With this in mind, it’s important to remember that every little pound or dollar that you can save is a part of your future that you are building. Consequently, you can then put more towards your savings goals, such as that sandy beachy holiday, that work gadget or your investment accounts. Ready to start maximizing your savings? Below are six everyday ways to save money that you might not have thought of.
1. Amazon – Almost New
One of the best kept secrets on Amazon is the “Almost New” or “Good” condition products. Essentially these products are identical to what you would have bought had you purchased it new, but these are at a cheaper price. The reason? They have been either gently used or the packaging has a little blemish. With this being said, Amazon guarantees that the products are quality and are exactly as described. What does this mean for you? A brand-new product for not quite a brand-new tag. Not only does this support a more sustainable shopping habit, but you can stretch your dollars or pounds elsewhere – for other financial goals or just for fun. Next time you’re shopping for a must-have on Amazon, make sure to take a detour to the “Almost New” you won’t regret it – and neither will your wallet!
2. Pay with Cash
When it comes to budget management, making the switch from cards to cash for your daily expenses might seem a little archaic in our digital age. This however, is a powerful tactic that will give you immense control. When you open your wallet, you’re used to seeing just numbers on a screen that feel abstract. But now, you’re faced with hard, tangible money that you can actually watch decrease each time you make a purchase. Dealing with your cash money helps reinforce the psychological obstacle against overspending. We tend to be much more cautious over items that we can physically touch and feel.
Consider it a diet for your spending habits. Much as you’d reach for a salad instead of a burger to keep within your calorie limit, using cash prompts you to pause and think about whether this purchase is really necessary. It’s an exercise in self-awareness and discipline, the two key elements of good financial management.
What’s beautiful about this is that it is so simple, yet unbelievably effective. By sticking to a fixed cash budget for the week, you are effectively putting yourself on financial leash. This ensures that you don’t live beyond your means. This practice not only saves you money, but it trains your mind to a more deliberate and conscientious approach to spending. Experiment with it, and watch the transformation in your spending habits and (more importantly) your savings account.
3. Opt out of Marketing Emails
As we become increasingly more connected in our digital world, the constant stream of marketing emails flooding our inboxes. This can be both bewildering and overwhelming. Have you ever been tempted by their flashy ‘limited time offers’ or ‘exclusive deals’ just when you’re trying to save money? You can see where opting out of marketing emails quickly becomes a money-saving no-brainer. It’s not just about keeping your inbox tidy anymore, you’re actively working to avoid that impulse buy.
Every marketing email is designed to get you to . While scoring a deal feels good, ask yourself, how many of these purchases were planned? Often leads to unnecessary spending that can outweigh the discounts promised by these offers. Opt out from the very beginning, and you remove this temptation from your life—and your budget.
By saving money, reducing temptation and taking control of your finances, you can spend smarter.
Not only will clearing the electronic cobwebs from your accounts protect your wallet from impulse buys, you’ll also organize your digital environment. In addition, this will save time and reduce stress in the process. With fewer distractions, you can concentrate on the messages that truly add value to your life.
4. Buy sale items in bulk.
Everyone is familiar with the savings to be had by shopping at a large retail store. However, there is a way to take those savings to new heights. Make a list before you go and stick to it rigorously, and watch your unnecessary expenditure melt away.
Stocking up on a great sale item isn’t just for big families. Whether you’re dividing a ton of fresh meat into portions or amassing an armoury of canned goods, your grocery bill will thank you. Sales come and go—plan ahead, and you can control your portions and grow your savings.
In addition to the savings and convenience, buying in bulk is also better for the environment. This reduces waste and carbon emissions. Opt for larger quantities when it means reduced packaging waste and fewer trips to the store. Save the planet (and the cashier a few extra hours ringing up your 100 packs of gum) with a few smart bulk purchases. Pick up items on sale for bulk savings. Take advantage of closeout prices to stock up on essentials and avoid paying full price later. You’ll keep grocery costs down and help keep waste out of landfills for a win-win!
5. Order your groceries online.
But on the topic of avoiding impulse buys, you know what’s an even easier way? Removing the temptation entirely by having someone else handle the shopping duties for you. It might seem a little backward to pay someone to shop for you. However, this strategy avoids the lure of impulse buys. When you opt for grocery pickup, your chances of impulse buys are essentially zero. This is indeed the desired outcome, rightly so, as you only get what you need.
In fact, it’s far less complicated to stick within your intended budget when you aren’t physically strolling the aisles. Once you’re shopping online, you can see your running total. This is something you are not privy too as you do when you do a lap of the supermarket. It’s basically the equivalent of a game with a running score—this time, however, the objective is to keep the score down! You’re in charge here, making strategic decisions about what stays in your virtual cart and what doesn’t based on what’s important, as well as how those choices sit within the framework of your budget.
It’s a game-changer for those of us trying to squeeze every pound or dollar: You’re keeping your spending as frugal as possible, but also not missing out on what you need. So many of us are playing make-or-break with every shop. This one’s a no-brainer: No more of that horror show when you reach the checkout and find that you’ve somehow gone dramatically over your budget. This way, there’s no nasty surprises; just a clear view of where you’re at, at all times.
6. Don’t be afraid to try store brand products.
These days, store brand name products are the unsung heroes of the grocery aisles. They’ll never enjoy the same limelight as the big name brands, but they come from some very same reputable sources and are often a time even produced by the big brands.
Store brand products are a risk-free way to try new products without sacrificing quality in the process. We’ve all bought and instantly regretted that decision after spending a bit more on the big name brand and assuming the product would be a little better considering the higher price tag. Store brand products consistently challenge this assertion, offering a “satisfaction guarantee” on every product.
Try it out and if it’s not for you, they will take it back, no questions asked. In the case that you prefer to stick with the big name brands, you won’t lose a penny due to the countless store brand products that function equally well. But how can everyone love or discover a favourite store brand if no one gives them the chance to shine? So ignore the store brand stereotypes and start letting them show off how great they really are, showing everyone how they offer everything and more, without one thing…they cost less.
Additional Tip: Plan your meals around sales and coupons.
Get the weekly ad out or open up your favourite grocery app and start planning that grocery list. Make sure to plan meals for the week around all the available sales for the greatest discount. It is not only important to drop the grocery budget a bit, but it also is a great opportunity to try a new recipe. This is an opportunity to swap out ingredients to similar recipes, so you can use different types of cheeses in those enchiladas without paying a handful of cash for a little bit of cheese. This saves time and money by using recipes that allow extra leftovers to freeze for future use.
The Savvy Savings Blueprint by The Academy for Professional Intelligence®
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