I am sure you’ve heard plenty of advice or tips being shared online on ways to begin saving and what you should do to save more. The advice could be specific to an area like, savings on meals or savings on entertainment.
However sometimes the suggestions or tricks that you read about is difficult and tedious to implement, or it might not be applicable to your current circumstances.
This is why I am sharing 6 of my very own ways to begin saving. They are basic and general tips that you can immediately begin using to help you save in your everyday life!
6 Ways To Begin Saving
1. Bring Your Own Water
Whenever I head out, I always bring my water bottle with me. This doesn’t have to be a very big bottle, just something that will fit into your bag.
This works for me as after a meal, I don’t have to spend that $1 or $1.50 on a drink. If you haven’t tried this, you can easily save $20 to $30 more a month!
2. Eat Out Less
I do try to have my meals at home if possible (I do admit, I still go out from time to time) as it is much more cheaper compared to eating out.
If you cook for dinner, try to cook a bit more so you can have the leftovers for lunch tomorrow and you have to wash lesser pots and pans! (I don’t really like doing the dishes)
If you enjoy cooking, try to pack your own food for work! Look towards meal planning and you can save tons, especially if the food options around your area are all pretty expensive.
3. Stop Snacking At Night!
I’m trying to follow my own advice. I have this habit of snacking at night, normally when I’m watching my shows or videos.
Snacking at night doesn’t have benefits and it’s a pretty costly “habit”.
Your body has a shorter period of time to digest your food before you sleep and this can build into a habit where you eat not because you’re hungry, but because you’re used to it! Currently I’m using fruits as substitution if I’m hungry at night as I try to cut out this bad habit.
4. Buy Only When It’s On Offer/Discounts
I tend to frequent the same shops and use the same brands, so I have a rough idea when they tend to hold their sales. If I’m buying something online, I will search for discount codes or coupons that I can use(for online shopping, this is quite common)
So unless it is something that I really need urgently or else I’ll just wait for the sale to come around. This is an easy trick, however you need quite a lot of discipline for it to work.
There is always the temptation of buying it right away but you can save quite a bit if you wait!
5. Use Public Transport
Singapore is a pretty well connected area, you can get from place to place using either trains or buses. I rarely take a cab or Uber unless I need to be somewhere urgently.
I have some friends who would frequently take cabs because they don’t want to squeeze but this is just one of the reasons why they don’t have any savings.
A single ride can be easily 5 to 10 times(depending on the distance and period) the cost of a bus or train ride. It just doesn’t feel smart to me and if you’re serious about saving you have to cut down on these unnecessary costs!
6. Grouping Chores/Tasks Together
Whenever I have any chores or shopping that needs to be done, I try to do them all in one go. For example:
Returning my library book, buying some new stationery and collecting my package from the post office.
I would do them all in one trip or on the way when I’m coming home. I try to group my tasks together as this saves a lot of time and money that would be spent on travelling.
The Right Mindset To Have
Here is a different trick to save more. (Not part of the 6 ways to begin saving) It is effective but might not be considered as easy for many people.
Consider this, if you want to save more, you have 2 choices. The first way is to increase your income. The 2nd way is to cut your expenses. Which is the easiest method and you can do it immediately?
It’s the 2nd way! Cut your expenses! (Check out this article from Jim)
It takes time and effort to increase your income but cutting down on expenses is something everyone can immediately begin working on!
These are my 6 simple ways to begin saving that I use in my life to save a bit more money. Getting started is always the hardest, but once you get past the initial stage, it’ll become second nature to you. It’s a constant struggle between what you want now and what you want most! Good luck and keep working to make it happen!
Thanks for reading, I appreciate it! Let me know in the comments:
- Have you heard of any unusual but effective method to save more?
- Do you have any bad spending habits that you would like to change?
- Is there any one action you can take right now to increase your savings?
I recently launched a course teaching the basics of using Technical Analysis to view and analyze stocks through their charts! If you are keen on learning about investing and how to begin, you should check them out!