Most people don’t make any serious efforts to save money because they think that it’ll be too hard, and too time-consuming, or because they believe that any savings would be so small as not to be worth the effort. The truth is that it is perfectly possible to make big savings by making small, simple changes.
Don’t believe it? Check out these small changing that can add up to big savings, right now:
Saving Loose Change
Most people treat loose change like it’s nothing. They don’t think twice about tossing pennies on the floor or frittering their change away on candy bars and overpriced coffees- they just want to be rid of them. However, change isn’t nothing. If you save all of your loose change for the year and then take it to the bank to have it changed into bills, you will be amazed to find that you’ve saved hundreds of dollars without any real effort at all!
Turning Down the Thermostat
Most of us wouldn’t notice a change in our comfort levels if we were to turn our thermostats down by a degree or two, but we would certainly notice a difference in our power bills! In fact, you could save as much as 10 percent off your bill just by turning the thermostat down by 3 degrees. It has to be worth it for that, right?
Cutting Your Shower Time
Long luxurious showers may be a favorite indulgence, but they don’t half waste water and run up your bills. If you take a really long shower, even just cutting it short by a few minutes could save you a significant sum of money over the years.
Take Your Own Lunch
How much money do you spend on lunch every day? $5? $10? Think how much you could save by brown bagging your lunches for a fraction of the cost. If you spend $5 a day grabbing lunch on the go, you could at least half that amount and save as much as $650 a year. If you spend more than $5 a day eating lunch, the saving could be even bigger!
Getting Advice on Your Taxes
A lot of people are spending more on their taxes than they really need to, which is why it always pays to consult a tax expert who is likely to have comprehensive solutions to your tax problems, man of which are as simple as switching from a regular 401(k) to a Roth 401(k) or adding something to your allowable deductions that you didn’t know you could. We all spend so much money on our taxes that it’s worth looking into them a bit more closely to save what could be a lot of money.
We all have our favorite brands that we gravitate to in the grocery store, but for the most part, these brands are no better than the generic alternatives that can be purchased for a fraction of the cost, which is why you should at least start experimenting with generics.
Switching Savings Accounts
If you have , money tied up in savings, you could ‘make a saving’ so to speak, by accruing more interest on your capital by switching to a better savings account with higher interest, or even better by sensibly investing your money in stocks and shares. It doesn’t take very long to identify higher interest accounts, especially by using online comparison sites, so there’s no excuse not to make your money work better for you.
If you have any ongoing memberships, whether they’re for the gym, Netflix or glossy magazines, if you rarely make sure of them, cancel them for an immediate boost to your bottom line.
Become a Coupon King or Queen
Couponing isn’t just for little old ladies and penny-pinching meanies, more and more people are using coupons, especially online coupons, to cut the cost of everything from groceries to consumer electronics. If you do the same, you could save between 5-50 percent, sometimes even more, off everything you buy, and thanks to internet aggregate sites, the best coupons have never been easier to find.
Buy in Bulk
Buying non-perishable goods, like rice, beans and toilet paper in bulk will result in significant savings for you, and using your bulk groceries to batch cook and freeze healthy meals with help to cut your utility costs too.
As you can see, it is very possible for small changes to result in big savings, you just have to be willing to put a little time and effort into implementing all of the above. After a while, they will become second nature, and you will be much better off.
*Disclosure: This post was submitted on behalf of PennyMindingMom.com.