The easiest way to save more money each year is to implement some simple lifestyle changes that allow you to spend less in your daily life. Making these small lifestyle changes into regular habits lets you save money every day without really having to think about it. In a fairly short period of time, you will find that your monthly expenses have gone down and more money from your paycheck is staying in your bank account. Here are 5 simple ways to save money every day.
Be Selective With ATM Withdrawals
ATM fees have risen to an average of $4.35 for using an out-of-network ATM to withdraw cash. Over the course of a year, this could add up to hundreds of dollars spent simply to access your money. Instead of paying these fees, save money every day by only withdraw money from ATMs branded by your bank or ones that do not charge fees for withdrawals.
Use Cash
Studies have shown that the psychological pain of parting with cash is much higher than what is experienced when swiping a credit card. This means that you are likely to spend less when paying with cash because mentally, you want to hold on to it. Using cash also limits your spending to what you have on hand at the time while using a credit card or debit card allows you to access money you didn’t intend to spend.
Cook At Home
The cost of eating out adds up quickly and can wreck your food budget for the month. Cooking at home as much as you can allows you to save money every day. Store extra meals in the freezer to heat up quickly on the days you do not want to cook. You can also invest in a crock pot, which allows you to put in raw foods in the morning and come home to a fully cooked meal after work.
Shop With A List
The best way to stick to your budget is to compile a list of the things you need to buy before heading out to the store. Stores are great at enticing people to purchase things on impulse, but sticking to a list helps you avoid spending more than you intended.
Limit Your Shopping Trips
The more times you go out to shop, the more occasions stores have to influence you to buy more. Limiting your shopping trips to one day a week or once every two weeks and focusing on items that you actually need will reduce that additional spending by a considerable amount.