While inflation seems to be slowing down, anyone who has been to the grocery store in the past month knows prices are still outrageous. Still, getting creative and finding new ways to reduce your spending will help you fight sky-high prices. Here are six simple ways to save more money without having to drastically change your lifestyle.
1. Save Money With Cashback Apps
Using cashback apps is one of the easiest ways to save money. There are many cashback apps available so you can find one that works well for you.
These apps will reward you with rebates when you purchase at specific stores, purchase specific items, or scan your receipt. Check out popular options like:
- Fetch Rewards
- Top Cashback
2. Cut Back on Food Costs
Scaling back your grocery bill always feels hard because we all love to eat, but with prices soaring, you’ve likely seen your weekly food costs follow suit.
For most, food is one of our largest household expenses. That’s good news because when we are spending a lot of money in a specific budget category, that usually means there is much opportunity to cut costs in that same category.
Order Groceries Online To Save Money
Ordering groceries online saves you time, is incredibly convenient, and allows you to stick to your budget as you’re shopping. You can keep an eye on your virtual cart total and always see how much over budget you may be going – or if you’re under budget and have some wiggle room to add additional items.
Most stores don’t charge a fee if you order online and pick your groceries up, but many do add additional charges if you want to have your order delivered.
Cut Food Costs With Meal Planning
Maybe meal planning sounds like a giant pain to you, but, once you get in the habit, it doesn’t have to take a lot of time. In fact, once you successfully integrate meal planning into your weekly (or monthly) routine, it can be done in just a couple of minutes each week.
Plus, over time, you’ll develop your own system and flow, and you’ll find it makes life so much easier.
Stock Up on Essentials During Sales
Being intentional when you are planning out your shopping trip for the week can help you better prepare and be able to stock up on staples when they’re on sale at a good price. Take a quick look in your pantry, cabinets, and refrigerator when creating your meal plan to see if you have all the staples you need.
Plan ahead to maintain a small stock of any items you consider to be essential and research to determine when and where these items will be on sale at a good price so you can budget accordingly and allow yourself to purchase a bit more than you normally would.
3. Embrace Minimalism To Lower Expenses
Yes, minimalism has been having a moment in the past few years, but it’s often over-exaggerated. The media only seems to depict the extremely minimalist lifestyle, but embracing minimalism does not mean you must sell everything you own and sleep on the floor.
Instead, minimalism can simply mean cutting back on some excesses in our lives. It’s a great time of the year to purge your home of unused or unwanted items. It can look like spending your money on the things that matter most to you and reducing spending on the things that don’t.
4. Negotiate Your Bills
Now is a perfect time to contact your service providers and try to negotiate rates on things like utilities, insurance premiums, and especially any outstanding medical bills you may have.
With many experiencing financial struggles, there are a huge number of bills going unpaid, and believe it or not, most companies would prefer to give you a reduced rate or allow you to settle past due bills for a smaller balance, which allows them to recoup a portion of the balance instead of risking you defaulting altogether and not paying anything.
5. Review Your Budget and Spending
It’s a great idea to get into the habit of doing this every six-ish months regardless of your financial and economic situation, but if you’re not doing so, I encourage you to carve out some time this week to sit down with your spouse or partner and review your budget and spending.
If you’re not currently tracking your spending, make this a priority for a couple of weeks and be sure to review the spending data you collect in detail. Your budget should reflect your priorities and values in life – this should be true whether you have a lot or a little extra in your budget.
6. Learn How To Say “No”
This last habit may be the most important one…learn to say “no.” Did you know the word “no” is a complete sentence? It absolutely is. It doesn’t require justification. It doesn’t require an explanation. You don’t have to feel bad or guilty about your “no’s.”
Making these frugal habits part of your life will help you fight rising prices and counter inflation to reduce financial stress and start your year off right.
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