What are the Top 10 Brilliant Money-Saving Tips?
Saving money can be challenging, but it really doesn’t have to be! Here’s a list of many ways you can save some extra cash!
This post is about the top 10 brilliant money-saving tips.
Let’s dive into the top 10 brilliant money-saving tips!
1. Reduce Utility Costs
Save money by turning off lights and other appliances when not in use. Depending on where you live and how utilities are calculated, you may be able to figure out the peak times. Using that info, you can strategize when you should use appliances that take up a lot of energy. For example, if energy is less expensive during the day, so it’s a great time to do laundry, vacuum, and other appliances.
2. Refinance Loans
Refinancing loans are a great way to save money! Though only if the interest rate you’re refinancing to is lower than the rate your current loan is at. This will reduce your monthly payments, helping you save some extra cash!
3. Avoid Bank Fees
Overdraft fees, monthly maintenance fees, whatever the case, avoid bank fees at all costs! Banks usually have options for free checking or savings accounts by fulfilling certain requirements/thresholds. If you can’t easily check these boxes, look elsewhere! There are so many options for banks now, there really isn’t a reason to be paying a bank to hold your money.
4. Cancel Unused Subscriptions
Subscriptions are so, so sneaky! It’s why so many businesses are opting for subscription models – they’re easy recurring revenue. Once people sign up, they often forget to unsubscribe until several months, maybe even years later. So, remember to review monthly subscriptions. These could include gym memberships, streaming services, and other monthly subscriptions. Cancel the ones you don’t use to save some extra cash!
5. Buy Generic Brands
Oftentimes, the generic brands are from the same manufacturer as the brand names, just different packaging! Either that or they’re just as good in quality, but at a lower price. A great example is the Supergoop Unseen Sunscreen vs the Trader Joe’s sunscreen! It’s $42 compared to $10 – that’s 25% of the price! You can chuck the extra savings and put it elsewhere!
6. Meal Prep
Planning and prepping your meals for the week are a great way to save some money, and reduce impulsive shopping.
7. Negotiate Bills
Always, always, always negotiate bills! How? Your internet, cable, medical bill, anything really! At the very least, you can try to negotiate. The worst they can say is no. Remember to do your research, come up with reasons supporting lowering your bill, and then call your provider. For your internet bill, you can ask for a continuation of the initial promotion offer. That simple phone call can turn into $15-20 every month!
8. Buy Used Items
Buying used items can save you a lot of money! This is especially helpful buying high ticket items second hand. These items can be electronics (TVs, monitors, etc), furniture (tables, chairs), kitchen items, cars!
9. Take Advantage of Cash Back
Cash back is one of the best ways to make and save extra money! There are a number of ways where you can stack cash back. If the merchant is available on Rakuten, you can use their link to shop and get a % back. On top of that, if your credit card offers certain rewards, you can use your credit card to make the purchase. So you’ll get cash back through Rakuten and cash back through your credit card.
10. Sell Unused Items
Selling unused items are not only a great way to declutter your home, it’s also a great way to make extra cash. There are a number of platforms available to help with decluttering: Facebook marketplace, Poshmark, Mercari, etc. You may choose the platform depending on what the items are!
To reiterate, the top 10 brilliant money-saving tips are:
- Reduce Utility Costs
- Refinance loans
- Avoid Bank Fees
- Cancel Unused Subscriptions
- Buy Generic Brands
- Meal Prep
- Negotiate Bills
- Buy Used Items
- Take Advantage of Cash Back
- Sell Unused Items
There you have it! Interested in learning more about saving extra cash? Check this post out for how to negotiate internet bill.
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