It is not a surprise that managing finances is a daily struggle. From creating a budget, tracking your expenses, keeping credit intact and working towards eliminating debt, we do a number of things to positively manage finances. However, aside from the usual tasks, there are certain things you can do to save money every day.
Tips to Save Money Every Day
- Start with the cup of coffee: Making coffee at home or picking it up at work is a good place to start to save money every day. It will cost you nothing if you wait till you get to work to have your morning coffee. This can save you hundreds a year. This infographic explains the breakdown of coffee costs annually.
- Pack your lunch: Brown bag it and bring your lunch to work versus eating out on a daily basis. The average cost if you were to order in is anywhere between $10 and $12 depending on delivery charges and tip. However, the average cost of lunch that you make at home is only around $3 to $5. If you were to bring your lunch every day, the average annual savings is over $1,800, and it is surely much healthier for you.
- DIY projects: Making homemade cleaning products whenever possible can save money every day. This article provides some smart housekeeping tips with DIY tips.
- Unplug when not in use: Make sure you unplug appliances such as televisions and phone chargers when not in use. Even when the appliances are switched off, they will consume electricity if left plugged in. The average U.S. household spends about $1,900 a year on energy costs, according to the U.S. Department of Energy (DOE). And the DOE says that anywhere from 5% to 10% of your residential electricity is sapped by devices that are plugged in 24 hours a day.
- Save water, save money every day: Use a timer for showers and try to reduce shower time to 5 minutes. Replace the current shower head with an efficient shower head that gives you enough pressure but saves water.
- Who turned the lights out? Keep only a light on in the room you are occupying and if you don’t need it, turn it off.
- Have you considered an energy audit? It is a good idea to have a home energy audit done. Many times energy audits will provide you energy efficient light bulbs and power outlets. You will have a better idea of which home improvement projects will result in the most energy and money saved.
- Coupons, discounts & other savings all add up: Avoid paying full price for entertainment and goods. Look for discounted options for entertainment or retail on sites such as Groupon or Living social. A little bit of couponing can also go a long way.
Big bills and expenses can push you to your limit with money and continue to accumulate even more consumer debt. Therefore, take every little action possible to bring down the costs and save money every day.
If you are already drowning in debt and need assistance to get out of it, speak with a certified counselor at ACCC by calling 800-769-3571.