As much as we all know we should be spending less and saving more, it’s easy to waste money without realizing it.
These days, spending cash is incredibly simple. We’re all connected to the internet constantly, which means that all you need to do to buy something is tap a button on your smartphone, or swipe something, and you’ll have an item delivered to your door in no time. This age of convenience might be great for some, but it’s a huge problem for those who struggle with money issues.
To help you overcome your spending problems and stop wasting cash once and for all, we’ve put together some top tips to guide you towards a healthier bank balance.
1. Start Buying Generic Items.
You’d be surprised how much people spend just so that they can have a certain name or logo on their products. The truth is that the brand-name products you buy from the grocery store each week generally include the same ingredients as the store brands. The only difference is that the packaging is more expensive.
Although it can be difficult to convince yourself to move away from companies that you’ve been loyal to for a number of years, when you’re trying to save cash, one of the easiest things you can do is start buying generic. After a while, you won’t even notice the difference.
2. Compare your Loans.
When you’re going to buy a big item like a television or a new computer, there’s a good chance you compare your options from multiple different stores before you commit to anything. Why is it, then, that so many of us forget to do this when it comes to getting a loan or credit card?
Comparing your options when it comes to borrowing capital can save you a serious amount of cash. After all, different loan products come with their own unique interest rates and benefits to consider. The more time you spend comparing your options, the easier it will be to choose something that’s good for your wallet, and your future.
3. Stop Overspending on Disposables.
The human race has a serious problem with over-spending on disposables these days. We all spend severe amounts of cash on things like paper towels for our kitchens, paper plates for children’s parties, and even disposable plastic water bottles that we can take with us to work.
You don’t have to give up on being regularly hydrated to save money. Instead, invest in a re-usable water bottle that you can take to the office instead. Not only will you save cash, but you’ll look more professional too!
4. Use More Vouchers and Coupons.
Why pay full price for something, when you can simply print out a coupon and get the item for so much cheaper? Before you buy anything, make sure that you conduct a quick search online for any discount codes, vouchers, or deals you might be able to take advantage of.
Remember to be wary of any deals that ask you to buy another item to get money off something else. The only reason you should be buying additional products is if you were going to purchase them anyway. If you’re spending money to save, then you’re not really saving at all.
5. Discover Second Hand Bargains.
Sometimes, you need to buy things new. You probably don’t want used sheets for your bed, and you definitely wouldn’t buy underwear from a charity shop unless you absolutely had to. However, that doesn’t mean that you have to buy everything new.
The next time you’re making a big purchase, consider whether you could save a little extra by looking at second-hand options instead. For instance, you can save serious cash on a car by buying it second-hand. The same is true for a new lawnmower or even a second-hand games console.
6. Stop Overspending on Food.
Finally, when you’re trying to save money and stop wasting your cash, one of the worst things you can do is go to the grocery store when you’re hungry. When your stomach is rumbling, it’s easy to add more to your cart than you really need. Stop over-spending on food that you end up having to throw into the trash at the end of the week.
Instead, make sure that you start every shopping trip by sitting down and writing a list of the items you need for your pre-planned meals over the next week or so. That way, you’ll only buy the items you genuinely need. Make sure you check through your fridge and store cupboards for any ingredients you already have too.