Saving 50$ couldn’t be more simple!
It’s important to adopt frugal habits to be able to cut expenses from your budget. First things first, try to automate your savings. You should set up automatic transfers to your savings account. This way, you know for sure that you will save a part of your income regularly, and you will treat it as a non-negotiable expense.
For example, transferring $25 biweekly will save $50 for you every month without you even needing to think about it.
Let’s see how you can save $50 on more areas of your life; these are the tips you should follow:
Cook your own food
If you see in your apps that most of the money is spent on delivery and dining out, it’s time to see it as the first target in cutting expenses. You may not even realize how much you spend on these little things. An average pizza was approximated at $18. So, for two pies, plus tax, delivery, and tips, make it $50 for a casual indoor meal. Dining out will considerably increase the costs.
Think about how much you will save if you stop ordering and dining out regularly—money that you can actually invest and raise your income sources.
There is an average of $10–$15 that you’re going to save per meal if you eat at home, according to finance experts. Preparing meals in bulk and making sure you use all the products that were already open will stretch this even further. Bringing your own lunch at work will help you save $50 per week, considering you pay $10 a day. Spending $3 for a coffee at your local coffee shop every day will total $60 a month which you can have back in your pocket if you choose to switch to home-brewed coffee.
Meal Plan
More than the cooking itself, more important is the planning. Use a list when you do the groceries and stick with it. This is how you’re going to avoid unnecessary items that will lead to overspending. Another tip is to reduce food waste by only buying what you need to use along with the products you already have.
A well-planned list will prevent you from extra trips to the store, too.
You can find tutorials on how to meal plan and shop for exactly the required ingredients. It’s more rentable to cook in bulk, so portion the meals and store them in the freezer. Using apps and coupons will save you $5-$10 for each grocery trip, meaning $25-50 saved per month. You should also think about opting for the generic instead of a brand name to save $1-$5 per item. This will easily add up to $50 over a month.
Buying seasonal products will save you up to $10-$20 on produce each month. Keep in mind that fruits and vegetables are cheaper depending on their season. It’s better to plan your meals around these products not only because they are cheaper, but because they’re genuinely more healthy and they are tastier. Strawberries, for example, can be funded at $2 in season compared to $5 out of season.
Be frugal with fuel
It may be more comfortable to drive around in your car, but it’s not necessarily very budget-friendly. Switch the car for public transportation, and this will save you a lot of money and take away from your mind the parking struggle, maintenance, and a lot of other payments.
Kansas City. Missouri, New Jersey, and other cities already offer the facility of free transportation. Even if your city is not part of the ones that chose this approach, it’s still going to be cheaper to take the bus to work than pay for gas all the time.
There are even more creative ways to cut commuting costs, for example, riding an electric scooter. This will actually be faster to get around in a major city rather than fighting traffic. No gas, insurance, or parking payments will bring a lot of money back to you, and you don’t even need to charge it at home, as there are enough spots to charge it outside.
Moreover, make sure you unplug electronics and use energy-efficient bulbs, as well as be mindful of your thermostat setting. This will save you $10-$20 on your monthly electricity bill.
Have you considered taking a roommate?
Your home is probably taking around 1/3 of your income. How can you reduce it as much as possible? Well, you should consider moving to a lower-cost alternative or get a roommate to share the bills with.
If you think you have extra room, you can reduce the home costs by 50% by living in an apartment with an extra bedroom and an unbothered attitude of sharing your place. If you pay $1200 for rent, you will save $600 by sharing it, as well as utilities such as internet, electricity, etc. which will lead to good savings over time.
Subscriptions
Don’t forget to cut the unnecessary subscriptions. By constantly reviewing your streaming services, gym memberships, etc., and canceling the ones you don’t use, cutting at least one of them will bring you up to $50, depending on what you cut. If you take care of this aspect and cut at least one of $10 a month, you will save at least 120$ a year just by not paying blindly.
Moreover, you should learn to negotiate bills. You can call your service provider of phone, internet, or cable and ask for a lower rate. Even a $10 reduction for every service will return you $30-$50 a month.
You can also use library resources when it comes to movies, music, online courses, and, of course, books. These will cut down on entertainment and education costs. Borrowing books and movies instead of buying them will save you $20-$50 a month. As well as this, you can attend free events such as concerts, festivals, and concerts that will bring value to your life without paying $50 for a ticket.
DIY when it’s possible
This way you can save money on labor costs. You can easily do basic home repairs or your car maintenance, and you can even create your own cleaning products with natural, hypoallergenic products. Creating your own laundry detergent, for example, will cost pennies per load compared to buying it, and you will find plenty of tutorials on how to do this, as well as the reasons why it’s healthier for you, better for your clothes, and for the environment.
Consider investing in reusable items such as shopping bags, water bottles, and coffee cups to reduce the need for disposables. This will save you money over time. For example, investing in a high-quality reusable bottle and a good filter will eliminate the bottled water you used to buy and save you up to $50 a month.
Here you can find water bottles on a great quality-price deal. You can order them via Amazon, as well as water filters. You can opt for one of small capacity, such as this 7-Cup Pitcher Water Filter with 1 Genuine PUR Filter, or you can invest in a fancier one, such as this Brita Hub Compact Countertop Water Filter.
No matter which one you choose, it’s going to be great to not need to purchase bottles of water all the time, not only for your pockets but also for the environment. Frugal living is something that more of us should apply for the world to become more clean, in order, and less superficial.
Read next: Wasting Money: 5 Ways You’re Doing It Every Day
