We all want to save more without feeling deprived. Fortunately, in this information age, there are hundreds of ways to do it. We’re not talking about the stuff that everybody knows: collecting spare change, cancelling your gym membership and skipping some meals. All we’re talking about are the legitimate life hacks, the less-known small sacrifices that will turn up some cash for a rainy day, or better still, a nice vacation. Here is how.
1. Exchange Your Stuff
With the birth of the internet, the art of barter- exchanging services or goods you no longer need with other stuff and services without spending a dime – is becoming incredibly huge. Barter is a win-win situation. Today, you can barter almost anything imaginable from roof repairs, legal services, babysitting shifts to slightly used furniture. Finding people living near you with same interests is relatively easy, thanks to social media.
With the birth of the internet, the art of barter-exchanging services or goods you no longer need with other stuff and services without spending a dime – is becoming incredibly huge. Barter is a win-win situation. Today, you can barter almost anything imaginable from roof repairs, legal services, babysitting shifts to slightly used furniture. Finding people living near you with same interests is relatively easy, thanks to social media.
Facebook buy nothing local groups gives you an incredible opportunity to exchange your goods with people in your locality. It is heart warming to note that anything is your house be it used clothes, DVDs or books can be exchanged for items such as a baby crib or a bicycle. Not only goods. You may swap babysitting with people in your area to save on cash.
You Save: eBay estimates that you could save $50 on free used baby crib, through YMMV.
2. Make Your Detergent
We all do laundry. No matter your earnings, you can’t avoid doing laundry. Name-brand detergents make it rain from your hard earned cash. In some online stores such as Walmart, these detergents could cost you up to $ 20. With some inspiration from the internet, it’s appalling on how easy it is to make your own detergent, which could save a dollar a month and up to $ 20 monthly depending on the size of your family.
You Save: $240 annually.
3. Buying New Shirts
Buying stuff can indeed save cash. Next time you want to buy new work shirts, go for ‘no-iron’ dress pants and shirts. Though they may still require a light press, they need nowhere near what a typical shirt would. Apart from wool dress pants and sweaters, you won’t need dry cleaners anymore. With them, you can easily go from more than $ 60 a month to less than $ 15.
Your Save- $35 monthly (conservative estimate) yielding $ 420 at the end of the year.
4. Negotiate With Your Insurer
We have less control over some aspects of our financial lives. For example, you can’t stop driving your car even if the fill-up price leaves you with a sticker shock. Fortunately, there are less known opportunities for you to save, one big on your car insurance. Here is the plain truth- your car insurance will probably not give you discounts unless you ask for it.
Many car insurers advertise for a 10% discount if you clock five years of safe driving. Let’s say you are currently paying $ 100 per month on car insurance. Ten percent of that equals $ 10 a month.
You Save: $120 annually.
5. Don’t Eat Out
Before you tell me off for this level of self-denial, listen. You don’t require years of boycotting your joint to see the results. One month is enough. A certain Reddit commenter estimated that if you pull to an MCDs daily for $ 7 a pop, that’s $ 35 weekly and $ 140 wasted eating junk monthly.
You Save: $140 in one month.
6. Exchange Your Tickets
Some airlines allow you to choose a cheaper flight and exchange a one-way ticket within your round trip before the travel date. By keeping an eye on the ever-changing low-fares, you can schedule your flight to an earlier date and save some cash.
Estimated Savings: $46 depending on season and availability.
7. Stream Free Shows
You may be a Netflix addict like me. Shelling out $ 8 a month could save you $ 96 a year if you make the cut. But you don’t want to miss out your favorite shows. Well, interestingly, the shows could be available online for free. Try out network sites and third party websites such as Hulu.
You Save- $96 annually.
Sourced from: sheknows
Photo: Thinkstock/rarpia