It is never too late or early in the year to start saving money. Setting money aside is always a welcome thing! Below are more tips for you to save more daily, monthly, and annually.
1. Bring your lunch to work.
A sandwich can cost up to $10 a day. It does not look like much but how many days to you go to work every year? Bringing your own food from home is cheaper and you can just save the $10 every day.
2. Make your own coffee.
Buying a single cup of coffee every day costs at least $600 annually. Meanwhile, a pound of good coffee costs $15 and you can brew at least 30 cups.
3. Use supermarket loyalty programs.
Member-only specials, coupons, and deep discounts are often offered to loyal customers. If you are already shopping at a particular store, might as well become a member to get more value.
4. Minimize bank fees.
Some simple strategies to lower your bank fees include withdrawing cash only at fee-free ATMs, carefully coordinating your available funds with any checks you write to avoid costly overdraft fees, and using credit cards and free P2P payments apps to reduce your need for cash withdrawals.
5. Use a cashback card.
Charge your regular expenses to a credit card with generous cashback rewards. Just remember to pay your balance in full at the end of the month so you do not wipe out your rewards.
6. Switch home telecom services.
Shop around and get a cheaper bill for your cable TV, internet, and landline service. Sometimes there is a big price difference between providers. You can save more than $30 a month by switching.
7. Track your money.
There are plenty of free apps that can help you track and save money. You can easily create a budget, follow your spending, connect all your accounts, and get bill reminders through the app so you can manage your money better.
8. Refinance your mortgage.
Even if the difference is not that much, it is still worth refinancing a mortgage. Reducing your interest rate can deliver huge savings and also increase the rate at which you build equity in your home.