Life hacks are tips, tricks, skills, and novel approaches that help people be more efficient and productive. They can apply to many different aspects of life, one of the most common being financial management.
Following are some life hacks that can save you money and help you build savings, pay bills, reach goals, etc.
Be Smart About Smartphones
You don’t need the newest, most expensive model. It’s also unnecessary to get a new phone every year or two. Get a phone that meets your needs and keep it as long as it works.
Add More Beans, Rice, and Potatoes to Meals
There are a few benefits to doing this. First, these foods are filling and nutritious. Also, by adding volume, they feed more people and for a longer time. Finally, they’re inexpensive.
Buy Large Bags of Popping Corn
It’s convenient to microwave an individual bag of popcorn, but you pay for that convenience and also generate more waste. If you buy your own popping corn, you’ll save money, throw away less trash, and be able to customize the amounts you pop.
Ignore the Hype
Whenever something’s popular and everyone seems to be getting it, there’s an urge to join in. Stop and ask if this thing is an impulsive feel-good buy or something you actually need and will use.
Don’t Go Grocery Shopping When Hungry
When people are hungry, they buy more food even if they’re not going to eat it right away. They’re also more likely to make impulsive buys to feed that hunger on the spot.
Dine Out Less Often
Preparing your own meals will save a lot of money and will probably also be healthier. This applies to work lunches, too; don’t go out for lunch with your colleagues each day.
Drink Less at Bars
It’s no secret that bar drinks are expensive. A large glass of beer can cost as much as a 6-pack of that same beer would at a grocery store, for instance. Enjoy a drink or two with friends now and then, but try to keep it from being three or four.
Buy Good-Quality Second Hand Items
Thrift stores are great places to find used clothing and other items in good condition at low prices. So are online marketplaces like those on Facebook and other social media platforms.
Cancel/Reduce Subscriptions
Unless you watch a lot of TV on a lot of different channels, you might want to cancel your cable/internet service and get internet only. Also, take stock of other subscriptions you have and see if you’re really getting your money’s worth from them. A less expensive plan may also be an option.
Avoid Designer Clothes
For everyday use, designer clothing doesn’t provide any more function than regular clothing does. Nor does it last longer. But it sure does cost a lot more.
Research Before You Buy
This is especially important before you make a major purchase or contract with a service like a landscaper. Compare options, read customer reviews, etc. so you can make an informed decision and avoid unpleasant surprises.
Keep Bread Frozen
People throw away a lot of bread because it gets stale or moldy before they eat it all. This even happens with refrigerated bread. It will keep much longer in a freezer, and you can just take out what you need each time.
Consolidate Trips
Instead of making multiple trips for different things, do as many things as possible in one outing. This will mean less driving, which means spending less on gas.
Don’t Waste Food
Millions of dollars worth of food goes into trash buns and disposals every year. It’s like pouring money down the drain. Eat your leftovers or make smaller portions so you don’t have leftovers.
Make Homemade Meals Instead of Buying Ready-Made Ones
Not eating at restaurants saves you money, but making your own meals as opposed to buying pre-made ones saves you even more. It also cuts down on the amount of single-use packaging that ends up in landfills.
Buy Seasonal Items in the Off-Season or at Season’s End
Memorial Day isn’t the time to buy a new swimsuit. That’s the start of the peak demand period, and they’ll be more expensive then. Seasonal clothing and other items are usually much cheaper at the end of the season or the off-season when stores are trying to get rid of unsold inventory.
Stream/Rent Instead of Buying
Unless it’s a film or TV show you know you’ll watch many times, renting or streaming it is a lot cheaper than buying. If you want to watch it a second or even third time later on, it will probably still cost less in the end to rent it.
Purchase Airfares Mid-Week
This isn’t true all the time or of all airlines, but online prices are often lower on Tuesdays through Thursdays. That refers to when you purchase, not when you fly.
Turn Down the Heat
In the winter, energy bills go up because people run their heaters a lot. Setting the thermostat a few degrees lower can make a noticeable difference in the bills. If you feel too cold, add another layer or get cozy with a blanket.
Quit/Reduce Smoking and Drinking
Cutting alcohol and tobacco down or out will save a lot of money, sometimes thousands of dollars a year. It’s also healthier for you, and you’ll feel better, too.
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