This time of the year can be a massive blow to your bank account. Take a moment to reset and read these instant money saving tips below so you can get your finances back on track and start the new year off stronger.
5 Instant Money Saving Tips
1. Cancel Subscription Services You Don’t Use
If you’re not going to the gym, you don’t have to pay for their services. And do you need Netflix AND Hulu? Think about what subscription services you have, what you really use, and cancel the ones you don’t need.
2. Avoid Self-Gifting
This one is easier said than done, especially with the post-holiday sales coming up, but if you want to prioritize your finances, it’s pretty important to try to avoid buying extra things for yourself that aren’t necessities.
3. Download a Money-Saving App
There are plenty of money-saving apps available, so download a few and see which one you like the best. A few recommendations to get you started are: Qapital, Stash, and Acorns. You can connect these to your bank account and set up pre-existing or custom savings goals.
4. Commit to a Money Detox
Decide that you won’t spend any money for a pre-determined amount of days. The days don’t have to be consecutive. You can decide you won’t spend money every Tuesday, for example. It’s a good habit to form, and then you can tack on an additional day each week if you want a new challenge.
5. Say No but Offer an Alternative
You don’t have to go out to dinner and drinks with friends every weekend. Offer to host a wine night at your house and ask your friends to bring some appetizers. You can still be social and have a great time without spending a ton of money.
Are you planning to save money this year, or will you start in 2019? Tweet me your best money saving tips @lorenridinger.