After holiday spending, our bank accounts can look a little less hefty then we would like. If you don’t feel like sorting through your entire finances , there are simple ways to cut down and save money. It really does just take a few guidelines to start seeing substantial improvements in your spending.
Just give one thing up
Cutting things out entirely can be hard. We can’t all forego our morning Starbucks run or our lunch break at the office. But we probably can just cut one of our indulgences from our routine. Consider a subscription service you don’t use that often. Perhaps you have both Netflix and Hulu, and you only find yourself using one service. Or even a small monthly fee from a phone App that you never actually use. Taking the time to cancel these recurring debits on your bank account can greatly benefit your overall monthly expenses. Plus, once you start giving up a small thing or two, it becomes easier to readjust your bigger spending habits.
Use a Spending App
There are numerous applications that can assist you in keeping track of your monthly spending. Online banking programs also offer these service, such as the Bank of America mobile banking App. These programs keep track of how you spend your money throughout the month. You can visualize see the breakdown of where your money is going. This is especially helpful in seeing how much you actually spend at places like Starbucks, or online shopping binges like Amazon. Sometimes seeing the monthly total gives you the push you need to stop unnecessary spending.
Here are some of our favorite spending apps:
- Qapital – an app that let’s you customize your own saving habits. Qapital automatically transfers the amount of your choice to your savings account on a schedule that works for you. Wish you put aside an extra $10 a week? This app can do it for you.
- Digit – fully automates the saving process and calculates how much you can comfortably save. This app calculates the perfect amount of money that you can afford to put aside every day. The best part is, you don’t have to think about it.
- Earny – automatically gets you refunds on items you’ve already bought! Forget that buyers regret when you see the thing you just bought for an even lower price. Earny gets that cash back for you.
This may seem extreme at first, but going old school can really help you stick to a budget. Leave the debit and credit cards at home and just bring a limiting amount of cash. This way you can’t find yourself with an almost unlimited budget. Spending can often seem less severe when it isn’t a physical object in your hand.
Sell Old Items
Instead of throwing things away, try apps like Letgo or the Facebook Marketplace. It has become easier and safer than ever to rid yourself of your unwanted items for a small price. Have an extra suitcase you don’t use anymore? Or an old computer you have just kept in a closet? Sell it and free up some space in your house and your bank account.
Have your own money saving method? Tell us about it!