5 Smart Ways to Save Money Fast
If you’re looking for creative ways to save money fast, we’ve got you covered. From coupons to budgets to boundaries, these tips will help you create a new vision for your relationship with money.
Use a Bank Without Fees
Does your bank charge you a monthly account maintenance fee or require minimum balances to avoid these fees?
These days, it’s a buyer’s market. There are plenty of banks out there that offer free checking as well as other perks that make banking at one of the big national banks less attractive than ever.
Estimated Monthly Savings: $10-$25
Sell Your “Stuff”
Chances are, you’ve got an attic, basement, garage, storage unit or extra bedroom full of, well, stuff. Whether you sell it on Craigslist, Facebook, eBay or any other platform, getting the excess out of your life is always a positive! If you’re currently renting a storage space, your extra stuff could be costing you hundreds of unnecessary dollars each month. Think about this— if you rent a $100/month storage unit for two years, that’s $2400! How much is that stuff worth anyway?
Selling off or donating this stuff will create more room in your life (and your budget) for what really matters.
Estimated Monthly Savings: $100
Couponing & Rewards Programs
If you shop at Kroger or another popular grocer, you’re probably aware of their membership discount program— you get deals on grocery items as well as the occasional price break on their gasoline.
Take these types of easy savings to the next level with couponing. From smartphone apps to good, old fashioned coupon clipping, you can shop smarter and save. It’s worth the few minutes per week you’ll spend couponing!
Estimated Monthly Savings: $10-$20
Shopping Is Not a Hobby
Some people enjoy buying a cup of Starbucks coffee and walking around retailers like Target until they inevitably cave and spend money. There’s a reason that retailers are making their stores more inviting with cafes and free wifi. The bottom line? Shopping is not a hobby. Shopping is a way to get supplies. If you’re not getting groceries or essentials, do something else with your free time — don’t roam the aisles anymore.
Estimated Monthly Savings: $50
Work Freelance or Part time
If you’ve got a full time job, it can be hard to find the extra hours in the week to take on a part time or freelance opportunity.
However, the “average American” watches 5 hours of television per day. That’s 35 hours per week!
If you’re dead set on saving, you can find a way to work more hours or pick up some kind of side hustle!
There are, of course, more ways to save. The top rule of thumb is to control your spending. This is the way to give yourself an instant raise! Spending less money means having more money for living. Whether you’re trying to save up an emergency fund or pay off debt, limiting your spending is a must.
If you’re currently in a situation where you feel stuck financially, we’re with you. At CreditGUARD, our certified credit counselors can offer you financial education as well as our nonprofit debt management and debt consolidation programs that never involve any new loans. Call CreditGUARD today at 1-800-500-6489
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