I am always looking for ways to save money, cutting back on everyday purchases is an excellent way to lower your expenses and put more money in your pocket. Here are 20 Tips to save money on everyday purchases.
1. Comparison Shop for Insurance
When is the last time you got a new quote for your home or car insurance. You may be able to save money just by switching your policy. Companies reward their customers for safe driving and will often lower your premiums if you have not filed a claim for several years.
2. Review Your Cell Phone Bill
Are you paying for data or minutes you aren’t using? It may be time to change your phone plan to a lower cost option. If your cell phone provider is unable to lower you bill, consider switching carriers. Some providers are offering to pay your early termination fee as well.
3. Cancel Cable
With options like Netflix, Amazon, Hulu Plus, and HBO Go, having cable has almost become obsolete. I know it can be difficult to give up, but the extra money in your pocket will help ease the pain.
4. Memberships & Subscriptions
Dues and subscription can eat away at your hard earned cash. Most are automatically debited from your bank account and withdrawals happen without you noticing. It is time to cancel gym memberships that you don’t use, magazines subscriptions that you don’t read, and the premium channels that you don’t watch.
5. Rent Your Clothes
You really don’t need to spend $400 on that dress you are only going to wear once. Rent the look for a fraction of the price and it won’t be stuck in your closet season after season. Check my post about renting your clothes and see how easy it is.
6. Buy on Consignment
Now, I love shiny new things just as much as the next girl, but buying some items pre-owned can save you a lot of money. You can shop for furniture and even sporting goods, or find some cool items at vintage clothing stores.
7. End of the Season Shopping
Items tend to be less at the end of season. Try buying your winter coat in February or March in preparation for next winter. You can also get great deals on summer items in August, when the fall clothes hit the store. This hold true with cars – January is a great time to buy or lease the previous year’s model.
8. Stop the Impulse Buys
Making expensive purchases on a whim can quickly diminish your saving. Impulse shopping often can lead to buyer’s remorse. Taking an inventory of your items before you go shopping may prevent you from loading your closet with clothes and shoes you don’t need. Think about unsubscribing from those daily shopping deals as well – they only make this worse!
9. Call to Request Lower Interest Rates
If you have a history of paying your credit cards on time, you may be eligible to reduce your interest rates. The credit card companies won’t just do it automatically – call and speak to a customer service rep about options for lowering your rate, trust me – this works!
10. Credit Card Rewards
There are many opportunities to earn money though the reward programs on your credit or debit cards. With cash back and points, your purchases can mean more money in the bank. 5% cash back is a great bonus, but it will only be useful if you pay your entire balance at the end of the billing cycle.
11. Comparison Shop
With so many options available today, comparison shopping should be your standard practice before you buy anything. Search the item and save time going from store to store, or use an app like Red Laser which allows you to scan an item while you’re at the store to see if you are getting the best price. Extra Tip: Mention you found it cheaper at a competitor and they’ll likely price match.
12. Cash Rebates
One great way to take advantage of rebates is with Ebates. A company that gives you cash back if you click through the links of the stores listed on their site to do your shopping. They will offer you anywhere from 1%-8% cash back on all your purchases. Why not save on things you need to buy anyways.
13. Get Price Adjustments
I have learned that you cannot schedule your purchases around every sale. If you find that an item that you have bought has gone on sale, don’t fret! Many retailers will honor that price and give you the credit or money back! 30 Retailers with Price Adjustments.
14. Buy Gift Cards at a Discount
If there is a retailer that you shop from frequently, consider buying a discounted gift card to make your purchase and save some money. For example, Raise.com is an online gift card exchange that offers gift cards for up to 40% of face value. Additionally, if you have a gift card you are not going to use, sell it on the site and make some extra money!
You don’t have to pull out the scissors to take advantage of coupon savings now days. There are online sites like Retail Me Not and Cool Savings that provide online codes which can save you serious cash. Search for coupons online that you pull up on your phone for in-store purchases too.
16. Buy in Bulk
I am not saying run out and get a Costco Membership, but by purchasing the items you use on regular basis in larger quantities you’ll save money. The unit cost for the item will decrease when purchased in bulk. Try Amazon Subscribe and Save for even bigger savings on home supplies and non perishable items.
Food & Dining
17. Make Coffee at Home
I used to go to Starbucks every morning, never realizing that a single cup of coffee was killing my bank account. If you spend $2 per day on coffee every workday, that adds up to $520 a year. Investing in a coffee pot and brewing your own cup of Joe allows you put that money towards something that really matters
18. Plan Your Meals
By planning your meals out for the week you will be able to cook the items with a shorter shelf live first, leaving the more non-perishable items for later on in the week, ensuring less waste. Buy everything you need for the week in one grocery visit and cater your meals around what is on sale. According to Business Week, for a family of four the money saved could total from $1,365-$2,275 a year.
19. Pack a lunch
Buying your lunch everyday isn’t the smartest idea if you are trying to save money. Spending $7-$10/ day at the local café can cost you anywhere from $1820-$2600 a year. Trying bringing leftovers from your planned dinner the night before or making a sandwich or salad at home.
20. Grocery Store Deals
I shop at the grocery store almost every week; I shop the sales before I look at anything else. This allows me to stock-up on items for less than I normally pay. I have learned to love my freezer, and I thaw out meat every morning for dinner that evening.
What is your Best money saving tip? Let me know if I have forgotten any!