9 Ways To Save Money Without Feeling The Pinch

For many people, saving money seems like an impossible dream. After all, by the time you cover your living expenses and bills, there’s never much left over to put towards saving.

Yet, there are some ways you can save money without feeling the pinch. Here are some quick ways to start saving money today:

Lower Your Insurance Premiums

Many states require you to carry some form of insurance. This doesn’t mean you have to pay an arm and a leg for it though. If you’re having trouble and can’t afford auto insurance, look for these discounts: multiple vehicle discount, good driver discount, low mileage and bundling your auto and homeowners insurance.

Bring Your Own Lunch

It’s surprising how much money you can save by taking your own lunch to work each day instead of buying it. If you’re not keen on making your lunch before work, cook extra food for dinner and take leftovers to work the next day.

Negotiate For Better Rates

Take a look at the interest rate you’re paying on your outstanding debts. Then shop around and see if you can find a better rate elsewhere. Lower interest rates mean reducing your monthly repayments. Call your bank and tell them you’ve found a lower rate and ask them to match it. If they won’t, be prepared to refinance your debts with a new lender that offers better interest rates.

Shop Around

Are you really getting the best deal on your TV, phone, or internet services? You could be getting exactly the same service at a lower cost just by shopping around between service providers.

Ditch The Gym Membership

It’s funny watching so many people walk endlessly on a treadmill going nowhere. Yet it costs nothing to walk to the store or walk the dog or walk around the block. Cancel the gym membership and find ways to be more active at home instead.

Shop To AShopping List

Grocery stores are notorious for placing certain products strategically to encourage impulse buying. If you’re headed to the supermarket or grocery store, take a shopping list of the things you need. Only buy items on the list and don’t be tempted to add impulse items.

Keep Your Car Well-Maintained

Regularly servicing your car can reduce your fuel costs. Ensure you have the right air pressure in the tires and plenty of oil and water. You should also make sure you buy the correct parts to suit the make and model of your car.

Keep The Change

Far too many people discount the value of their spare change. Yet, those small denomination coins can really add up to a lot of money. Make a habit of keeping your small change in a jar. When it’s full, deposit the balance into a savings account.

Automate Your Savings

One of the easiest ways to save money is to put your savings plan on autopilot. Arrange a direct debit payment to come out of your regular transaction account each week or month and have it paid into your interest-bearing savings account.

Nominate an amount of money you won’t miss each week, such as $20 or $25. If you can afford more, change the amount to suit your budget. Not only do those automatic amounts add up quickly, but you’ll be earning interest on your savings too.

There are plenty of ways to save money without feeling the pinch. The key is to think about what you’re spending and then look for ways to get the same outcome at a better cost. Choose ways to cut back on your spending that won’t bother you and you’ll find it much easier to stick to your savings plan.

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