If you are seriously looking at how to spend less money, there are plenty of easy and quick options available so you can get started immediately. However, some of the better ways to spend less money are going to require that you put in some effort.
Some of the methods I recommend also require you to change the way you think and shop.
How to Spend Less and Save More
Spending less and saving more go hand in hand. It doesn’t matter if you spend less on some items just to waste the money on other things. In order for you to pay down debts, invest in assets, buy things that really make you happy, or save money, you must spend less.
Budget
This is one of the quickest ways to spend less money. If you know your income and expenses, you can better manage your expenses and discover ways you can cut costs.
How to Spend Less Money on Gas
Use a Fuel Additive
Fuel Additives help keep your engine clean so your fuel can burn cleanly. A clean burning engine has better fuel economy and power. This is the in that I trust to use in.my vehicles.
Keep Up With Your Oil Changes
Just like fuel additives help keep your engine clean, oil changes need to be performed regularly to keep your engine clean as well.
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Sign Up For Rewards Programs
Many rewards programs offer you immediate money off your purchases. Depending on the rewards program, you can also get extra coupons, sales and perks if you are making regular purchases.
Some of the easiest rewards programs to sign-up for and use are for Gas and Grocery Stores. They give you member pricing on items and are a great and quick way to spend less money.
Understand that Credit is a Good Thing
If you can get a 0% interest loan and use that money to pay down other debts, that is a good thing. Building credit is the only way for that to happen.
Pay the Statement Balance Every Month
If you DO NOT pay the “statement balance” every month, you are giving away money. Make sure you pay the statement balance every month in-full, by the due date, or you will pay interest on your purchase. Your goals should be to spend less money or no money on interest on credit cards.
One of the biggest lies we have been told is that we must carry a balance on credit cards in order to build credit. The truth is that you need to use your credit cards regularly in order to keep them active, in order to build credit. If you don’t use your credit cards at least every 3 or so months at a minimum, you are risking the credit card company canceling your credit card due to “inactivity”. So make sure that you buy something. It can be as little as a pack of gum.
Pay in Cash When Useful
Some stores and restaurants will charge you a payment processing fee anytime you use a credit or debit card. It is good to keep cash on hand so that during times like these you will save money on your purchase, just byu paying with cash.
Buy Before You Run Out
If you buy an item before you run out, you are more likely to get it at a better price than when you are desperate and need it immediately.
Shop Sales
Sales are another great way to purchase items without paying the regular price. If you time the sales correctly, you can keep yourself stocked up without paying full price.
Shop Clearances
Clearances are a great way to get new items at a discount. You can buy just about anything on clearance from food, clothing, toys, and many more items.
You can also save a significant amount of money by buying things on clearance before you need them. It’s easy to cut your Christmas and Birthday expenses in half if you purchase things that are on clearance.
Pay Attention to the Cost per Unit
Not always is buying the bulk buy item the best deal. Sometimes companies will make the bulk item more expensive per unit because they know that some people will assume that it is the best deal and just quickly buy it.
Don’t Hire Out Simple Tasks
Simple tasks can be completed on your own without hiring anyone to complete them. Unless you are working so much that you don’t have time to do them on your own, or you make so much more money than it would cost you to just hire someone to do the job….just do it yourself.
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Only Buy What You Need
It is a great idea to shop ahead of when you need something, but don’t over purchase. Plan out within reason, how much of an item you will need, but remember, your goal is to spend less money. You can add a couple extras if you really think you will need them, but don’t go overboard.
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How To Spend Less Money on Clothes
Shop Sales
Sales are a great way to get some items that you were planning on getting anyway, if you just keep your eye on them when you go into the store or check the sales ad for the store.
Shop Online
Sometimes the prices online can be cheaper than the prices in store. There can also be special sales for online shoppers or special colors, styles, or items for online shoppers.
Shop the Clearance Section
The clearance section is another great way to get brand new clothes for cheap. This is a great option if you are trying to add new pieces here and there, but you aren’t looking to redo your entire wardrobe.
Don’t Shop at the Mall
The mall is incredibly expensive and it is mostly because you are paying for the experience of shopping at the mall.
Shop at Discount Stores
Stores like Marshalls and T.J.Maxx are a great alternative to shopping at the mall. You can find the same name brands at stores like this just like you will at the mall. Discount stores often have clearances too, so just keep your eyes peeled for some great deals.
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Thrift Shop
Depending on your area, thrift shopping is a great way to find expensive items for cheap.
Stop Buying Fast Fashion
Clothes that are considered fast fashion are clothes that are in style for the current season and cheaply made. They aren’t meant to be worn beyond that season, so they tend not to hold up well to frequent wearing and they are made of low quality materials and are often deemed “recyclable”.
Buy Staple and Capsule Pieces
These clothing items are made out of better quality materials than fast fashion clothing items. They are often thicker and denser than other items of the same type.
These pieces can last a generation or multiple generations of use. They more commonly come in staple colors and timeless styles.
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How To Spend Less Money on Food
Meal Prep
There are two different kinds of meal prepping, the one where you plan on cooking, and the other where you plan on eating out.
Home meal prepping is when you prep your meals so that you can bulk cook or have a cooking plan for each day. This is a great option if you are trying to eat healthy on a budget.
Restaurant meal prepping is generally done with fast food restaurants, but you use your receipts, rewards, and coupons to get free or discounted food. The food generally isn’t as healthy and it takes more planning out because of the exceptions, limitations, and time limits that some restaurants have.
How to Spend Less Money at the Grocery Store
Don’t Grocery Shop While Hungry
You will practically buy the whole store if you go grocery shopping while hungry. Make sure that you are well fed before you start shopping or you will end up buying a bunch of junk that you don’t really need. This will also help you adhere to a diet if you are trying to only buy healthy foods.
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Stick to the List
Unless you really need the item, found a great deal on an item that you know for sure you can use, or if you just accidentally left the item off the list, you should really stick to the list so you can spend less money during your trip because you will only be buying the items that you really need.
This is one of the most important things if you are serious about learning how to spend less money on groceries. All the planning in the world doesn’t matter if you are just buying random things that you don’t need and didn’t plan on eating.
Shop the Weekly Ad and Sales
The weekly ad will show you what is on sale that week, this is often the best price you will get at the time. You can easily plan out what you are wanting to cook for the week just by looking at the weekly ad.
Plan Ahead
Plan out your shopping trip based on the weekly ads and your meal ideas for the week. You will be able to see which stores you don’t need to visit and will be able to spend less time in the store because you have already planned out everything you need and everywhere you need to go.
Shop the Marked Down Items
Stores generally mark down the items that will expire soon, some stores are better about this than other stores. You can save a decent amount of money on your meals if you first shop from the discounted area, then complete you shopping in the regular area for any items that remain on your list.
How to Spend Less Money on Eating Out
Sign-up for Rewards Programs
Some restaurants have rewards programs that give you either free food, money off your bill, or both. If you keep track of what offers you have you can plan out when you want to eat out.
Check Out Their Website for Coupons or Other Deals
There are sometimes coupons, deals, and other promotions listed on the website of some restaurants. If the restaurant doesn’t have a rewards program, or you don’t want to sign-up for it, this is another great option.
Use Coupons
Coupons are great for getting a discount on items instead of or in addition to a sale or clearance. Depending on the rules for that particular store and brand, you can save a lot of money on the item, or sometimes get the item for free.
How to Spend Less Money on Gifts
Stop Keeping Up with the Joneses
You don’t need to get a new car just because your neighbor does, you don’t need to buy anything just because your neighbor does. Just focus on buying the things that you and your family actually need and save all the extra money. There will come a time when you will need to spend the money and it is better to have the money set aside in the bank instead of asking the bank for a loan and paying them extra money (interest) just to be able to buy what you need.
Live Within Your Means
You don’t need a new expensive car if your old one works just fine, especially if you can’t really afford it. You don’t need new designer clothes, especially if you can’t afford it. You don’t need…..you get where I’m going with this.
Some of the richest people in the world drive regular cars, wear regular clothes, eat regular sandwiches, and even thrift shop. Don’t feel like you need to buy expensive things to make yourself feel wealthy.
Don’t Get Sucked Into Lifestyle Inflation
If you are really trying to spend less money, getting sucked into lifestyle inflation is a horrible budget killer. Don’t subject yourself to lifestyle upgrades just because you make more money. You will never be able to save more of your income if you just spend every raise and bonus you get.
Be Weary of Using Shopping Apps
I’ve noticed that especially with Amazon, you won’t always get the best deal when you are shopping via the app. Even if you do a Google search for the item you are looking to purchase, the results on Google itself are sometimes better than what Amazon shows you on their app.
It is best to just do a Google search for the item or to use the desktop version of Amazon if you are looking for the best deal.
Shop Around for the Best Price
Don’t buy an item at the first store you go to. Look around first and buy at the store that has the best deal. The only exception to this is if you are able to return the item if you find a better deal and that was the last item at that particular store, or that item is particularly hard to find.
A great place to shop around is Amazon, especially since the FBA program is still active. There are many stores on Amazon that are selling the exact same items, maybe with different packaging, maybe with a different sticker on the item itself, but at a different price.
Shop Online
Stores like having better deals online than in-store so they can try to get you accustomed to buying online so they don’t have to pay for as much retail space, overhead and workers.
The prices can be much better online or the online item may come with things that the in-store item doesn’t.
Make a Shopping Plan
Plan out what items you will actually need for the gifts you are buying, crafts you are making, rooms you are decorating, or whatever else you are doing.
Keep Up With Your Receipts
Unfortunately there are still some stores that aren’t willing to look up your credit card to pull your receipt, even though their systems are able to do it. There are also stores that require that you have a physical receipt unless you have their store credit card.
If you need to return an item, you need to keep up with the receipt so you can get a refund for the items you no longer need or want.
Don’t Pay For Shipping
There are plenty of ways to avoid paying for shipping. You can find a coupon code, shop a sale that negates the shipping cost, spend a minimum amount, or even pick a different product that doesn’t charge for shipping or maybe a different store that sells the same product.
Ultimately, as long as you are able to spend less money on the item than other items, including shipping costs, it doesn’t matter how expensive the shipping cost is for the item you are buying.
Shop For Next Year at the End of This Season
You should try shopping during the “off-season”, especially right as the season is coming to an end, you will find some deep discounts on brand new items just because the retailers are trying to make room for the inventory for the next season.
