Tag: saving

  • 20 Things To Stop Buying To Save Money Starting Today

    20 Things To Stop Buying To Save Money Starting Today

    Don’t know where all your money is going? Then it simply means you are using money in ways you shouldn’t! There are definitely some things you can stop buying to save money. Thinking about how you always become broke so fast, you almost believe that there is an unknown spirit somewhere that spends your money without your knowledge, but sorry to burst your bubble, there is no unknown spirit anywhere spending your money—you just have an extravagant lifestyle and a poor saving habit. Truth hurts!

    Saving money should be the yin to the yang of your earning money. The truth is, you won’t always be broke if you save towards the rainy days. And an efficient way to help you save money is to create a budget, stick to it and stop buying certain things that you actually don’t need (like that new Gucci bag you’ll only use once!).


    Note: This post contains affiliate links, which means I may earn a small commission – at absolutely no extra cost to you – if you purchase something through one of my links. Please see my full affiliate disclaimer here.


    A lot of people would argue that you can’t save your way out of poverty, and that’s true, but you also need to save towards having investments, starting a business and meeting your daily needs, which are ways to achieve financial freedom.

    How you make use of the money you earn is as important as how you earn the money. You need to cultivate the habit of saving if you want to experience a positive turnaround in your financial life, and it takes discipline to make up your mind that you want to save.

    Here are 20 things that hinder you from saving. Stop buying these things if you really want to save your money!

    1. Fast foods

    So, it’s okay to eat out once in a while because you are probably tired or need something quick, but you shouldn’t make it a habit

    Eating out can be very expensive and before you say Jack Robinson, you will realize that you have “eaten” half of your monthly income by spending it on food alone (can I get an Amen?).

    It’s much more advisable to stock your house with groceries and natural food items, take your time to cook and store your food in the fridge for later, then you can just warm it in the microwave whenever you want to eat it. 

    Not only would you be saving your money, you would also save yourself from the fear of eating unhygienic food outside.

    2. Online subscriptions services

    Subscription to online services like magazines and apps can leave a very huge dent in your bank account because most of these things are automated and you have to pay for it whether or not you need it.

    It is more reasonable to use free apps and unsubscribe from any unimportant online service you are subscribed to, by doing this you will be saving yourself a whole lot of moolah.

    3. Data subscription

    Data subscription is one service that takes a whole lot of money without you even realizing. We are in the age where everyone wants (needs) to use the internet, but in cases where you are just using your data to surf the internet aimlessly, without earning or benefiting from it in any way, or using it to learn something, it would be in your best interest to cut back on your data subscription. 

    When you’re bored at home in your free time, it’s easy to burn data for lack of anything better to do. Instead, use this time to learn a new skill, read a book, and generally be productive. 

    If you are using data for business or to learn a particular thing, then you need to find the cheapest plan that works for you and set a limit for yourself in order to prevent excessive and unnecessary spending. 

    4. New gadgets

    Most people want to use the latest smartphones, laptops and tablets, not necessarily because they need it or because their old one has stopped serving them well, but simply because they want to show off. 

    It’s alright to get an upgrade from an old gadget to a new one especially if it is useful in your field of work and of course if you can afford it, but if that isn’t the case then you should continue to use the old one as long as it still works fine. 

    Don’t break the bank because you want to get a new gadget that you don’t even need, be wise about your spending—only then will you be able to save.

    5. Expensive designer brands

    It’s okay to buy a designer brand in order to make a fashion statement, but go for the brands within your budget range. 

    It can be hard sometimes because you want to spoil yourself and slay in a known designer brand, but you need to discipline yourself to be smarter with your spending. 

    Also, not all things designer actually make sense to spend your money on. For instance, there’s this designer paper bag that costs about $1100! Now tell me, why buy a paper bag for that amount when you can get a regular one and still use it for the same purpose? Oh well, I guess the rules of the rich are different. 

    There are lots of affordable designer brands out there with almost the same quality as the popular designer brands you want to purchase. It would be a wise choice to purchase one of those. As the saying goes, “Cut your coat according to your cloth.” 

    6. Buying on impulse

    The major cause of impulse buying is not having a budget and a written list of items you need to buy when you go shopping. 

    Impulse buying is one of the things that take up all your money, because you eventually realize that you bought more of the things you don’t need and less of what you actually do need. 

    Creating a budget for yourself and a list of the important items you need to buy before you go shopping will save you from impulsively buying the things that you don’t need.

    7. Unnecessary beauty products

    It is true that looking good is good business, but you shouldn’t go broke simply because you want to look or smell good. 

    There are lots of DIY beauty products you can make by yourself to use. But if you can’t, then you should purchase the beauty products that are more affordable.

    8. Junk, alcohol and soda

    It’s very easy to buy ice-cream, chocolates, snacks, alcohol and soda drinks when we crave for them, but what we fail to realize is that a lot of money is gradually going into purchasing these items, thereby draining our account.

    Sit down and calculate the amount you spent on junk food, alcohol and soda last month, then ask yourself how much more you would have saved up in your account if you went without those things.

    Some people would argue that the money is very little or insignificant but we all know that it is little drops of water that make an ocean. 

    It’s absolutely fine to give yourself a treat sometimes, but it shouldn’t be all the time because the truth is that you can survive without taking these things. In fact, they do you more harm than good, both your pocket and your health.

    9. Going to the cinema

    Why go to the Cinema to see a movie twice every week, when there are platforms like Netflix to watch movies on? 

    Imagine how much you would save yourself if you stopped going to the cinema as often as you do. Until you take a conscious effort to save, you might never get to do it.

    10. Buying in bits

    It’s very advisable and economical to buy items you need in bulk rather than in bits because buying more items at once saves you a whole lot of money, time and stress compared to buying them one by one. 

    11. Expensive outings and vacations

    Who doesn’t enjoy a good vacation and unwinding? It’s completely fine and fun to go on vacations and outings if you can afford to, what isn’t fine is exceeding your budget or borrowing money, simply because you want to have fun or look good in front of your friends. 

    Think about how much money you would be saving now if you decided to postpone your vacation to a later date when you are more financially capable. 

    12. Buying things for the purpose of impressing

    Most people suffer from FOMO (“Fear of missing out”) and they are constantly trying to fit into a certain part of the society or buy certain things in order to impress their family and friends. You deserve to enjoy the good things of life, but that should not be at the expense of your ability to save.

    Stick with what you can afford now, then work and save towards being able to comfortably afford better in the future.

    13. Unimportant home appliances

    Some of us buy home appliances that are not useful simply because it was on sale or a friend was selling it. Why not transfer the money you use on such things into increasing your savings? 

    Remember, appliances don’t increase in value, so even if you think you can re-sell them later, the truth is, by then it would have lost so much value that no one will want it! 

    14. Unnecessary event or concert tickets

    Attending events and concerts are a very good way to entertain ourselves, no doubt, but you shouldn’t make it a priority or be in attendance at the expense of your savings.

    If you can’t afford it without it affecting your savings, sit at home and entertain yourself (make a twerk video if you’re that bored. Who knows? You might just become rich and famous for it…but then again, who wants to be famous for that?).

    15. Expensive Jewelry

    Jewelry can be very fashionable but it is important that you settle for the ones within your budget range. 

    These items are luxuries and not a need that you can’t do without, therefore you need to choose the money you spend on purchasing them wisely.

    16. Betting

    There are people who believe that they will make a huge fortune from betting one day and these set of people don’t mind spending the little income they earn on it. 

    If that were really the case, then a lot of people should be billionaires from betting. Instead, the little money that people win from it sometimes, still goes back into playing in hopes of winning more. What a cycle!

    Being addicted to betting and gambling is in itself a very dangerous and bad habit. Save the money you would normally use on betting and use it for a more profitable business or investment.

    17. Clothes for occasions

    Often, we break the bank to buy a new outfit for a one-day occasion and we end up not wearing the outfit after that day. 

    Instead, use the clothes you had before for the occasion and save the money you want to spend on buying a new one because you will eventually tuck it away deep in your closet anyway.

    18. Cheap but low quality products

    It is better to buy an expensive but durable product than a cheap one with a very low quality.

    This doesn’t mean that all cheap products are of low quality and all expensive products are durable, but if you find out that a certain product is cheap but of low quality, go for a more durable alternative regardless of if it is more expensive. 

    In the end, you will realize that you would have spent more money on replacing the cheap low quality product several times than you would have spent on buying the expensive but durable one just once. 

    19. Cable TV subscription

     With many online TV options to choose from that you can access on your mobile gadgets, it is more reasonable to opt for those options and save yourself the unnecessary cost of subscribing to cable TV. This is especially if you barely watch TV. It’s simply going to waste!

    Or you could simply give up watching TV entirely, and see how your life changes for the better. With all that extra free time on your hands, who knows, you could finally start that business or write that book you’ve been meaning to!

    20. Transportation

    If you are going somewhere and you can reach the place comfortably by foot, then by all means do so. 

    The money spent on the public transportation you would have taken or the fuel you would have used in driving can be saved for a better use. Also, don’t be lazy. Use those legs, baby!


    As Warren Buffet said, “Do not save what is left after spending; instead spend what is left after saving”. 

    Although we don’t ever wish for problems, they are an inevitable part of human life. So the next time you think of making that impulse purchase or buying an expensive item that you don’t need, think about what would happen if a money emergency came up suddenly and you don’t have any savings or anyone that could quickly come to your aid and help you solve the problem. You can definitely save money if you stop buying things you don’t really need.

    If not for anything, it is paramount that you are very careful with your spending in order to gather enough savings to help you on your journey to financial freedom.

    Psst – Do you find yourself worried about money constantly? Always thinking that there’s never enough? Then you really need to work on your money mindset, which can be the biggest thing that’s keeping more money from coming in.
     
    I’d highly suggest you watch this video and reprogram your brain from scarcity thinking to abundant thinking. There’s some testimonials in the video which you can skip but there’s some valuable content within. Why not check it out?

     

    Remember to pin these 20 things to stop buying to save money!

    If you found this post about things you can stop buying to save money helpful, even just a tiny bit, please take a moment to pin it to your savings board on Pinterest. Thank you!

    Things to stop buying to save money

  • 10 Real Ways to Save Money on Groceries When Shopping on a Budget

    10 Real Ways to Save Money on Groceries When Shopping on a Budget

    Grocery shopping can often times take up a large chunk of our monthly budget. I know most of us are always trying to save money where we can, and shopping for groceries are no exception. With the help of some smart shopping tips and habits, it is possible for you to save money on groceries. Here are some of the methods you can employ to save money on groceries so you can stick to your budget.

    Note: This post contains affiliate links, which means I may earn a small commission – at absolutely no extra cost to you – if you purchase something through one of my links. Please see my full affiliate disclaimer here.

    Eat Less Meat

    It’s no secret that meat is expensive and adds up to a big number on your grocery bill. Eating less meat could save you up to a $1000 a year. I’m not saying that you should cut meat out completely, but limiting it to 2 or 3 times per week could go a long way towards saving you some money.

    Replace some of your usual meat based meals with meals not centered on meat. You can try things like eating more veggies, lentils or beans. You can also buy more chicken instead of the meat you would normally buy, as chicken often tends to be cheaper than meat.

    Don’t Shop While Hungry

    Avoid shopping for groceries when you are hungry. You are much more likely to blow your food budget when you are hungry and reaching for everything in sight that looks tasty. Rather eat a good meal before you go grocery shopping, this way it’s easier to stick to your shopping list.

    Skip Prepared Food & Meals

    I know buying prepared food can be super convenient and a great time saver, but that convenience doesn’t always come cheap. In almost all cases, if you buy the ingredients and make the meal yourself, you’ll end up getting a lot more bang for you buck. If you end up making more than you need, you can always freeze the leftovers and save it for later.

    Buy in Bulk

    Bulk items are often listed at a cheaper price per item than the price of the individual item. If you see an item that you know you will use available in bulk on special, it might be a good idea to buy in bulk. This way you can stock up on items that you know you will need while it’s on sale and ensure you have enough of it until it goes on sale again.

    Meal Planning

    Meal planning goes hand in hand with your shopping list. If you plan your meals for the week ahead of time, you can create your shopping list accordingly. This helps you stick to your meal plan as well as your budget. Before you plan your meals, look at the weekly specials of the stores around you and see if you can incorporate those items in your meal plan to save extra money.

    Use Coupons

    Using coupons can be a great way to save money on groceries, however, make sure you don’t fall into the trap of buying things you don’t really need simply to make use of coupons. To make the most effective use of coupons, combine them with store sales to save even more.

    Make A List

    There is a saying that goes “Failing to plan, is planning to fail”. This is also true when going shopping. Make a shopping list before you go shopping and stick to it.

    Once you have your list, you can also look at the different stores around you to see if they are running any specials on the items you need. Having a list to stick to holds you accountable and ensures that you only buy what you really need.

    Be Aware of Sales

    When you already have a shopping list planned out, it’s easier to shop the sales. If you know exactly what you are looking for, its easier to match up which stores have a sale or promotion running on those items. You can also combine this with meal planning and plan your meal according to the sales of the shops around you.

    Skip the Brand Names

    I know we all love buying brand names, it’s the products we know and love, but sometimes we can get the exact same product from a generic brand for a lot cheaper. Generic brands often have the same product and quality, so don’t be afraid to give it a try. If you are skeptical, you can also compare the ingredients of your favorite brand to that of the generic brand – chances are they will be almost identical!

    Compare Prices per Unit Size

    We all sometimes reach for the biggest size and think that we’ll be saving money by buying the bigger container. Unfortunately this isn’t always true as some companies are more sneaky with their prices. You’ll be surprised to know that in some cases buying two or more smaller containers actually works out cheaper than buying the large one.

    Also check out this list of 20 things you can absolutely stop buying to save even more money!


    Hope you found these tips useful and that they actually help you to save money on groceries going forward. If you have any other habits that help you save money on groceries, let me know, I’d love to hear about them!

    Psst – Do you find yourself worried about money constantly? Always thinking that there’s never enough? Then you really need to work on your money mindset, which can be the biggest thing that’s keeping more money from coming in.
     
    I’d highly suggest you watch this video and reprogram your brain from scarcity thinking to abundant thinking. There’s some testimonials in the video which you can skip but there’s some valuable content within. Why not check it out?

     

    Don’t forget to pin this post!

    Save Money on Groceries