Simple Ways To Save Money Each Month

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Simple Ways To Save Money Every Month

         Saving money is important – we all know that. But sometimes everyone needs some help in coming up with ways to save money. I’m going to break down the exact strategies that I use to save more money each month. If you know me, you know I’m pretty lazy when it comes to this stuff. But these tricks and hacks are simple, and they save a lot of money.

Here are several simple tips and tricks to save money. 
Use A Cash Back Reward Credit Card For All Spending
The first tips to save money,, and one of the most important ones, is to use a cash back rewards credit card for all spending that you do. I’m talking everything.
The best rewards credit cards pay 2% cash back as a baseline. Some cards offer up to 5% on special categories of spending as well. You can find the best top cash back rewards cards here.
By putting everything on a rewards credit card, you’re saving at least 2% on everything you spend each month. If your average spending is $1,000 per month, this tactic can save you $20 per month.

The problem is, people don’t spend everything on the same card. For example, I recently discovered that my car insurance could have been paid for on a credit card. I’ve been having it directly debited from my checking and earning no rewards. Considering the my bill is about $100 per month, I could have been saving $2 per month for literally doing nothing. I switched it over, and now I’m saving money!

52-Week Chalenge
Best ways to save money every month is through the 52-week challenge. The 52-week challenge’s simple. You start out week 1 by saving $1. Week 2 you save $2, week 3 you save $3 and so on.
The plan is to add one extra dollar per week until you put away $52 the final week of the year. This alone will allow you to save $1,378 per year. Even if you don’t start at the beginning of the year you can harness a lot of power by making stashing money away in savings a regular habit.
Make it easy on yourself and automate the transfer so you don’t even feel it. You can do that with Chime Bank as they operate entirely online. The fee-free bank pays just .01 percent interest on your cash, but their checking account pays .10 percent plus rounds up each transaction to the nearest dollar and places it in your savings account.

Use Spending Tricks To Boost Savings
There are spending tricks that you can use to boost your savings when making a purchase. The problem with many of these tips is that it can take a lot of time and effort to find the best ways to take advantage of credit card deals. And like I said earlier, I hate spending time and effort if I can’t get the reward easily.
However, there are simple tips that you can do right now to boost your savings. The easiest way to do this is to simply take advantage of credit cards that pay more for certain categories of spending.
For example, American Express is offering a Blue CashBack Everyday Credit Card, which pays 3% cash back at supermarkets.

Cut The Gym Membership.
Should you keep your gym membership if you want to lose weight? In a word – NO! According to Statistic Brain, $40 per month is wasted on the cost of the average gym membership.

Cut cable
This  is the easiest way to save money every month. I’ve written about how we canceled DirecTV (here are ways to cancel DirecTV if you’re under contract) and are now saving almost $90 per month. The average cable bill is over $110 per month.
There is no reason to spend this much to get television content as there are so many cheaper options available. If you don’t know how to watch ESPN without cable, have no fear. Most of the streaming providers make it possible without a nasty contract. Losing sports was what held us back from cutting the cord. It’s relatively simple to replace it with a streaming service.

Supercharge Your Savings Today!
Earning more on your savings right with CIT Bank. They pay 2.20% interest on your balance when you commit to depositing at least $100 per month into your savings account via ACH. Plus, they charge no fees, which helps you save more money faster.
Enjoy quick and easy access to your money, which is FDIC insured up to $250K.
You can lose weight without paying to join a high-priced gym. I lost 100 pounds on Nutrisystem and didn’t step foot in a gym. I walked and used free videos on YouTube. I’m proof it can be done without paying a lot of money to exercise.

Eliminate Food Waste
I hate food waste as it’s literally throwing money in the trash, but we all do it. The average 4-person family has $1,500 in food waste each year, according to Save the Food. Cutting back on food waste equates to an automatic raise.
The easiest way we’ve found to combat this is to have a meal plan. It’s not a stringent plan, but it has helped us find a way to cut down on waste and save money.
If a meal plan sounds overwhelming or not exciting, check out $5 Meal Plan. You get a free 14-day trial and they help you get started forming meal plans that will save time and money, plus give you meal ideas.

Get Rid Of Your Cell Phone Contract
Another best ways to save money each month. The average cell phone bill for Verizon and AT&T is almost $150. There is no need to spend that much every month.
We switched to a cheap cell phone plan and now save over $100 per month. You can get a plan with Tello for as low as $5 per month. You can customize your plan based on your specific needs and situation.

Make Your Own Bottled Water
The average person spends $100 per year on bottled water. Now I know in some towns the tap water isn’t really that good, so this may not apply to everyone, but there’s no need to spend that on bottled water.
If you like to drink purified water, you can buy a water filter to get the same basic thing.
Total savings = $100 per year

Use your Credit Card
Yes, a credit card can help you save money every month…if you use it right. If you’re in debt or struggle with spending, you should not get a credit card. In that case, you should focus on other ways to save money every month.
However, if neither is an issue for you, then you can save money with a credit card by taking advantage of sign-on bonuses or cash back – you can find many of those cards here. We personally financed over $15,000 in travel last year this way.

Negotiate Everything
Many people don’t feel comfortable negotiating. When you don’t negotiate, you overlook ways to save money. This can range from car insurance to Internet service to utilities. If you’re telling yourself “I need money today,” negotiation is the best way to put money back into your budget.
We regularly call providers to see what discounts might be available and easily save $250-$500 per year as a result. Don’t know where to start? Just call each provider and eliminate any unnecessary charges.
If you don’t want to do the work yourself, Trim, which is a free to use app, will negotiate bills for you and let you bank the savings.

Cut Eating Out In Half
We enjoy eating out, but we rarely do it as it’s expensive. The average family spends $225 per month eating out. Cutting this is one of the simplest ways to save money each month. I believe this number is low, however. Remember my friend who admitted to spending $30,000 in one year eating out?
That is an extreme, but the point remains – you can spend a lot of money eating out.
That doesn’t mean you have to stay home to eat rice and beans but try by cutting it in half. You still get to eat out, but you save money.

Bonus Ways To Save Money Every Month
There are several ways to save money every month, so no list is going to be exhaustive. That being said, here’s a list of the best ways to save money each month. If you have more ideas, I’ll happily add them to the list.

Save your raise.
Save your spare change in a change jar – include $1 and/or $5 bills as well. You can do the same thing digitally with CIT Bank – as they have a $100 minimum balance requirement and you can earn 1.85 percent if you choose a money market. If you automate it, then it’s done for you without any effort on your part.
Take your lunch to work.
Avoid out of network ATM fees. The average out of network ATM charges nearly $5 per transaction, according to CNBC. It doesn’t make sense to pay money to access your money.
Take Uber as opposed to a taxi. In most instances, one or both can be the cheaper option.
Ditch the whole life or permanent life insurance. You can save significant money by switching to term life coverage. If you don’t know where to start, try PolicyGenius to find the best options available.
Don’t play the lottery. The average person spends $25 per month on the lottery.
Refinance your house to get a lower interest rate. Compare rates at LendingTree to get the best possible rate..
Find cheaper car insurance. Nearly 40 percent of drivers haven’t compared rates in three years. If that’s you then you might be leaving hundreds of dollars on the table each year. Compare rates at Esurance to see how much you might be able to save.
Consolidate or refinance your student loans. Not only does this make repayment simpler as you have only one monthly payment to manage, but it also lets you pay them off quicker through the reduced rate. Check rates at Credible to see how much money you can save on student loan payments.

Lots of ways to save money; you just have to put some into action. You won’t be able to do all of them, but even a few of them will help you save several hundred dollars per month – that’s life-changing kind of money.

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