10 Savvy Money-Saving Strategies for Today’s Economy
The hit on the global economy spiraling from the pandemic and the ongoing war in Europe has led to skyrocketing prices of goods and services.
Organizations are cutting costs through mass layoffs, and the need for you to save more for rainy days has never been more pertinent than it currently is. Here are the best tips from the girl's survival guide community for saving significant money.
1. Side Hustle
Earning is a precursor to saving. Freelancing, home servicing, and bookselling are some side gigs one user has used to earn, save and stay afloat. “I save so much now that I have another means of income.” Several users claim to have taken to gigs other than their main job for income to leverage the inflow of cash.
2. Meal Prepping
Meals can be proportioned and preserved for later consumption. A user named Caigtie confesses, “This helps me reduce food expenses to only what I need. I buy veggies and seasonal fruits; I make soups, stews, and chilis to eat with bread.”
3. Thrift Shopping
Buying used clothes is perceived as an intelligent way to get quality wardrobes at low rates. One user suggests air drying clothes, washing with cold water, adapting a gentle washing routine, and not using fabric softeners to prolong wardrobe longevity. Several users find this approach to taking care of thrift wears very helpful.
4. Streaming Services
According to one user, YouTubing instead of streaming is the go-to option to save money. “It has a lot of great movies to watch for free.” Paid platforms are expensive, and streaming services become unattractive with the cost of streaming data. Additionally, Pluto TV and Tubi have loads of free programming streaming.
5. Beauty Expenses
Beauty products are expensive. There are, however, many cheap ones that offer the exact cosmetic solutions like choice brands. Products like face masks, lip scrubs, and feet scrubs can be made at home. Someone says she now cuts and dyes her hair at home, saving $400 in salon fees.
6. Fewer Beverages
Reducing the intake of beverages is how one person claims to spend less. While there are cravings, the rate of indulgence has been cut low. Cutting down also helps reduce sugar intake and live healthier.
7. Manage Utilities
Taking note of the usage of specific home resources goes a long way in helping cut down utility bills. One user shares that from electricity to water and waste management, a light bulb off, a bowl of water saved, and a biodegradable choice of products with less waste can help keep more dollars in your purse.
8. Budget Creation
Budget creation helps with financial stability. One woman says you can build an intense saving routine with a budget for how money gets spent. Several users believe budgeting is the first sign of financial discipline toward saving extra bucks for other purposes.
9. Private Saving Account
Automated saving every time she gets paid is how another woman claims she saves monthly. “Although the money is accessible, it's seemingly easier not to spend if it doesn't reflect on my banking app balance.”
10. Coupons and Penny Shopping
Coupons are a suitable means of getting items for free or lesser prices. An individual claims “it is beneficial' and that ‘she highly recommends it.” Penny shopping is also a great money move, “buying things at low prices and reselling later” is how someone claims to make extra bucks. Sometimes the items get traded with friends and family for other things needed.
This thread inspired this post.
