To save money effectively, make small and practical changes like automating your savings, meal planning, and cancelling unused subscriptions. Unplug appliances when not in use to reduce energy costs, and consider carpooling or public transport to save on fuel. Switching to cash instead of cards and having no-spend days can also help curb impulse purchases. These habits, when adopted consistently, contribute to long-term financial health while fostering mindfulness about spending and sustainability.
When making payments becomes so convenient, you are more likely to fall into the trap of spending more than you require precisely because it’s now so easy to make payments. Things that may seem like a small cost can all add up at the end of the month. If you are serious about saving money, here are some small and big changes you can make to your everyday lifestyle to help you out.
1. Automate Your Savings
If money sitting in your account is enticing you to spend more, try to set any extra money aside at the beginning of the month. After paying off your rents and bills etc., automate a transfer, however big or small, from your checking account to a savings account. This way, you can put some money aside at the start of each month, which will eventually help you get into a habit of saving.
2. Meal Planning
Planning your meals at the start of the week will not only lead to less stress during the week, it will also cut down on any unnecessary purchases of food items or eating out, thus saving you money. Be sure to make your grocery purchases once a week while following a list. Although grocery apps can be an extremely convenient option for last-minute groceries, try to go to the store to buy your groceries to avoid any impulse buying. Those instant grocery app purchases do add up.
3. Cancel Unused Subscriptions
OTT subscriptions may appear small individually, but they can rack up to Rs 2000-3000 a month. Check your subscriptions frequently and unsubscribe that ones you don’t use often enough. This includes any gym memberships or that wall pilates class you only took once.
4. Unplug Your Energy Guzzlers
Almost everything apart from your refrigerator should ideally be unplugged after use. This includes any chargers, game consoles and TV when you’re not using them. Simple habits like switching off the geyser, ACs and lights and fans when not in use can help you save substantially on your electricity bill.
5. Consider Carpooling or Using Public Transport
With fuel costs rising every month, the best way to save money every day, consider taking the Metro or carpooling with coworkers, which lets you split the cost of fuel and save. Check for already existent carpools in your office or around your society. Additionally, this is also reducing your carbon footprint which is good for the environment in the long run.
6. Use Cash
If you are serious about saving money, ditch the plastic. Remove the debit and credit cards from your wallet and carry only cash. Uninstall quick fashion, grocery and food apps that tempt you to do mindless scrolling and buying. If you do need these apps, use them only for emergency purchases of things that are not easily available around you. Think about not linking your UPI payments or phone banking details to these apps. The less convenient you make purchasing things online, the less often you are likely to do it.
7. Have No-Spend Day or Weekend
Challenge yourself to not spend anything for a day, or a weekend, and eventually even weeks. During this time, spend only on the essentials like food and transport. This will force you to think about what you need versus what you want. Save every day what you’ve been spending so far in the coffee shop or at the mall or online stores and buying yourself something substantial in the future. It could be a car or the down payment for a house. Be careful to avoid revenge spending once the challenge ends, where you end up spending more afterward because you tried to cut out so much the week before.
Saving can become a lifestyle, just like eating right and exercising. Prepping your meals beforehand, making sure you are mindful of electricity usage, automating your savings to put aside any extra money before you get a chance to spend it, carpooling, are some of the daily practices that will help you make substantial savings in the long term.
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