Disclaimer: I am not a professional financial advisor. I am just sharing what works for me in terms of personal finance.
Saving money may not come naturally for some people. Just the conscious effort of saving can make a person feel cheap and deprived. Thinking of saving long term can make it seem even more challenging! However, saving money doesn’t have to feel miserable. Here are some sneaky, little ways to save a couple of bucks without making you feel deprived.
1. Stock on non-perishable items that you regularly use when they are on sale
Dishwashing soap, toothpaste, toilet paper, laundry detergent, nappies, etc. – if you use these things regularly, and possibly go through them quickly, then stocking up when they are on sale is a great way to save.
2. Cut unused subscriptions and memberships
It could be subscriptions to cable television, streaming services, gym memberships, or even for your monthly glossy magazine. Evaluate which ones you really use regularly and cut the rest. Maybe you could even streamline your subscriptions, especially if you have multiple subscriptions for similar services.
3. If you cook, plan your meals according to what’s on sale or in season
First if all, cooking your own food can already save you heaps. If you buy ingredients that are on sale or are in season, then you’ll be able to save a bit more.
4. Use your loyalty points
Loyalty points are basically free money. Go ahead and use them up.
5. Look for more affordable alternatives
You can give generic and grocery brands a try. They are usually just as good as branded ones, at a fraction of the cost.
6. Think about which stuff or experiences you’d rather not compromise on
My personal guideline is to spend on things that are important to me, and save on the rest. I can buy cheaper brands of cereals and pasta, but I will get the bread that I want. While travelling, I can get cheaper accommodation (as long as there is a private bathroom), but I will spend on dining and trying the local cuisine. Allowing yourself to spend on the things that matter can make saving more enjoyable.
Good luck and happy saving!