16 Simple Ways to Save Money

Whether your motivation is paying down debt, saving for a vacation or holiday, saving money doesn’t have to be stressful or complicated. Here is a list of 16 practical ways you can start saving money. Pick a few that best fit your circumstances and watch the savings add up.
To really be effective, you should physically set aside the money you are saving in a separate account or even in a change jar, so you can see the savings stack up.

Stop Drinking Soda: Or alcohol. Both habits are pricey and not particularly healthy. Not only will you save several dollars every time you say no, you might just find yourself slimming down without the empty calories.

Get rid of cable: Cable is expensive. Save yourself a little money by ditching the service and opting for a movie rental service, renting from the library or skipping the telly altogether for something more social, like board games or dancing.

Use coupons: Don’t be shy. Save yourself some money and use a few coupons next time you head to the store, every penny counts.

Use public transportation: You could easily save hundreds of dollars by switching to public transportation. Eliminate car payments, insurance and gas expenses in a snap.

 
Shop at second hand stores: You don’t have to purchase everything new. Find clothing, housewares, books and other items much cheaper at a second hand shop.

Cook at home: Stop wasting money and groceries and cook at home. Cutting out even one or two meals a week could add up to several hundred dollars a year.

Air dry your clothes: Skip the dryer and hang your laundry on the line. You’ll save tons on your energy bills.

Unplug everything: When your television, microwave, gaming systems, toaster and computer aren’t in use, unplug them. When you leave them plugged in they still continue sucking energy.

Visit the library: Libraries provide free entertainment in the form of books, magazines, CDs and movies. Cheap, easy and a fair few options.

Pay with cash: Get rid of the cards. You’ll naturally spend less because you’ll be able to see the cash leaving your hands. Toss any change at the end of the day into a jar and watch your savings add up.

Stick to a menu: Instead of shopping on intuition, create a menu and stick to it. You’ll save tons of money on unnecessary purchases and wasted food will be a thing of the past.

Get crafty: When holidays and birthdays approach, whip out your hot glue gun and jewels and get crafty. There’s no need to go broke buying for others. Keep it simple and thoughtful for a less expensive, more personal gift.

Wait it out: If you want to make a bigger purchase (or even a smaller luxury purchase) give yourself a time limit. Wait at least two weeks. If you still want the item purchase it, but you may find that the urge to buy has passed.

Repair your clothing: Instead of buying new clothes when you get a tear, learn to sew or patch and do it yourself.

Shop Generic: Skip the name brand items for the cheaper, still great tasting/long-lasting item. You’ll save a few bucks and won’t notice the difference.

Go term: Skip whole life insurance policies and invest in cheaper insurance policies. You’ll still have coverage but it’s cheaper and a better investment.

Saving money doesn’t have to be a headache or stressful. Make a few simple changes and you’ll be surprised how much further your money goes. Checkout additional ideas on saving and income generation here