Save Your Money!

Whether you’re saving up for a big goal or paying down your debt, cutting costs is one of the best ways to do more with the money you have. You have plenty of options for spending less without feeling like you’re depriving yourself. Because you can cut costs in so many ways across multiple categories, I’ve grouped the ideas for each area of your budget. Check out this list of suggestions to save more money.

A. Get a roommate.

If you’re single, or even if you’re a couple, you can cut your housing costs by living with a roommate who will also help with some chores.

B. Move in with family.

Depending on your age, you may have the option of moving in with your parents or other relatives who could host you either for free or very little. There’s no shame in being financially prudent — just be sure to put aside some money so you can eventually get your own place.

C. Walk or take public transportation.

One of our biggest expenses tends to be transportation, so if you live in a pedestrian-friendly area, this is the cheapest mode of transportation. Just walk! It’s absolutely free, and you get exercise, too! If you live in an area with good buses, subways, etc., this will keep your transportation costs to a minimum; moreover, it’s usually faster than walking. You can also choose to cycle. It has the advantages of being faster than walking but still providing an opportunity for exercise, and of being cheaper than public transportation and, depending on where you’re going, sometimes even faster.

D. Use Skype, Vonage, WhatsApp and other call and texting apps.

Get smarter about your cell phone usage. Call other Skype users for free, or use Vonage, which also uses the Internet to make calls. With texting apps like WhatsApp, your messages won’t count toward the total on your mobile bill.

E. Don’t shop hungry.

You’ve probably heard that you buy more junk food at the grocery if you’re hungry. Yes, it’s true. In fact, don’t shop at all when you’re hungry, as you’re more likely to spend more — even on items other than food. Another useful idea is to buy a water bottle. Don’t buy bottled water.