If saving money is one of your new year’s resolution and you are looking for ways to keep more of what you earn in your bank account, read on.
Trent Hamm from The Simple Dollar has put together a comprehensive list of 100 Great Tips to save money. I’m highlighting 5 of those tips that I could have never thought of on my own. To read Trent’s entire article please follow the link at the end of this post.
So, lets get started…
1. Drink more water.
Trent points out that “Not only does drinking plenty of water have great health benefits — it has financial benefits, too. Drink a big glass of water before each meal in order to stay fuller longer and ultimately eat less. Not only will you save on the food bill, but you’ll also feel better after you become properly hydrated.
Even better, drinking more water — whether in a refillable bottle or at restaurants — means spending less money on beverages like soda, juice, and tea. Remember: tap water is not only just as clean as bottled water, it’s also FREE!”
I agree. What say you?
2. Turn off the television.
I could have never thought of this one but Trent has me convinced! He makes a good point that watching less TV could be the key to changing things around in life for good. Trent says that “One big way to save money is to drastically cut down on the amount of television you watch. There are a lot of financial benefits to this: less exposure to spending-inducing ads, a lower electric bill (and perhaps a lower cable bill if you downgrade your subscription), more time to focus on other things in life — such as a side business — and so on.”
I agree. Side business is the way to go!
3. Don’t spend big money entertaining your children.
Got kids? I do. This one really makes sense to me. Trent makes a point that “Most children, especially young ones, can be entertained very cheaply. Buy them an end roll of newspaper from your local paper and let their creativity run wild. Play ball in the backyard. Head to the park. Plant a garden. Teach them to ride a bike without training wheels once and for all.
Realize that what your children want most of all is your time, not your stuff, and you’ll find money in your pocket and joy in your heart.”
My kids definitely want my stuff. But I agree that spending time with kids goes a long way towards strengthening relationship with kids. I wonder what would my kids prefer?
4. Share your dreams with people you love.
What? This one really had me intrigued? I could not help but read what Trent had to say about this one. Trent explains “This seems like an odd way to save money, but think about it. If you spend time with the people you love the most and come to some consensus about your dreams, it becomes easy for you all to plan for it. Set a big, audacious goal together and encourage each other to be financially fit – soon.”
Hmnn?? I am wondering if I should share my dream of buying a 75″ Smart LED 4k Ultra HD TV with my wife??
5. Use a brutally effective coupon strategy.
Every once in a while, I use printable coupons to score an in-store freebie. All along, my coupon strategy has been to clip the coupon and use it. So, you can imagine that Trent had all my attention with this headline.
Trent explains “To save as much money as possible, use the coupons in conjunction with your grocery store flyer and shopping list. Doing so can help you save double – both through the initial sale savings and through the use of the coupon. This strategy also helps you avoid purchasing items you don’t really need just because you have a coupon or discount.”
Hmnnn… I never thought about using coupons like this. Good strategy, indeed.
A penny saved is a penny earned. So, I will definitely be trying to implement as many of Trent’s money saving tips as I possibly can. Tips such as “drink more water” goes hand in hand with my other New Year’s resolution of being healty … so I am all for it.
You can read Trent Hamm’s full 100 Ways to Save Money article HERE.