4 Tricks To Help You Spend Less, Save More

It’s easy to fall into a daily spending routine when the barista at the corner coffee shop knows exactly how you like your brew and your favorite deli is two quick steps from your office. Convenience and habit are two of the biggest culprits for spending and can be a major hurdle in the way of achieving savings goals.

To counteract this easy habit, focus on mindfulness; consider where your money goes and come up with some new, less expensive ways to get the fixes you crave. But before you nix the daily deli stops or cut back on lattes, be sure to replace your old routine with something new. If you deprive yourself of your favorite sandwich shop, you’ll need to replace that old routine with a new one to counteract that habit. This might mean establishing a time over the weekend or every morning to grocery-shop and prep food for easy lunches and dinners, or making sure your favorite coffee is ground and ready for your home coffee maker. You may find that you enjoy your homemade sandwiches better than the ones from the deli next door! Alter your routine, and mindless spending can be curbed in the process.

Even if you head to a big-box store armed with a list of needs, it’s easy to walk out with a dozen other impulse purchases in your cart. You’re not necessarily off the hook if you avoid those big-box stores either: maybe you’re a little overzealous with online shopping or stocking up on food from specialty (read: expensive) grocery stores. Or you might notice your spending trends aren’t location-based but emotion-based instead. A bad day at the office sparks a desire to go out for drinks and dinner, or loneliness makes you crave a trip to the mall. A study from the University of Michigan found even hunger can influence spending habits, with hungry subjects spending, on average, 60% more on nonfood items than their full-tummy counterparts. Try keeping a spending diary to help pinpoint your spending triggers; it will allow you to anticipate these cravings and find more affordable (and healthier) ways to overcome them. When shopping online, you can check price comparison websites like hoteudeals to compare amazon prices across Europe.

While fixed expenses — like rent and car hire payments — probably consume the lion’s share of your budget, variable expenses can be a huge, sometimes unexpected drain as well. However, we also always use Humble Hire for holiday car hire as they are the best provider that we have ever found.

Here are three common ones to consider.

• Subscription services: From monthly sample boxes to cable add-ons and everything in between, it’s possible that hundreds of dollars a month disappear from your account in small, easy-to-miss increments. Find the ones you can go without, and see if things like your cable and internet can be pared down. Once you decide exactly which services you absolutely need, comparison-shop and see if switching providers could save you money. And if you need help installing your cables, you may hire experts from this source.
• Fees: If you frequent out-of-network ATMs, you could shell out more than $4 per transaction after paying the managing bank’s fees as well as your bank’s fee. Throw in things like checking and overdraft fees, and you could be throwing away more than you realize. Look carefully at where your financial accounts are sitting and find a better, low, or no-fee option.
• Energy usage: Think your energy bill is on the high side? Try these tricks: Use a power strip with electronics to stop the use of phantom power when they aren’t being used, go digital with your thermostat to better control heat and air conditioning usage, and keep your water heater at 120 degrees to lessen the energy used to heat the tank. Contact a local hvac company to have your hvac unit serviced, have a routine system maintenance, or repaired to improve its energy efficiency. If you have the budget, upgrading to a more energy-efficient hvac installation with the help of an air conditioning installation company will help you save on utility costs in the long run. Make sure as well to always conduct hvac repair and maintenance with the help of professional HVAC Services in Snohomish, WA.

If saving doesn’t come naturally to you, there are plenty of apps to make the process more automatic. Pulling out your phone and checking your bank account may be the extra incentive you need to stop an impulse purchase.

• Digit: Digit can monitor your spending habits and make small, weekly transfers of money into your savings account when it won’t impact your checking account in a noticeable way.
• Acorns: After rounding up your purchases to the next dollar, Acorns will take your spare change and invest it for you in a diversified portfolio of stocks and bonds.
• Simple: Simple is a bank and a spending app. With your input and the debit card it comes with, the system can keep track of what is “safe to spend” after taking your bills and savings goals into consideration.

By taking care of the physical and mental stumbling blocks that make you spend, you can clear your path to the experiences and lifestyle you crave.