Previously on Hustle Domain, we spoke about the FIRE movement and discussed the merits of saving now. In today’s post, we are looking to share tiny tips that lead to saving big. Although we don’t want you to go overboard with frugal living but we also believe that a penny pinched is a penny saved. It’s all about finding a balance and what works for you. Today’s post is like a rapid fire round and consists of numerous quick tips on saving money. So lets get into it.
Rakuten: Cashback on Online Shopping
If you frequently shop online and haven’t heard of Rakuten then you will want to check this out. Simply sign up with the service, log into your account and shop as usual from your favorite stores. Receive cashback. It’s that simple.
Dosh: Cashback on Retail Shopping
Similar to Rakuten, Dosh is another service that provides cashback. The only difference being, you connect your debit card to it and earn cashback on all purchases using the card. Check out their website for details.
Cashback on Credit Cards
Cashback seems to be a recurring theme but these are low hanging fruits. Although we don’t recommend going out of your way to sign up for credit cards, but credit cards aren’t always bad. If you’re going to sign up for one anyway, research those that earn you the best cash back rewards.
Plan Your Groceries
Plan your groceries before heading out and then stick to the plan. This seemingly simple trick will help you save tons by motivating you to buy only what you need. Take an inventory of the things you need before heading out. Make a list of items you’re running low on and only then head out for shopping.
Don’t Go Grocery Shopping Hungry
It’s a small psychological trick but it can help you save. The premise is simple. If you go to a grocery store on an empty stomach, your mind tells you to purchase everything in sight to stuff yourself with later. Or you’re forced to eat out.
Download the App
Most stores have their apps where they often offer exclusive discount offers and coupon. Once you have made a shopping list, survey these so you can take advantage of them. Be careful though, don’t get lured into buying stuff that you don’t need just because you see a discount offer. Stick to your list.
Bulk Buying
Places like BJ’s and Costco can help you make bulk purchases which in the long run help you save money. This option is usually good for larger families. Make sure that the cost of membership can be offset by the savings in groceries.
Cut Down on Eating Out
It’s a well known fact that dining in is much cheaper than eating out. It’s healthier as well. Best thing would be to avoid eating out altogether. The next best would be to check out deals offered by places like Chipotle or Dominos etc where you can accumulate rewards overtime for free meals. You can also save big using Groupon.
Avoid Brand Names
Apply this to your clothes, groceries and over the counter medications (do talk to a pharmacist however to make sure you’re getting the correct meds). You can save a ton of money each year by making this change.
Replace Soda with Water
Buy a reusable water bottle and than use it. Replace your soda intake with water and save cash! You’ll also feel healthy by making the switch.
Buy What’s In Season
When you do your groceries, try to buy items that are in season. Not only is it healthy, but it’s cheaper to do so. If you must buy things that aren’t in season, look for them in the frozen isle instead of the produce.
Try Couponing
This one is for obvious reasons. Apps and sites like like Coupon Surfer, Coupons.com and Group On can help with this.
Start a Budget
Two thirds of American households do not have a budget. Having a budget helps you plan where your money is going. When you know that, you are able to identify the areas where you need to cut back and where you can save. If you don’t have a budget, start one now!
Pay Down Debt
The sooner you can get out of debt, the more you can put towards saving. By paying off debt, you can start using the funds that you free up for bigger and more important things in your life. You can learn how to pay debt fast here.
Cancel Cable
First and foremost, you really don’t need mindless entertainment all the time. Spend the time in nature or with loved ones instead. If you still crave the need for media then check out YouTube. You can seriously find a lot of good material, movies, documentaries, entertainment and other stuff on there for free. If you still aren’t content, try Netflix or Hulu which are much cheaper alternatives.