7 Hacks to save money

7 Hacks to save money on a low budget

Lower your housing cost

The first of the Life Hacks to save money is selling your house. Selling your house and moving is a great way to reduce the housing cost that you are currently paying out each month. However, this process may not be simple. There are some steps that you need to take in order for the process to be successful.

These Hacks to save money will help your bank account and is almost like getting free money at the end of the month.

Lower your transportation cost

Sell your car and buy an older model car in order to save money. New cars are generally more expensive than older models. This may be causing a money pit in your wallet. If you want to reduce your transportation cost, you will need to purchase a used car.


Lower your food costs

You can lower your food costs by buying from the grocery store and cooking at home. Eliminating the need to go out to eat is sometimes a sacrifice. But with planning your meals and buying the ingredients, it is healthier than going out to eat every week.


Not to mention the tole it is taking on your health. When you cook at home, you know exactly what’s in your food and you don’t even need to leave a tip. The best way to eat at home is to use a grocery list. Also buying in bulk is also a good option. Just make sure to look at the expiration dates.

Lower your education costs

Believe it or not you can learn a lot from you tube. You might not become a doctor or brain surgeon, but there are skills you can learn online that could generate more income than a doctor. There are skills they don’t teach at a University.


Lower your entertainment costs

You seriously need to “Cut those tv cords” that means that you need to unsub from the dozen and a half streaming services like Netflix. Find one and stick with it, or eliminate them all and get all your viewing pleasure from YouTube.

And you need to seriously look at how much you are spending on video games in the first place. There are free video games out there and you can easily get your Game on with those.


Zero sum budgeting

When budgeting your income and expenses that you just got done lowering you need to figure out something. You need to do what is called “Zero Sum” budgeting meaning, allocate every dime. Know where every penny is going. Obviously pay your investments first, but then the excess money goes into investing also.


Create a monthly budget

Just by creating a monthly budget you will be on the right track. You can allocate money to your savings, debt reduction, utility bills and other monthly bills. It’s easy to let expenses creep up month after month without realizing it until it is too late.

Hacks to save money: Pay debt FIRST

Debt elimination is the key to financial freedom. There are many different ways to eliminate your debt, but the most important thing is make sure you start with the biggest debts first and work your way down.

Start by attacking high interest credit card debt then move on to car loans, student loans and any other type of loan that carries a high interest rate.


Start an emergency fund

This is money that you have set aside to cover your unexpected expenses. This can be anything from a few thousand dollars to several million dollars depending on your financial goals. Make sure you are tracking where all of your income and spending goes.   Tracking will give you an idea as to where you can cut back in order to grow your emergency fund.

Have a no-spend day

Once or twice a month set aside money in your wallet that you don’t spend. This way you can start to build up savings and learn how to live within your means. You do this by setting spending limits. Once you have tracked all of your spending for the past month, it is time to set financial goals for yourself.   Think about what kind of life would be best for you.

Get a side hustle

If you can’t save money on your own, you can always look into getting a side hustle. This is when you start working on something else in addition to your day job that will bring in extra money. A few great ideas include dabbling in blogging, tutoring, a podcast, selling on amazon, dog walking and more.

side hustle

Get money back every time you spend

One of the ways to save money is by getting money back every time you spend.   This way you are constantly reminded of how much money you are spending and can start to curb your spending habits. There are apps that can do this for you.

Make a meal plan

One of the ways to save money is by making a meal prep plan.   This meal prep will help you determine how much food you need each day, what type of food costs the most and where you can find cheaper groceries.


Workout from home and skip the Gym

If you don’t have the time to go to the gym or work out at a gym, you can always try working out from home.   This way you can save money by not having to pay for membership fees and also avoid traffic


Drink more water

One of the ways to save money is by drinking more tap water or bottled water.  This way you will be less likely to spend money on drinks that cost extra and you’ll also stay hydrated while drinking ice cold water.


Save by Using a Clothesline

Another way to save money is by using a clothesline.   This way you can wash your clothes without spending money on dryer sheets and also avoid the waste that comes from throwing them away.


Clear That Dryer Vent

One of the ways to save money is by clearing that dryer vent.  This way you will be avoiding the cost of coming home to a cluttered laundry room and also avoid wasting energy on clothes that have been dried on the clothesline.


YouTube it and fix it yourself

Another great way to save money is by fixing things yourself.   This way you can avoid the cost of hiring a professional and also save on the costs of replacement parts. You can learn how to do this by watching videos on You Tube.

Declutter by selling your junk for cash

If you have a lot of junk that you don’t use, you can sell it for cash.   This way you will be getting money for things that would otherwise be just taking up space in your home.


Switch to LED bulbs

One of the ways to save money is by switching to LED bulbs.   This way you will be paying a fraction of the cost of traditional (energy loss) lightbulbs and also saving on your electric bill and energy costs.

Keep your savings account separate so you aren’t tempted to touch it.

One of the ways to save money is by keeping your savings account separate from your spending account.   This way you will be less likely to spend money on unnecessary items and you’ll also have a place where you can store extra money in case of an emergency.

Stay out of the stores that tempt you.

One of the ways to save money is by staying out of the stores that tempt you.   This way you will be avoiding the temptation to buy unnecessary items and also avoid spending money on things that you don’t need. This includes online shopping sites that you don’t need to be looking at.

Set savings challenges for yourself.

Another great way to save money is by setting savings challenges for yourself.   This way you will be motivating yourself to stick to your budget and also avoid the temptation of going ahead and spending money that is not part of your challenge.

Eliminate any unused Subscriptions

One way to save money is by eliminating any unused subscriptions.   This way you will be avoiding the costs of subscription services that you may not use and also reducing your overall monthly spending.

Find Energy sucking appliances

Another easy Hacks to save money is by finding energy sucking appliances that you can replace.   This way you will be reducing the cost of your electricity bill and also increasing efficiency.


Grab a coupon

One of the best Hacks to save money is by grabbing a coupon.   This way you will be reducing your overall cost of goods and also increasing your savings.

Fill up your Freezer

Another way to save money is by filling up your fridge and freezer.   This way you will be reducing the energy cost that it takes to keep food frozen. Try using bags of veggies that take up most of the space. Using actual leftovers will help reduce food waste


Send Gift cards for holidays

This will allow your to budget your money even further.   Gift cards can be used at any store or internet purchases, which means you can buy them as holiday gifts for family and save a mint. Just be sure they can afford that slow cooker they have their eye on.

Hacks to save money: Shop Amazon

Books, Products, and even Food can be found on Amazon.com in many cases at a lower price than what is available in stores.   Many times, the savings are substantial enough to justify purchasing products through Amazon rather than directly from merchants.


Invest in a smart thermostat

Heating and Cooling your house can account for a significant amount of your energy bill.   By investing in a thermostat you can spend less on your energy bill by controlling the temperature in your house from your phone or computer.


Do push ups

Instead of a gym membership or expensive workout equipment, pushups can be a great way to spend less money.   They are easy to do and require no special equipment or facilities- just you, your body and some room! There are plenty of apps that will help you with your exercise routine if you need it.

Know your options

There is a lot of money that you can save by knowing your options.   This way you will be able to get a great deal on products and services. Compare rates on everything. One of the best ways to save money is by comparing rates.   This way you will be able to find the best options for everything including debit cards and credit cards that meets your needs. Your credit score will thank you in the long run.

Create a designated savings account

One of the ways to save money is by creating a designated savings account.   This way you will be able to store extra money away for future expenses. Compare savings accounts from the start because there are so many options out there.

Attend Free Concerts

Every year (this year and last year) there are concerts happening all over the place that you can go to for free.   This way not only will you be able to enjoy a great show, but also save money by not having to pay any entrance fees.


Buy Generic

When you are buying products in the store, try to buy generic versions of those products.   Store-brand products are usually cheaper than the name brand and they work just as well. Some of the best generic products are just as effective as the name brand products, and they wont hurt your bank balance.

The 30-Day rule

Another way to save money is by following the 30-day rule. The rule is that if you don’t think you will use something in your daily life (such as a printer) within the first 30 days, you should not buy it. This goes along with the idea that if you don’t need it, you wont use it and its not worth your time or money to purchase it.

Live like you are Poor

One way to save money is by matching your spending with your income.   This way you will be able to track where the extra money is going each month and make adjustments as needed. Another way to do this is by living like you are poor. This means that you will have to make some tough choices in order to save money, but over time it will add up. So go out there and start living like you need to.

Hacks to save money

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