When you are living from paycheck to paycheck, there are a lot of day to day expenses that you can live without.
You might be looking at your monthly spending and wondering where your money goes or how to save some extra money for emergencies.Almost every one of us like extra money in our pockets.
Almost every one of us like extra money in our pockets.But you probably have a number of monthly expenses that you think you need but are really waste of money.
These are 10 old money saving ideas that worked years ago and still work today so you can not go wrong if you follow them and believe me, they are simple.
Bottled water can be a massive expense. Just think that bottled water can range anywhere from $1 per bottle depending on the brand and where you live.
People have been put off from drinking tap water after hearing scare stories of contaminants in local water supplies.But, you can visit the Environmental Protection Agency’s website for details on what is in your local water.
- What To Do: You can get your tap water filtered and this will cost a lot less over the course of the year than buying bottled water.
Furthermore, there have been some health issues with bottled water over the past few years. The plastic used for bottled water often contains BPA (Bisphenol A).
This has been shown to leach into the water when exposed to heat.
In turn, this then creates ‘faux estrogen’ which has been known to cause ovarian, prostate and breast cancer at high levels.
So one way of cutting down both using plastic water bottles and buying gallons of water is to buy a water filtration system.
Now, this can cost anything from $50 for a filtered water jug through to a couple of hundred for a filter system to install in your plumbing.
However, over the course of a year, this will prove cheaper in the long run – plus you will not be using unhealthy plastic bottles. There are water bottles available on the market for you to fill with your own water which is BPA free.
Have you looked at sell-by dates of food in the fridge and thrown that out?
Food waste is one of the biggest yearly money wasters. Leftovers can make an entire meal for lunch or dinner another night.That leftover pasta, for example, can be fried up or made into different meals.
Not only that but it is amazing how many people throw away food as soon as it reaches the sell-by date and yet the food is still actually in good shape.
Following the 10 Old Money Saving Ideas, find a way to use what you have left before you rush out shopping for new items you don’t really need.
Take-Aways And Fast Food
As with getting coffee from coffee shops because you were in a hurry to have the coffee at home, takeaways and other fast food is also a drain on your resources.
It looks like a small amount that you pay out but if you add it up over the course of the month and then the year you can really see how much you have spent.( I used to spend $22.50 per week just on that take away coffee every morning)
Not only that but buying groceries and making the same food yourself will be cheaper BUT you will also get a more nutritious meal. After all, that burger from a fast food chain – how hungry do you feel an hour after eating it for example?
The idea with takeaways and fast food is to be smart. Almost everyone loves a pizza or curry delivered to the door at some stage but limit the amount that you have and set a monthly budget for takeaway nights 6 nights a month?. That means that you will not then be over-spending over the course of the month.
Yes, it is amazing how much a lottery ticket can add up to your monthly spend. Especially when the chance of winning the big prize is equal to the chance of being struck by lightning.Or as someone once told me, like an airplane falling from the sky and landing on your head.
And with the cost of an entry being at least $3 a line(at my place), it sounds a small amount but it adds up. If you play every week and with a few lines you are soon throwing away $400 or more per year.
It is best to keep lottery playing to a minimum as you are probably never going to recoup the costs that you have spent buying tickets anyway.Check more on your chances of winning the lottery here.
We can be a little bit of a pack-rat and keep old clothes and other items hanging around for quite some time. Do you have stuff that you have not used in a few years but keep them “just in case”.
Truth is that I am probably never going to use those items and I am never going to wear certain clothes again. Once a year try and de-clutter. If you`ve not worn it for a year, it just means you do not need it and it has to go.Let`s be honest, you don`t even remember you have it.
To save money following my 10 Old Money Saving Ideas you can also sell your items on to other people. After all one person’s junk is another person’s treasure. So look to put your household items up for sale on eBay for example and you can get some money and some space back.
Taking Out Extended Warranty on Purchases
How many times have you bought an item and been asked if you want the extended warranty on top? And how many times have you actually bought it and then never needed it?
This money is being thrown down the drain. The item that you are buying will probably have a manufacturers warranty anyhow like this one (usually for a year or more so read the small print).
The extended warranty is then usually a yearly fee to keep covering the item once the manufacturer warranty has run out. But, not everything is always covered with an extended warranty and by the time you have paid a yearly fee (or monthly fee) when something does go wrong then either:
- A) The replacement item is now so cheap that you could take the money that was used to buy the warranty and buy a brand new item. This is the case especially with electronics which get cheaper year on year. Think for example, how expensive your iPhone was 3 years ago and how much it is now worth.
- B) The costs of repairs would have been less than you have already paid out in extended warranty insurance.
ATM and Bank Fees
Check that the ATM that you use is in your banking network and you are not paying extra fees each time you use the ATM.
If you are using an ATM that charges for you to withdraw cash a few times a week then over the course of the year you could be paying out more than a $100 just to access your own money.
Instead look for ATMs in your own banking network or take out larger sums at one time so that you are not constantly visiting the ATM.
Also look at any charges that your bank adds to your account for different things, such as overdrafts, cashing checks etc. If your bank has excessive charges then look at changing banks. After all, this is your money, not your banks’. Also, check the fees on your credit cards – you may be able to get better deals by shopping around.
After all, this is your money, not your banks’. Also, check the fees on your credit cards – you may be able to get better deals by shopping around.I could not leave this out of 10 Old Money Saving Ideas as many of us do ignore this thinking it`s just not worth it.
Grocery Shopping When Hungry
Going grocery shopping when I am hungry means that I end up buying way more groceries than I need to.You might also have done the same thing but never really noticed.
If you shop when hungry you are going to fill up your cart with more items than you need. Also if you grocery shop when you are not in a hurry and just browsing then you will also buy more groceries than you actually wanted.If you are willing to follow these 10 Old Money Saving Ideas don`t shop when hungry.
When you have more time on your hands and go grocery shopping, you find that you spend extra time in the wine or chocolate aisle than you usually do.
And that extra bottle of wine will happen to find its way into your cart (or two bottles). So make a list before grocery shopping and stick to it and don’t go browsing.
Getting Coffee from Coffee Shops
Taking it at just two cups a day – at $3 each, calculate how much you`re spending in a month. Tell you what, you really don`t need or want that coffee.
When I got started online, I said to myself I will use the money I was spending on coffee to pay for my online tuition, just a few months later, I realized I did not need or miss the coffee. I still enjoy spending time with a wonderful and supportive community here and I learn new things every day.You too Can join create a website and share your tips with your readers, it`s free to join.ClICK HERE tO JOIN
Conclusion On 10 Old Money Saving Ideas
There is no science behind it, we can all save money and not miss out on things we need, make a plan of “must haves and can wait” and stick to that plan, these 10 old money saving ideas work well and you`ll not miss out if you plan and shop sensibly.
This is definitely a very expensive habit and one way of seeing your money go up in smoke. And it is also very bad for your health with links to cancer, emphysema and general ill health. Again, a packet of cigarettes is expensive(a pack here cost $10 and I smoke a pack every single day)so you calculate) so sit down and work out how many packets a day you actually smoke.
If you are serious to follow the top 10 Old money saving ideas we talked about at the beginning of this post, it`s time to quit.
Work it out for the week and finally the year. I bet that once you see the yearly amount you will be very surprised at how much money you are actually wasting instead of using the 10 old money saving ideas we talked about.
There are also other considerations around smoking cigarettes. You may have increased health insurance premiums if you smoke and you will probably get health issues that are related to smoking. These will all add to the financial costs of smoking.
Look at how much you spend and how much extra your health insurance costs and then see if you can cut back or even cut out smoking altogether. You will probably feel fitter and healthier if you do and your wallet will also feel a lot healthier.
I hope you found value reading this post and will go out and try this very easy money saving tips.If you have any questions, leave me a message below.If you found this post useful and know someone who can benefit from it, please do share with them on your favorite social media.