How do I save money on subscriptions?
View your bank statement and go through line by line. Identify all of your subscriptions and how much they cost. Cancel the ones that you no longer use or feel are too expensive. Downgrading subscription can save a handful of money.
Research when the sales start
Find out when to get the best deals. Need a TV? Wait until January, when last year’s models are discounted to make room for the new ones. Looking for Christmas gifts? Wait until Black Friday.
Get stuff for free
There are plenty of ways to get stuff for free or have fun on the cheap. “One man’s rubbish is another man’s treasure”
- Use Facebook, preloved and ebay. Before you shell out for things like furniture or baby gear, check out Facebook marketplace to see if someone local is looking to get rid of something similar.
- Downloading App’s for free food. Plenty of restaurant chains offer freebies or BOGOF deals for downloading their apps. You can always delete them after.
- Happy Birthday! You can score birthday freebies if your big day is coming up.
- Check out your local library or second hand shops. Why buy new when you are only going to read the book once?
- Trade/Borrow goods or services with friends Learning how to barter can help you get what you need without spending cash.
Cut-up your credit card
The average APR for people who carry credit card debt is well over 15%. Your bank jumps for joy when you don’t pay off your balance because it’s getting rich of all that interest.
Save money, stop eating out all the time
Don’t shop when hungry! A great way to combat cash-snatching tactics is to make a shopping list and devote a few hours to meal prep every week. Start making your own breakfast and lunch each day, plus dinner a few nights a week.
Be skeptical when something seems like a deal
Free shipping if you spend just another $11? Step away from the digital shopping cart. If you’re being coaxed into shelling out more cash for something that’s “free”… well, it really isn’t free.
Playing the credit card rewards game is another good example. Yes, you can score free airfare and cash back. But it’s only free if you don’t spend more to get those rewards, and if you pay your balance in full every month. Otherwise, you’ll shell out way more in interest than you’re getting in rewards.
Cancel subscriptions for non-necessities
Save cash on things like subscriptions. Monthly subscriptions and memberships can drain bank accounts each month, sometimes they are rarely, if ever, used. One of the best ways to save money is to look carefully at gym memberships, streaming services, subscription boxes and anything else that you automatically pay for. If you haven’t used it in the past month, it probably belongs on the chopping block. Also be on the lookout for any free trials you forgot to cancel.
Saving money helps become more financially stable. Study your bank statements! Working extra in evenings and weekends, can also increase the saving pot, Maybe take up a side hustle.