9 Extremely Smart Ways To Save More Money

Have you ever tried to save more money but still got completely broke? Even if you think you did it so well. Maybe you even think your house is haunted by greedy gremlins or that your piggy bank has a hole in the back?

The truth is, saving money can be very difficult. Even if you follow smart budgeting tips and use every discount code there, unforeseen expenses can empty your bank faster than it can grow.

But believe it or not, you can save money even if you are really the worst with money. Below, we’ll give you 9 great ideas to save money more effectively.

1. 52 week challenge

This is the most famous personal finance challenge there is.

The idea is simple: every week you need to save a dollar more than the week before. The first week you will save a dollar, next week two dollars, the third week three dollars, etc.

At the end of the 52nd week, you will have saved 1375 dollars!

It might not be the easiest challenge, but it’s quite fun to track the weeks and see how you’ve saved over a thousand dollars by the end of the challenge!

2. Save your modification

Put away your credit card and start using cash. This challenge will change the state of your piggy bank!

Every time you use cash to buy, save the amount between the bill and the next dollar. So when you’ve spent $ 5.20, put $ 0.80 in your piggy bank.

It’s a surprisingly easy way to save money!

If you don’t like using cash, you can download the Acorns app which works on the exact same principle, but everything is automated.

3. The 365 day challenge

This is similar to 52 weeks, but instead of saving money every week, you have to do it every day.

Does that sound scary? Well, you don’t have to save a dollar at a time. Instead, you need to save a dime at a time.

On the first day, you need to save a dime. The second day, two cents. On the third day, three cents. By doing this every day, you’ll have saved over $ 600 by the end of the year!

Again, it might not be the biggest amount, but it’s so ridiculously easy to save a few pennies every day.

4. Shop during the “shopping vacation”

Of course, some purchases cannot be delayed. But some certainly can. Do not spend more than you need and if possible, wait Black friday or Cyber ​​monday. You can find insane deals for these shopping vacations with discounts of even up to 80%.

Or if you feel like splurging a bit on yourself, do it during Black Friday. This way, you won’t hit your piggy bank hard since you can take advantage of one of these great discounts.

5. Register only one specific banknote

Choose the banknote you prefer, whether it’s a Jackson, Lincoln or Washington. Every time you get one, put it in your piggy bank.

This is a great low-maintenance option for those who don’t want to meet certain deadlines or “save schedules”. It’s a little more liberal approach and leaves it to fate, but it always adds up over time.

6. Food budget

Do you seem to eat away most of your money?

If so, this approach could be helpful. Define a specific daily food budget and never go over the limit. For example, you can set a budget of $ 5 each day.

It can be difficult at first, but it challenges you to think outside the box and come up with more budget dinner ideas. And it is definitely doable!

7. Week without expenses

Instead of saving money, you can avoid spending money.

This challenge is simple. You need to agree to a certain amount of time when you won’t spend anything or spend money on going out (or having unforeseen expenses). So, for example, you can buy food and pay your bills, but you can’t go out or make impulse purchases.

It’s a bit of a drastic step but it can get you started control your financial habits a little better.

8. make it a personal challenge

Do you have unhealthy habits that you would like to stop? Do you like to smoke or eat too much chocolate? And do you find out time and time again how you are spending way too much on this habit?

In this case, create a personal challenge. Quit this habit and save money whenever you feel like it. For example, if you quit smoking, save $ 5 each time you want to smoke a cigarette. Instead of smoking, you will “take” that money.

In a way, it’s like your personal “tax” for this habit.

9. Save every extra penny you earn

Do you have a weekend job? Got a little bonus? Did you find money on the street? Make a promise to yourself: Every time you earn extra money, save it.

It might not be the most efficient way to save money, but it definitely helps. After all, every penny counts!

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