On the other hand, the virus has temporarily (or permanently) shut down many businesses and impacted the astronomical job loss we are seeing within the country. This has directly caused everyone to take a step back and pay closer attention to their finances.
With so many things out of our control, it is imperative we optimize our spending where we can. Listed out below are just some of the hacks you can implement within your day to day in order to really see a difference in your spending. Challenge yourself to implement at least one this week!
Research Auto Insurance for Low-Mileage Drivers
With many states beginning to lax their guidelines, you may find yourself in the camp of workers commuting into office, or even wanting to drive to meet up with loved ones again.
Even though that may be the case, our vehicles are sitting in our driveway now more than ever. With that being the case, there may be savings that you are missing out on from your auto insurance policy.
There are policies where you actually pay less, the less you drive. From a purely statistical standpoint it makes a lot of sense; the less you are on the road, the less opportunity for you to be at risk of an accident.
Depending on your current policy, the switch from a flat rate to a low-mileage driver plan can save you hundreds of dollars annually, creating a bit more wiggle room in your weekly budget.
There may be no better time than now to make the switch, especially if you are currently a fully remote employee.
Buy Only Your Necessary Groceries
When you’re at the grocery store, it can be all too easy to purchase items that you didn’t necessarily put on your list. Even if they’re on sale, it is not a necessary purchase.
As you browse the store, you may find yourself continuing to add those tempting items you normally would pass over. This is a purposeful marketing tactic. Numerous stores will use all sorts of tactics intended to get you to spend more while in person.
Certain chains, such as Target, will curate their layout in such a way to get you to peruse every single section of the store drawing your attention to things you never even intended to look at, let alone buy.
Many retailers will also use other tricks like strategically stocking the end caps of certain aisles and obnoxiously large sale signs on items.
In order to avoid being tricked by these strategies, try using an online delivery service. Not only will you save money on gas, you will stick solely to purchasing the items you need, rather than spending excess on unnecessary purchases. Stock your pantry while ensuring your budget is maintained!
Find Cheaper Gas
While running your errands, you may find that pesky gas light glowing. Naturally, you pull into the nearest gas station to fill up, or even just choose the one on the way to your next destination.
However, this could be costing you quite a pretty penny. Instead, do a little bit more research to find the best gas prices in your area.
This could take just a quick google search or using an app such as Gas Buddy to find the best prices. Obviously you don’t want to drive more than a few miles out of your way, but just those few minutes can make a world of difference.
Additionally, looking into different gas station rewards programs or gas cards can save you upwards of ten cents per gallon at certain locations. Plus these programs normally don’t cost anything more than your name and email address to sign up.
Important note: If you find that your tank is running extremely low, be sure to not let it get too empty too often as letting it get too low can cause drastic damage to the tank overtime which could lead to costly repairs.
Use Budgeting Apps
Most people nowadays are pretty good at keeping track of their finances, but when you’re out and about, running all sorts of errands it may be easy to spend outside your means. With the rise in modern technologies, keeping track of your finances has become as easy as a click of a button.
Using a budgeting app on your phone will allow you to keep track of your spending and alert you the moment you go over budget or even when you’re close to going over. If you find yourself really struggling with overspending, in conjunction with the app, there are options to put a limit on your debit card or credit card of choice.
Reduce Spending On a Gym Membership
Now you may be one of those people who can’t find the motivation to work out without having access to a gym facility. Luckily, there are plenty of deals that work out facilities offer.
Military, student, as well as senior discounts are great places to start. While this may not be something they actively promote, if asked they will offer in order to remain competitive
Pro tip: many restaurants and shops will offer these sort of discounts as well.
If you are not able to fit the gym into your budget, but still have the determination to stay active, there are countless YouTube videos that offer a variety of at home workouts.
It can be hard to save money when you don’t have the full picture on where it is going. The tiniest things can add up over time and make a big difference.
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While it may be convenient to take shortcuts and not think about your spending habits, making these small changes that take virtually no time at all can save you hundreds of dollars each year.
Image Credit: save money weekly by envato.com
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