Has your spending slowly become excessive? Indulgences such as food delivery apps and nights out with friends are fun but they can really dip into your bank account. Cutting back on expenses and saving money doesn’t mean living a boring life with no fun at all. With a few specific lifestyle tweaks, you can add to your savings account while still enjoying a nice quality of life and not sacrificing fun. Here’s what the experts advise.
Related: 7 Ways to Save Money and Grow Wealth Now That Inflation Is Below 3% for the First Time Since 2021.
1. Pay Less For Streaming Entertainment
ShutterstockHow much are you paying for your streaming services? “One easy strategy is to call or email all the companies you have subscriptions to,” Bob Chitrathorn, from Wealth Planning By Bob Chitrathorn of Simplified Wealth Management, tells Kiplinger. “Tell them you are planning on canceling due to cost and ask if they can apply a discount. This is extremely effective if they just increased the cost as well. I just emailed one of my services last month, and they lowered the cost by $5 a month for the next year. This method saves money!”
2. Nature Is Free!
ShutterstockWhy not go hiking for fun, or have a picnic with friends or family? “Once we discovered a nature reserve hidden behind some farmland, with a trail through the woods and a rope swing for the kids at the end,” Emma Healey, founder of a money-saving blog for moms, told Discover. “There was no one else there, so we enjoyed the forest all by ourselves and the kids thought it was the best thing ever.”
3. Don’t Pay Full Price
iStockUse rewards and discounts to save money while still enjoying purchases. “I believe in never having to spend more than I have to on any purchase. That means using discount shopping portals, like Rakuten, and other cashback apps,” Jason Vitug of Phroogal tells Kiplinger. “I stack savings by paying with a rewards credit card. I've saved thousands of dollars by not paying retail or the sale price. All the savings have gone toward goals. This works because the idea isn't to stop spending but to instead start saving.”
4. Use Your Local Library
ShutterstockIf you’re not making use of your local library, you could be spending a huge amount of money unnecessarily. Not only can you check out physical books from the library, but also movies, music, and ebooks—all for free.
RELATED: 13 Ways to Maximize Savings at Stores.
5. Utilize Your Credit Card
Kite_rin/ShutterstockUse your credit card responsibly to save money. “Opt for a cashback credit card for daily expenses and to autopay essentials,” Amrita Choudhary of Wasabi Technologies tells Kiplinger. “Paying bills, groceries or fuel with it accrues cash without you altering your spending habits. Regular, mindful use, combined with full monthly payments to avoid interest, turns ordinary purchases into savings opportunities and leverages everyday spending for passive savings without the need for lifestyle changes.”
6. Dig Into Your Closet
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Take a moment before spending money on new clothes.“It’s tempting to run to the store when we need something,” Jamie Novak, professional organizer and author of Keep This Toss That, tells NBC. “Instead, shop at home. There’s a really good chance you already own what you need.”
7. Set a Budget and Pay Yourself
Shutterstock“If you've already spent the money by paying yourself first, you won't have to make a choice or change any aspects of your lifestyle. You will have what you have, and you will spend what you have,” Deborah W. Ellis of Ellis Wealth Planning tells Kiplinger.
