5 Ways to save MONEY Right Now!
Do you need some extra money?
Here are 5 ways to have more immediately.
Sometimes people tell me that they don't have money for the Wealthy Affiliate Premium membership and invest in their own learning/business.
Do any of these 5 things and you'll have enough money for the premium membership here :)
Let's start with the easy one!
1. Check All Your Subscriptions
Nowadays there are so many monthly/yearly subscriptions. Some of them are good of course but it's good to check if you need all of them.
For example, Aweber (email autoresponder) subscription is great for me because I know that it makes me much more money than I pay for it. The same with the Wealthy Affiliate membership. Those subscriptions put more money in my pocket than they take.
However, some time ago I canceled my Dropbox subscription and it saves me $12/month. I canceled it probably 7 months ago so that has generated me already $84 in savings.
I'm also using Google Drive so I didn't need Dropbox anymore. All I needed to do was to move my video files from Dropbox to Google Drive and I was ready to cancel.
Here are some other subscriptions you'll want to consider changing/canceling:
- Amazon Prime
- Phone Subscription (is there a better option available than your current one?)
- Internet (is there a better option available than your current one?)
Then you can also go through your bank statement and see where your money is going.
2. Eat Cheaper Food + Don't Eat Junk Food
Here are a few things to get started.
Don't spend money on:
- Sugar Cereals => Oatmeals is a healthier and cheaper option
- Chocolate bars, candies, etc.
I'm not saying that you'll need to cut everything. I'm simply giving you ideas on how you can save money easily and you can pick which options you'll choose for yourself. In any case, many of these things destroy your body so you probably don't want to spend your money and energy acquiring such things.
Here are a couple of good food options:
- Rice, pasta, potatoes, etc. (they're almost free)
Then you can see if something is cheaper because it's on the season.
For example, I remember seeing that tomatoes were 1 euro per kilo during the summer but 5 euros per kilo during the winter in the same store. So, during the summer you'll get them 5 times cheaper.
Needless to say that buying food from the grocery store than eating in restaurants/ordering food with apps is often a more affordable option.
3. Change to a More Affordable Apartment
I'd be careful with this one though because environment affects a lot to your productivity and everything.
You'll want to live in a place where you feel good. However, sometimes the price doesn't go hand in hand with the quality.
In addition, this is one of the places where you may save the biggest amount of money fast.
The benefit of making money online is that you'll be able to choose where you live. Therefore, you may get the same apartment for $500/month that others are paying $1,000/month just because you're living in a more affordable location.
This example would make you immediately an additional $6,000/year tax-free income.
4. Save/Invest Automatically
If you get money each month, make sure that you have set it up in a way that you'll automatically save a portion of that money.
Then you don't need to think about it and you'll be guaranteed to save something.
If you first spend money on everything, you may end up in a situation that you don't have any money left to save.
However, if you save part of the money immediately when you get it, you'll be usually more creative to use the rest of your money in the right way.
5. Buy with a Subscription (If Price is the Same)
Nowadays you can buy, for example, many electronics with a subscription instead of paying it right away.
If a phone costs $540, they may provide you a plan to pay it with $15 automatic monthly payments for 3 years.
Choose the monthly payments and you'll have more money left to spend on other things.
$100 today is more valuable than $100 one year from now.
Of course, if you'll need to pay 10% per year interest on this plan, then it won't make sense. But if you get it for the same price, it's often better to pay with monthly payments.
Should You Try to Save Money? Maybe yes, Maybe not.
Sometimes a better way is to increase income instead of trying to save money.
If you earn, for example, $20/hour in your job, it doesn't make sense to spend 1 hour to save $5 on something.
The time you spend on trying to save money is often away from the time that you can build on working and increasing your income.
However, small changes make a big difference in the long run so it's good to track your spending every now and then.
It depends on each person's specific situation what's the best way to move forward.
- Roope "Make the right choices" Kiuttu
PS. I'd love to hear your thoughts.
What have been some of the ways how YOU have saved money?
What would you recommend for others?
Share with us in the comments below! :)
PPS. If you haven't got the Wealthy Affiliate premium membership yet, you can go premium here.