Saving money has always been challenging! And if there is no direct imperative associated with the purpose, then it’s not just challenging but toughest! No…I’m not delineating the inference rather human behavioural approach over time reveals so! However, if a ‘problem’ is left as ‘problem’ without pinching a solution, then there is no point wasting time on the topic. Fortunately, we can’t afford the loss and that’s why, will reveal a few smart-quirky money saving solutions beneath a confined finance.
Drowning under an impecunious budget is not uncommon to most of us for being middle class which shrinks eventually more as month ends approaches and often gets more complicated after a big shopping! Now, twirling the mind a little you can easily moor to witty solutions against the problem. For instance, you can save a lump sum amount while shopping from giant stores like Walmart, Best Buy, Costco which impeccably produces jaw dropping discounts to both daily necessities and large appliances. You can also take advantages from several coupon websites which also have the same purpose. And out of all, you’ve to be prudent on personal income and expenditure ratio if you are keen to float on even in the tough times. Therefore, let’s walk through the possibilities that can save your budget significantly and appease you to release a sigh of relief!
Tips To Save Money On A Tight Budget
Here are a few tips from hacks on savings to skillful shopping are presented below to guide you in the best possible ways.
- Scheme and plan based on individual affordability
Scheming monthly finance and planning expenditure is the first and foremost step you have to ensure. Then plan the budget according to affordability. Won’t get a clear idea, right? My concern of content is to alert you of taking wise steps. That is, if your monthly income is $1000, your estimated budget expense should be within, say $400 or so and rest you can save or invest in several segments.
Another way of saving, could be being wise on urgent needs. For example, if you need a new computer or a television then you must not expand the cost through adding extra stuff like a bluetooth speaker that ultimately affects monthly budget. There are several online sites like Best Buy, Amazon popular electronics gadget sale. You can also peep in there to get extra savings.
2.Divert attention from redundant expenses
Right after entering inside a shopping site or an outlet, we become careless with our budget, most of the time. You have to stop this habit, at the very first, if willing to save more. Because, adding one product with another would do nothing but pushing the budget into an abysmal death. Therefore, if you need a pair of trousers don’t add a piece of shirt. Or if your requirement is for staples don’t add dairy items or something is additional at that moment. The statistics report of Feb 2021 indicates an overall 13.6% savings of citizens, sharply falled from January which was 19.8%. Hence, be scrupulous to segregate what you need and what don’t.
- Start saving with smaller amount and prefer cash payment at times
When you are phasing through a tight budget condition instead of being saddened you can use a smart hack. That’s saving the bitsy penny after shopping which gets summoned up to a considerable amount after a certain interval. Hence, from the next time after the shopping , instead of wasting the small pennies you get, save these.
Another smart way is to make payment via cash instead of card or UPI to confine expenditure and regular tracking on the same. If you can maintain this habit especially for an in-store purchase it will immensely help you in the long run.
- Shop Online and win additional rewards
You must be aware of this fact that online shopping platforms are famous for rip roaring discounts that keep coming up. For example: at this moment if you peep inside Walmart grocery store, you can claim a flat 20% off on all big deals. Similarly, you can get a rebate of $20 on any category at Instacart. Moreover, you can also redeem additional offers as a new member. For example, Kohl’s welcomes you with a 15% cashback with a sign up deal which is analogous to Walmart, Adidas and so many other platforms. Additionally there are exclusive deals. For example, you will get 10% cash return at Instacart through placing first order via it’s app. In this way, there are myriad ways of savings if you are curious enough to explore these.
- Research, compare and wait a little before shopping
It’s better wise to wait a little and carry out a generic comparison before stepping out for shopping. How? You must be keen to know! Well, let’s assume you need a washing machine for the house and you have been aware of a clearance sale from Target which would be alive after one week. Shouldn’t you wait for a few more days before jumping inside a store and waste the limited cash? What is your opinion?
In the same way, you have observed that products on online stores are of better performance but of cheaper prices than in-stores! Would you still be adamant on in-store purchase in this case? Decide yourself! By the way, the situation can turn around as well. So, be updated and wise a little before you finally buy a thing. Afterall, you will only be burdened with wrong decision
- Shop in bundle or bulk to avoid extra wastage
How to take advantage of this? This is your question, right? Let’s say you need one packet of brown rice which costs $10 but after being accompanied with an extra packet the price becomes $14.29. Or one packet of baby food of $40 gets deprecated with 2 packets in $55. Albeit, you have to spend a few bucks extra instantly but don’t you consider it more profitable in terms of quantity and price in whole?
- Wait for specific, weekly or seasonal sales to launch up
Do you urgently need a laptop or pair of new shoes but procrastinating for meager budget? Or do you just need to repaint and refurbish your living room in persequitive way? Well, for both, demand is genuine but finding a solution to meet these could be cumbersome. Here is an idea, keep scrolling through your mobile or tablet for being updated on specific sales or seasonal sales endowed by online shopping stores. For example, You can go explore a plethora of exciting deals such as an extra 15% off Dell student deal or Kohl’s 15% off employee deal or Doordash 25% off for students on first order deal etc. and then do pick any of these.
Besides, several outlets open special sales either at a particular time of a day or a week on various products; like grocery, electronics, clothing etc. For example, Tuesday clothing sale at 8Pm or Sunday sale on meat and seafood at 9Am etc. Hence, being watchful to all similar deals will help you save sufficiently even in confined monetary conditions.
- Membership plan and loyalty program to boost your savings
Albeit, it may seem quite far fetched and foolhardy idea but trust me; it’s not albeit feel a bit more expensive for a certain period. Therefore, if you purchase a membership plan from an online or in-store outlet for a long tenure, it will curtail redundant expenses vividly. Here is an example, let’s assume being a foodie it’s truly tough compromising with monthly frugality but you have no option except doing so! Well, to combat the problem, alluring membership plans from several food stations like Doordash, Grubhub at $12.99 will help you to indulge palatable dishes along with exclusive benefits. Similarly, for grocery and household needs plenty of podiums like Hobby Lobby, Best Buy exciting offers along with free shipping facility! Which additionally saves your fuel cost. Impressive plan, isn’t so?
- Make payment via gift cards and reward cards to be blessed more
These days most of the shopping platforms bestow an additional feature that is specified gift cards or reward point cards, starting as low as $5 or so. These cards can not only be used during payment but you will also get additional offers duly or after it. Therefore, use gift cards, reward cards such as Walmart reward point card, Best Buy gift card, gift cards of clothing sites such as H&M, Macy’s etc. in the next purchase.
- Be adhesive to self decision all the time
Whatever your neighbour says or how lurking the yearly sale is, the first and last oath of saving money solely relies upon your decision. Therefore, it’s always better to dig out own potency instead of being carried away with mass. If you can afford a shirt of $20 don’t make it $50, that’s what the wise decision is. And start saving with small amount even it’s very much countable. Because, you must know that $1000 gets its shape from 1 penny. So, don’t ignore your financial status and be honest to it.
Hitherto, I hope these simple 10 steps will work for you, if being followed holistically. Therefore, don’t get upset, while you have enough reason to save yourself from a mired situation. Remember, a billionaire too starts from 1 penny. So, be hopeful and little calculative on the entire planning of the budget.