You can greatly increase your savings potential when you cut down on unneeded spending. By figuring out which of your habits are actually worth the price and which aren’t, you can start putting more money towards the things that matter most to you. If you’re trying to save a little more, here are some ideas for ways you can cut down on unneeded spending. Choose the options that work best in your life, and free up some extra cash to put towards your savings goals this year.
Start meal prepping
We’re sure you’ve heard the benefits of meal planning before, but it really can save you money on eating out or spending too much on groceries throughout the week. Think of it this way: you could buy one burrito for $7, or for a little more money, you could buy the ingredients to make enough burritos for a week’s worth of lunch—and you can use some of those ingredients in other meals for the week. By doing your grocery shopping with a specific plan in mind, you’ll cut out impulse buys and food waste, not to mention those late-night delivery orders. Put more money in your pocket by trying out a week of meal prepping!
Cut the cord
Did you know that the average cable bill, not including internet, adds up to about $80 per month? Consider cutting the cord and watching your favorite TV shows through online services instead. Even picking a couple streaming services would cost you less than an average month’s cable bill!
Become your own barista
Make your own coffee at home and save big on your morning java runs. Investing in a coffee or espresso maker now will save you in the long run. A French press is another great low-cost option for making coffee at home. You can even buy your favorite coffee syrup flavorings online or at your favorite grocery store to make your at-home beverages taste like the real deal.
Enjoy the great outdoors
With the weather heating up in the months to come, now is the perfect time to consider putting your gym membership on hold and exercising in the great outdoors! Whether you love to run, bike or do yoga, you can enjoy it all for free with an extra boost of vitamin D. Just remember to check if you’ll need to pay a large start-up fee if you decide to resume your membership when it gets cold again.
Reduce your data
If you’re underutilizing your cellphone plan’s data package, you may be able to find a better, low-cost plan that still works for your average usage. Though an unlimited data plan may sound tempting, wifi is practically everywhere now, so you may not need to use nearly as much data as you think you do. Cutting down on your monthly data cost may be just what you need to increase your monthly savings.
These ideas are a great place to start when evaluating how to spend your money. Make sure to check out our other advice on how to (actually) save!
What will you do with your extra cash? Check out our high-yield TruStone Financial Savings Accounts and put your new-found savings to work for you!
Editors’ Notes: Sections of this article were sourced from NerdWallet and US News.