The New Year is always a time for reflection and goal setting. One of the most popular New Year’s Resolutions is to save more money.
Millions of people pledge at the start of every year that they will make it a goal to save more money. As with most New Year’s resolutions, we start out going strong only to fizzle out and fall fast.
The same goes forsaving money. We start out saving a percentage or portion of our income every week, but by March we’ve skipped several weeks of savings and sometimes many of us have tapped into our savings by the Summer.
If this sounds like you, we’ve come up with a list of 20 tips that will help you save more money in 2018.
20 Tips for Saving More Money in 2018
Carpool – If you must drive to work, try to carpool. Apps, such as Waze make finding a carpool to join easy. If you must, create one with a group of coworkers who are also looking to save a little money.
Purchase a fuel-efficient vehicle – Need to purchase a new car? Instead of buying a caz guzzling SUV, purchase a more fuel-efficient model or even a hybrid. You’ll save a ton on gas.
Coupon – Those women you see in the grocery store with binders full of coupons aren’t crazy. They’re smart and taking advantage of an opportunity to save big on groceries and household items.
Subscribe to the newspaper – The newspaper may sound like another useless subscription, but it’s a great resource for finding deals on major purchases and even free events happening in your community. If you coupon, the Sunday edition of the newspaper is usually filled with them.
Take a sack lunch – You may be reminded of your childhood days, but taking a sack lunch to work is a great way to save money. If you’re smart about it, you can save money and shed a few pounds.
Avoid restaurants – Looking to save money? Well, you should avoid restaurants like the plague. Frequently eating at restaurants can get expensive. Instead, cook your meals at home and eat leftovers for lunch.
Cancel unused memberships – The costs of all those memberships can add up quickly. Canceling any magazine subscriptions, beauty box services, or club memberships that you no longer use is a fast way to save some cash.
Shop the Dollar Store – Shopping at your local dollar store can save you a little money on household expenses. Most dollar stores carry cleaning supplies, hygiene products, and even groceries and pet food for around $1.
Buy in Bulk – Big big stores like Sam’s Club and Costco’s are popular because many people appreciate the savings that comes with buying in bulk. Save on commonly purchased household products like toilet paper, paper towels, and condiments by buying them in bulk.
Shop online – Online shopping means you can shop from any place, at any time, as long as there’s an internet connection. But shopping online comes with another bonus that could end up saving you tons of money over time. Shopping online allows you to compare prices before you buy, ensuring that you always get the best price.
Negotiate better deals – Contact your utility providers and insurance agents to try and negotiate a better deal on your services and policies.
Eat less meat – Eating meat is expensive, especially if you’re a sucker for a good steak or lobster. Incorporating more fruits and vegetables into your diet isn’t just good for your health, it can help you hold on to a few extra bucks every month.
Work out at home – The cost of a gym membership can run hundreds of dollars a year, even a month at some luxury establishments. If you rarely make it to the gym, canceling your membership and working out at home is a quick way to save some cash.
Don’t be picky – Are you a picky eater? Just have to have a certain brand of bath soap or paper towel? Well, if your goal is to save money you can’t be too picky. Instead of shopping in your comfort zone, try cheaper alternatives to your favorites.
Purchase generic brands – Whenever possible purchase generic brands on your prescription and over-the-counter medications. Many store brands contain the exact same ingredients as the name brand. Why pay an extra $5 for cough syrup if you don’t have to?
Host events at home – Hosting events at home can save you hundreds, especially if you have an active social life. Frequently going out to nightclubs, restaurants, and sporting events can break the bank.
Turn off the lights – Being mindful of how you use electricity can actually save you money. Just think about how often you leave on lights in your home or sleep with the TV on. Switching off the lights and turning of TV sets when not in use adds up to great savings.
Declutter your home – Decluttering your home, garage, and closets can put some money back in your closet. Yard sales are popular because we just can’t get enough of buying each other’s junk.
Switch light bulbs – What type of light bulbs do you use in your home? If you’re not using CFL or LED lighting, then you’re missing out on a chance to save hundreds on your energy bill each year.
Create a savings goal – What or why are you saving up money? Perhaps you’re saving up for retirement or your kid’s college fund. Whatever the case, having a set number can help you achieve your financial goals.