How to save money on everyday spending

    Actionable Ways to Save On Daily Spending

    There is an array of saving benefits. These benefits range from accumulating funds for your investments plan and enhancing your peace of mind as you feel more prepared for life’s uncertainties. However, reaching your saving goals seems like a difficult task especially when starting out. Do not fret. You can grow your saving account by starting small and you will have accumulated significant amount by the close of the year.

    But how can you save on daily spending to accumulate more savings? Below are six actionable tips to save.

    Cut on Groceries and Gasoline spending

    You can save money on groceries and gas through loyalty cards and other retailers. Try to find the best deals in your locality. You can use the plethora of apps available such as Gas Guru, GasBuddy and Waze to find the cheapest gasoline. Note that the app users generate the prices so they might be outdated. Try to save on gasoline usage by consolidating on trips. Also, purchase gas gift cards. Some sites offer discounted gas gifts for gas stations such as Gulf. If you drive a lot find a credit card that rewards you for buying gas. However be wary of cards that carry high interest. They will work against your saving plan.

    You can avoid spending too much on groceries by cooking from scratch. Avoid packaged foods which are more costly. Be on the lookout for unit prices and groceries stores discounts. Make comparisons and go for the cheaper.

    Another way is cutting by groceries by getting creative with what you have. For instance, you can make soup with overcooked veggies. Make a grocery list and stick to it. Use storage tips to keep your groceries for longer.

    Use a Cashback credit card to shop

    Ideally, Cashback credit card brings money back to your pocket. Hence they are a better choice compared to using debit cards. You see, when it comes to saving even little amounts are significant. In fact, most cash back credit cards will reward you when you use the card in certain business categories such as restaurants, grocery stores and gas stations. Ensure that you use the most beneficial while in these venues.

    Another common strategy among consumers is trimming what they owe on cards. You can use balance transfer credit cards which offer 0% or low APR. You will be dismayed by the amount accumulated at the end of the year.

    Cut on Subscription

    There are numerous subscriptions available today from movies to magazines, to music. A straightforward saving method is canceling all subscriptions that you do not use. For instance when is the last time you used a landline phone? If you are not using it, then you should not be paying for it. According to Centris, an average American pays $900 for Cable TV annually. Well if you cannot cancel your cable consider downgrading your subscription. There are also numerous free or very cheap subscriptions that offer a plethora of on-demand TV shows. Similarly, if you feel that you pay too much, contact the subscription service providers through a call. Try to negotiate low rates for Internet service, newspaper or TV, a magazine subscription.

    Avoid paying for convenience

    You may often or once in a while find yourself buying coffee for $6. Well, you can save much by starting to brew coffee at your home. It will cost you significantly less. You can take whatever you save straight to your bank account.

    Every time a company invents new and convenient products, people are more than willing to spend on them. You can grow your saving account by taking some time to do some home repairs, cook at home or brew coffee. You will be surprised by how much you can save.

    Automate Your Bills Payments

    With the hassles and bustles of life, it is common to fail to pay bills on time. Any overdue balance typically attracts a fee of between 10 and 15 percent. So if you are late on multiple bills, these accrued fees will add up quickly. It might be $10 here and $5 there but if you can save that, you can rest assured your saving account will be fatter. Paying your bills when due is one of the easiest ways to save money.

    Pay your bills on time by setting up automatic payments. This move will go a long way in avoiding fees due to late repayment. Always check your account to avoid additional fees and account overdrafts.

    Switching bank accounts

    One way to save money is to avoid paying fees. If you are struggling to pay your monthly bills, these fees might hit you hard. In fact banks make huge profits from these fees. How can you avoid paying these fees? Simply by discerning the string attached. For instance, open an account that does not have a minimum balance or avoid minimum charges by carrying the minimum balance. Additionally, you may have to to make purchases above certain figures using your debit or credit card. It is also prudent to receive an electronic statement as opposed to hard copies.

    According to 2018 Bankrate study, the average bank and thrift overdraft is $33.23. The best part is that you can avoid paying these and other fees. For example, you can simply stop overdrafts drafts and the immanent fees by opting out. Similarly, you can reduce using out of network ATMs by withdrawing cash in retailers and grocery stores.

    Some bank gives you some bonus when you open an account. Keep an eye on this bank bonuses and check if you could get these bonus for meeting particular requirements or for opening a bank account.


    Saving is a prudent step for future investment plans and preparing for unforeseen circumstances. You should, however, ensure that you are not dollar wise and pound stupid. That means that you have to ensure you are not saving on one side and then waiting on other expenses. Try to find ways to save even if it is just $5. They will add up and fatten your account. Follow the tips above and you will be happy you did.

    News Reporter
    • 10+ years of experience as a freelance commercial writer
    • Expert in marketing and public relations
    • She has written extensively about financial issues