How To Save Money Fast

How to Save Money Fast

How to Save Money Fast
Image Courtesy of David Castillo Dominici, FreeDigitalPhotos.net

There are lots of reasons you might want to save money fast. Maybe you need to get a down payment together to buy a house or a car. Maybe you owe someone money and need to pay them back quickly. Saving money fast can work if you have a good source of income. They say the easiest way to make money is not to spend it. Most people can identify things they can stop spending money on and save the money instead. Here are easy ways to save money fast:

Cut Cable or Satellite TV (Save $100/month)

Painful, I know. But you CAN live without cable or satellite TV and you'll save about $100 per month. You can even get free TV with an antenna. I get ABC, CBS, NBC, FOX, and PBS over the air for free. You can start saving money immediately by calling your cable or satellite company and cancelling your service. If you want to try living with less TV for awhile first, some companies like Dish Network allow you too "pause" your subscription. This allows you to stop getting TV service and also stop paying the bill for up to 9 months.

Pack Lunch (Save $165/month)

You can save $165 per month by packing your own lunch rather than eating out for lunch. Packing your own lunch is not difficult and is healthier than eating out anyway. If both members of a couple take packed lunch, you'll save $330 per month.

Cut Eating Out (Save $150/month)

You can further cut your food expenses by cutting down on eating out. It is much less expensive to make your own meals at home rather than eating out. Even if you continue to eat out occasionally, you can save up to 75% off of your restaurant bill by following these tips to save money eating out.

Spend Less on Coffee, or Reduce Caffeine Intake (Save $100/month)

Many people spend a lot of money on coffee. When you get used to having a Venti Starbucks coffee every morning, it is hard to due without. If you have a couple cups of coffee shop coffee each day, this can add up to over $100 per month on coffee spending. You can make your own great cup of coffee at home for only 60 cents, or you can make cheap coffee for only 11 cents per cup! If you do this every day, you will save a significant amount of money every month. If you are really serious about saving money, you can quit caffeine or reduce your caffeine intake and save even more.

Eat Less- Turn Extra Weight into Money (Save $700)

The average American is 23 pounds overweight. You can save $700 if you convert 23 pounds of extra weight into cash. How can you turn your extra weight into cash? Reduce your consumption of calories, and save the money instead of spending it on food.

Take a Staycation Instead of a Vacation (Save Thousands!)

Another example of saving money by simply not spending it is to take a staycation instead of a vacation. What is a staycation? A staycation usually means that you visit local attractions while staying in your own bed- you'll save lots of money on transportation and hotel costs. You can also stay at a nearby hotel that offers perks like free meals and still save a ton of money compared with a traditional vacation.

Other Easy Ways to Save Money Fast

Pay bills on time- No more late fees
If you are paying ATM fees, stop using the ATM or get a checking account with free ATM
Cut daily newspapers, read news online for free
Cancel magazine subscriptions- read magazines at a library for free
Consolidate credit cards to get lower payments, save hundreds on interest every month
Cut alcohol- reduce spending on alcohol and bar tabs
Pet savings- groom pets yourself, avoid boarding by traveling less or having friends watch your pets

Most people could save over $1000 per month by following these tips to save money fast. The best part- you do not need to make any major changes to your lifestyle to save money fast. You don't need to move to a less expensive place to live. You don't need to find a job that pays more. You simply need to find things you don't really need and stop spending money on these extras.

Penny Pincher Journal

Penny Pincher Journal

Sunday, October 27, 2013