5 Simple Ways To Save Money

simple-ways-to-save

Everybody is always looking for new ways to have more money in their bank accounts. You can either earn more income or save more money. It can be difficult to earn more income, especially if you’re not due a raise, can’t work overtime and don’t have time for a second job. But everyone can save money. Don’t know how? Here are 5 simple ways you can save more money.

Buy in Bulk

Buying in bulk is a good idea, even if you live alone you can benefit from buying in bulk. Household items such as paper towel, toilet paper and cleaning supplies can all be purchased in bulk and they’ll never go bad. Food can also be purchased this way, perishable foods such as milk and eggs can be acquired, but it may be best to split the cost and product with a friend to prevent food from spoiling. National bulk chains, such as Sam’s Club, BJ’s and Costco may charge a small fee to shop there, however the savings is well worth it as most places charge per year, not per trip.

Be cautious that you have room to store the items, and that they will be used before going bad, shelving systems are good for this and can be made cheaply at home. You can store excess items in the basement, attic or garage if there’s no room in the kitchen.

Attend, or organize a clothing swap

Whether you have changed clothing sizes, style or just want new clothes, you can use a clothing swap to help save you money. Many people in one community will gather all their gently used clothes and meet in one location. These are run many ways; some swap one article of clothing for another, others offer vouchers that can be turned in that can be used until you find clothes you like. These are especially useful for children’s clothes.

Social media sites can help to arrange meetings as well as classified sites. If you cannot find an already running swap, you may want to consider running your own.

Build a garden

By planting a garden, you can have fresh produce all summer and save money on food. If you do not have much space, plants like tomatoes work well in window boxes. Many trailing plants, like squash and zucchini can be trained to go up, as well as out. Be cautious with a vertical garden that as produce grows you place something there to support it, otherwise the fruit, or veggie, may get large enough to pull itself off the plant, thus making it useless.

To water your garden, use rain water. Place an old trashcan, or other large container, outside or under a rain gutter then use this water for your garden, to wash the car your dog or any other outside use where very clean water is not needed.

Freeze Foods

All year long, freeze fruits and produce this way you can have whatever you want, fresh, even when it is not in season. If you take advantage of buying in bulk, freeze perishable foods, meat and butter are two things that freeze very well. If you only use a part of something canned, freeze the rest. You can also freeze fresh herbs in oil, using an ice cube try, in order to have a handy base to cook with, as well as fresh herbs when needed.

Set Savings Goals

Start small, try to save an extra 10 dollars per week, slowly try to add more to this as you learn to budget and save better. Place the money in a savings account. One easy way to do this is to set up your bank account so that money is automatically withdrawn from your checking account and deposited into your savings on a weekly or monthly basis. Once you get a larger amount in your savings, look into CD’s or other investing options. You want to get as much interest as possible with the lowest risk possible. If you want ultimate security, make sure the account your money is in is FDIC insured.

Anum Yoon

Anum Yoon is the founder and editor of Current on Currency. She loves all things personal finance, which is why you'll find her work all over the PF blogosphere. Catch her updates on Twitter @anumyoon!

Leave a Reply

Your email address will not be published. Required fields are marked *