Lifehack logo

5 Money-Saving Habits That Can Also Improve Your Life

A ‘Two birds with one stone’ strategy!

By Shalin ThomasPublished 2 years ago 5 min read
Like
5 Money-Saving Habits That Can Also Improve Your Life
Photo by Annie Spratt on Unsplash

What if you can save money in the long run while also improving your health and life quality? Well, I did so. And it’s not as difficult as it sounds. It just takes a bit of practice…

In this article, I will share with you 5 tips I learnt while living alone for 5 years, that I still follow to this day. These habits have helped me not only to save money and time, but also to improve health, quality of life, and to be more active and productive in general.

So before I make you bored enough to scroll down fast, here are the 5 magic tips:

1- DITCH THE TAKEOUT; START COOKING YOUR OWN MEALS

Warning: I don’t intend to offend any of you Starbucks lovers or Panda Express addicts reading this…

This tip is probably the tale as old as time, especially in large cities, where takeouts are as expensive as a week’s worth of groceries. Packing my cooked lunch to work everyday helped me save at least $300 monthly.

That’s $300 x 12 = $3600 a year! Needn’t mention here what that can get you at the boxing day sale at the end of the year!!!

Not only that, but it can also significantly improve your health as cooked meals are way healthier on average than what you get from a profit-hungry restaurant. Plus, you save money on all that takeout packaging when all you have to do is to invest in good quality Tupperware.

Mind you, I don’t go hard on myself by denying me that delicious sushi, whopper, or chow mein from my favorite joints… Takeouts are restricted to once a month, or when I’m too sick to cook myself a bowl of piping hot rice porridge!

2- WALK OR RIDE A BICYCLE AS MUCH AS POSSIBLE

Walking or riding a bicycle (if you own one) to walkable distances can save you some bucks, in addition to improving your health. Luckily, I happen to live near numerous grocery, clothing, convenience, and thrift stores, that it takes no more than 40 minutes to reach the farthest one by foot. And if you are fortunate like me, you can try giving your car a break by walking or putting your bike to use.

This habit helps save me the bus charge of $6.20 per round trip (to and from) and around $40 per month, which amounts to approximately $40 x 12 = $480 per year.

Warning: This habit can be very time-consuming!!! So you may want to consider driving or taking public transport when it comes down to getting to work on time. I don’t own a car as of now, so when it’s inconvenient to walk/ride the bike to get to places, I use public transport to save money.

3- BUYING IN BULK

From coffee and canned tuna, to shampoos and laundry detergents, I make sure I buy whatever essentials I use frequently, in bulk. Many local grocery and department stores offer discounts on bulk purchases. This not only saves money, but also helps you stock up for the rainy days. My pantry and storage are now fully stocked to keep me going for a whole year, and I’m not kidding!

I don’t know exactly how much money I saved with this habit of mine, but considering how each item in a bulk purchase cost less (when dividing the total price with the number of items per lot) as compared to the price of individual items for sale, plus the reduction in the time and cost of the numerous shopping trips for replenishing the stock, this habit comes handy!

Although buying in bulk helps save money and time, keep in mind that it is mostly applicable to essentials with a longer shelf life. You must consider how much time you (and your family) take to consume the products when it comes down to stocking up on perishable items, in order to avoid wastage.

4- AVOID THESE 3 P’S WHEN PURCHASING

On regular grocery shopping trips, one often fails to identify the “3 P’s” that can degrade one’s wallet and health. They are: Packaging, Processing, and Preparation.

Packaging costs extra. So on items such as fresh produce, fresh fish/poultry, etc, you can try and avoid it. Many stores charge you extra for the shopping bags they provide, therefore you may need to invest in a sturdy shopping trolley to avoid spending the pennies and also to avoid carrying heavy bags that have the potential break your back.

Processed foods such as sausages, salami, soft drinks, microwaveable meals, etc. are not only notorious for destroying your health, but also eats up your money little-by-little as they charge extra for their processing.

Prepared meals charge extra for the preparation, and at times, the packaging. Buying the ingredients to prepare the same ready-to-eat meal by yourself, is cheaper and as well as healthier, taking the added preservatives into account.

Warning: This tip mostly applies to your weekly grocery shopping, so you MUST consider not skipping out on the packaging when it comes to TV, or any of your other handle-with-care purchases (lol!).

5- CANCEL THAT GYM MEMBERSHIP

I had purchased a gym membership with the hopes of getting that coveted beach body, however it was only last year when I finally decided to cancel it, that it struck me on how much money went down the drain, because when joining the gym, little was I informed on the hidden fees.

I used to pay $5 plus tax every month for my basic tier membership. I did pay around $90 as the one-time non-refundable starting fee. Plus cancelling it before the renewal period costed me another $70. So overall for a year’s use, I’ve spent around $220 before taxes!

Now that I’ve finally come to my senses on the gym expenses, I invested in some basic home exercise equipment such as dumbbells, yoga mat, stationary bike, ab-trainers, etc. And the results are not very different from my gym workouts!

Definitely not recommend if you are in professions that demand extreme workouts under professional supervision. Home workouts also depend on the space available for you to exercise, as well as your ability to shell out money to buy some quality equipment.

school
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.