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Sneaky Ways to Save Money on Necessities

So, why are you still spending more than you save? With the price of living increasing each year, saving is challenging after spending on rent and utilities.

By Casey ChesterfieldPublished 3 years ago 4 min read
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Sneaky Ways to Save Money on Necessities
Photo by Damir Spanic on Unsplash

You don't spend too much money on designer clothes and fancy jewelry, and you have a tight entertainment budget. So, why are you still spending more than you save? With the price of living increasing each year, saving is challenging after spending on rent and utilities.

Still, there's a way to save money on necessities without even realizing it. The average price of appliances, rent, and electricity may increase, but you can reduce the amount of money you spend on them with a few tips and tricks. Look for deals, find coupons, and always remember to do your research. Here's how you can start to save on your essentials.

1. Find the best deal

It's crucial to determine the average cost of necessities and essentials before you spend your money on them. If you don't look for the best deals, you may end up spending a significant amount of money on something you could get at a lower price. You can find deals on everything from an amenity like a house or vehicle to electric bills and rental rates on housing units.

It's a good idea to conduct a price comparison search before investing in a service or product. For example, if you need a cheaper electricity plan, a place like Money Gains can help you save a significant amount of the total cost. Whether you're looking for appliances, electricity tariffs, or the best price on a new home, a comparison website can help you out.

2. Do your research

Even if you budget carefully and consistently, you can end up spending more than you'd like on things that need repairs. Homeowners in the United States often forget to account for home repairs when they budget for a new home. It's also essential to save money for new appliances that can have performance issues after a few years.

When you budget for your home repairs, consider how you can save money. It's crucial to do enough research about the repairs you need. You may think certain small home repairs are cheaper as DIY projects. However, even though something like a window replacement costs between $1,000 to $8,000, you may still save money if you hire a professional. Remember, it's cheaper to spend that average price once instead of several times if you end up doing a shoddy job.

3. Pick cheap storage options

Do you have enough space for all your belongings? If you don't have enough room in your garage and want more storage space for items you don't want to throw out, you may need a self-storage unit. For homeowners in the U.S. who have small square foot apartments, self-storage units are a lifesaver. However, make sure the storage company you pick isn't overcharging you.

To find a storage unit at a cheap rental rate, it's a good idea to shop around before making your final decision. First, gather all your belongings and see what sort of storage space you need. With things like the required square foot in mind, you can then assess your total cost. Compare storage unit prices online or at storage companies in your area before you make a decision.

4. Use a savings jar

Not too many people in the U.S. use cash anymore, but don't knock this sneaky way to save yet. A savings jar is the best place to store all those nickels and quarters, but it can also help you save on necessities. Appliances often come with coupons and discounts for first-time servicing or additional accessory purchases. Save these coupons and receipts in your savings jar.

The next time you're at the grocery store, check your bill to see if you're eligible for a discount on your next order. If you are, save the receipt in your savings jar. Put in reminders for the savings you can get on future purchases, and you'll manage to save a significant amount of money the next time you need to make a purchase.

5. Stop using auto payments

Does all your money go into the same bank account and go out through auto payments? It's impossible to save if you're not keeping track of the amount of money you're spending. You may be paying fees for streaming services and apps you don't even use. To save on necessities, consider using a more old-school payment method — write out checks or pay after you receive your monthly bill.

Remember to write a list of what you owe to keep track and pay bills on time to avoid late fees and penalties. Cancel what you no longer use and set an entertainment budget for streaming channels. Also, remember to disable the autosave feature for your credit card on online shopping sites.

6. Consider clipping coupons

Clipping coupons may seem like a waste of time, but it's an excellent idea when you're trying to live on a budget. The less you spend at the grocery store, on furnishings or essentials, the easier it will become to save without even realizing it. Also, remember to look for clearance and final cost sales that can help you save money.

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