I was out to drinks with a friend last week and noticed her fresh, flawless manicure. After telling her how great her nails looked, I asked another more personal question.
“How much do you pay to get those done?”
She shrugged and mentioned casually that it was usually around $50, sometimes more if she decided on a matching pedicure. A quick bit of mental math, and I was floored – my friend was spending over $1,000 each year to get her nails done twice a month.
When it comes to budgeting and saving money, most people don’t realize exactly how much their small habits are costing them.
Here’s my advice for seven ways to put (and keep!) more money in your bank account. All of these have helped me save over $1,000 each month.
1. Start getting paid while you watch TV
How many times have you found yourself sitting in front of the TV binge-watching your favorite shows? For me, it’s more often than I’d like to admit.
Well, a few years ago I decided to start making money while I was binging the latest show. I started taking online surveys. Has it made me rich? Of course not, but I’ve made a little extra cash while I sit my butt on the couch at night.
There are a bunch of survey companies available, but I have been able to find a handful that will actually give me a constant stream of surveys to participate in. My favorite right now is Survey Junkie.
A couple of other options would be the following:
- Inbox Dollars
- Swagbucks
- OneOpinion
2. Open a dedicated savings account
It’s way easier to stay motivated and on track with your savings when you set it aside in a separate account. But not just any savings account. To make your money work for you, your best choice is a high-interest savings account.
Most commercial banks don’t offer these types of accounts to customers. Fortunately, there are a handful of online savings accounts out there that have low fees, high interest rates, and flexible terms that make them perfect for both beginning and expert savers.
If you’re looking to open a savings account or earning less than 2% on your current account, check out CIT Bank. The CIT Savings Builder account allows you to earn up to 2.30% with an opening deposit of as little as $100. You’ll be pleasantly surprised with how great service can be from an online bank!
3. Get Cash Back on Groceries
Groceries are one of those necessary expenses. You can’t eliminate it from your budget, but you can start getting more bang for your buck on each shopping trip!
In addition to using store loyalty cards to get discounts and deals, check out all the great apps out there that give you cash back rewards. Most of the time, it’s as easy as scanning your receipt.
Ibotta, Savingstar, and Checkout 51 are my personal favorites. In addition to getting cash back on grocery purchases, you can also get cash for online purchases, pet store purchases, wine/liquor stores, and even pharmacies. Once you start using a cash back app, you’ll be hooked on the hundreds that you can save!
4. Slash Unnecessary Subscriptions
Recurring expenses add up, and the longer you let your unnecessary subscriptions linger, the more you’ll end up spending.
That’s where Trim comes in! Trim is an awesome service that, by analyzing your spending, can help you save a ton of money in the long run.
First, use Trim to help you find (and cancel) any unwanted subscriptions. You can also use Trim to help negotiate a better rate on your cable, internet, and even your phone bills. Trim takes all the heavy lifting out of streamlining your finances and makes saving money effortlessly.
5. Declutter, Purge, and Sell
Let’s face it – we all have stuff laying around that we don’t use anymore. Do some decluttering and go through the depths of your closet to find stuff to sell.
Local consignment stores or websites like Poshmark are a great place to sell gently-used clothing. For blu-rays, DVDs, and video games, you could try SecondSpin. And for everything else, there’s always eBay, Craigslist, and Facebook Marketplace.
Get organized and add more cash in your pocket.
6. Ditch the Gym
Most gym memberships can cost as much as $100 or more. That’s a lot of money down the drain, even if you’re working out regularly.
If you love having a personal trainer or switching up your workout from day to day, there are a couple of great options out there at a much more reasonable price. For someone who likes to try different workouts – from outdoor running to yoga and even strength training – the Aaptiv app gives you access to a huge library of workouts. Its basic membership is only around $10 per month.
And for those who want something new each and every day, Daily Burn gives you access to a new workout each and every day for as little as $15 per month. Both give you the ability to tailor your workout, so whether you’re a beginner or an expert, you can save big. Plus with both options, you’ll never have to leave the house!
7. Rent Out What You’ve Got
You’ve probably stayed in an Airbnb; it’s one of the best (and cheapest!) ways to travel. So if you have extra space, why not rent it out as an Airbnb host? Even if you don’t have a spare room, you can rent out your space when you’re not using it. Take more weekend trips and put more cash in your wallet!
Another great rental service that you may not have heard of is Turo. Turo connects car owners with people who want to rent a car. If you have an alternative form of transportation, this is the perfect way to turn your car into a source of extra income.
Saving money doesn’t need to be difficult
As you can see, saving money isn’t about doing just one thing. By combining small changes with new habits, you can save hundreds if not thousands over the long run! Everyone’s financial goals are different, but no matter whether you’re looking to save for a vacation or retirement or just to pay off a loan, these tips will help you reach your goals faster.
