The cost of living around the world has been increasing with no exemptions for Canada, the UK, Nigeria, and Australia. Yeah, I know; I am talking about the cost of housing, rent, and groceries or food.
The rising prices continue to impact the ability to meet up with day-to-day expenses. This is the reason why we are sharing 7 tips on how to save money while keeping a semblance of what life has meant to you.
1. Automate your savings: sounds easier than it looks. You should consider setting up automatic transfers to a savings account to save up without having to think about it.
2. Track your Expenses: Monitor it like a parcel. You can use apps like Mint to understand where your money goes and make informed decisions about how you can save better.
3. Shop Smart: compare, compare, and compare prices. Look for discounts or coupons.
4. Cook at home: cooking at home will help save almost half of your current cost. Especially as you will be cutting down on eating out and saving on groceries. Then plan date nights.
5. Use Public Transportation: As often as you can use public transport. The main aim here is to save money on fuel, maintenance, and parking. If you would enjoy going solo. Try biking.
6. Cut unnecessary Subscriptions: Check your streaming services via your App usage and review your gym membership to suit your availability.
7. Avoid Impulse Purchases: This came last for a reason. If you follow the six steps above religiously and ignore this, all would have been for nothing. Plan your splurge to be a percentage of the reward from your savings rather than a need.
CEO's Tip: Hey! This won't be easy, but you can start now because it gets easy as you go.