A penny saved is money for later use, which is the meaning of saving, save some for later use. I don’t know why you’re saving, but I save for future trips, big-ticket purchases in the dumpster, and unexpected hospital bills.
I’m sure saving has been a challenge since the pandemic, with all the lockdowns, shutdowns and unsafe and uncertain working conditions. The last two years have been a drain on money for most of us, and now that everything is open and trying to get back to normal, we are all trying to build our savings again.
Here are some practical money-saving tips I’ve done over the past year
Use the grocery app
This will help you save on fuel parking and get coupons and discounts. Shopping or convenience fees are just over $1, the same as delivery fees, and sometimes free. I used to love going to the grocery store, but since the pandemic, I’ve relied on food and grocery delivery apps. It’s seen as a luxury, but honestly it’s a necessity, especially during lockdown. It saves me taxi money, the anxiety of getting up close and personal, and I don’t have to deal with so many unnecessary items that my daughter picks up when she walks through some grocery store aisles.
when shopping with kids
If we go to the grocery store in person, I no longer use carts or baskets, I just tell my daughter that we will only buy what you can hold! it works! But sometimes she can be very smart and will try to carry everything she wants. I don’t have a picture, but it does happen!
Use an online shopping app
I know it sounds counterproductive, but honestly, using an online shopping app has saved me a lot of money, especially when I buy during a sale. Many online shopping sites and apps are now offering promotions with discounted prices and free shipping on every payday sale or double-digit days per month. Cash back or refund points are also great, in time you can get enough discounts to buy what you want.
Using the loyalty card/app
A money-saving trick that everyone still needs to get used to is using a loyalty card or app. You can use the app anytime you forget or lose your card. With fuel prices skyrocketing now, most petrol companies offer memberships that offer their members great discounts on fuel prices. Some supermarket membership cards also give you discounts at some gas stations. You can also use the accumulated points on your membership card to redeem freebies and vouchers that allow you to buy not only fuel but also food, groceries, gadgets and more. Some loyalty cards are also virtual now, you just need to download their app and scan your loyalty card and discounts with a QR code.
Use a money app or banking app
Since the pandemic, I hardly ever use cash to shop and pay. The one I’ve been using is my favorite (reveal it in the comments below haha!) The best money-saving trick is to use your phone to your advantage. The money app I use has cash back on everything I do with it, like paying for my groceries or food delivery, paying bills, withdrawing money or cash, sending money from bank to bank, etc. Now they’ve also improved their interface, which includes cryptocurrency trading, savings accounts, and credit accounts. It’s an all-in-one money management app that makes money management easier for me.
Use a debit card
Cut out your credit card and use a debit card.When you use a credit card, you pay interest and balance and all other fees and late fees, you realize how much extra you can save
Use cash on the things you’re most likely to overspend
This is one of the most practical money-saving tips. Use cash. Because visually, when the money is gone, it is gone! You’re gone, you’ve finished consuming. This will help you stay accountable. Like I went to the mall and saw some pretty things I wanted and looked, they don’t accept any electronic payments and I didn’t have cash, I walked away! Money not spent is money saved!
Use a savings account that gives you good interest rates!
my money app The savings account I mentioned above has an introductory interest rate of 6% per annum. They do not require a balance to be maintained and you can transfer money from your savings to your wallet at any time without any restrictions or fees.
If you want to see how much your savings can make, you can try Savings calculator. The calculator on their website uses the dollar as the default currency symbol, but the calculations for compounding savings are the same almost everywhere, especially since their calculators allow for different compounding frequencies. It also has a feature that allows you to create a table of savings growth over time.
give up comparison
This will help you keep your budget the same. It’s easy to see what everyone has, and by doing so, you tend to overspend. Put on a blindfold and just focus on your life, budget, and goals.
Set some goals!
Goals will help you stay motivated no matter where you are or what your financial situation is. This will set your reason, why are you doing this? Putting your goals there and celebrating your big and small victories will help you stay motivated.
What about you, what money-saving tips can you share with us that you’ve done during the pandemic and are still working now that life is trying to get back to normal?
