20 People Share Their Best Hacks To Save Money
The uncertainty of not knowing how long you’ll be able to afford your bills is scary but real. In fact, many of us are living paycheck to paycheck and thus it is sometimes necessary to know some hacks that can help in saving some money for tough times.
When a Reddit user asked, “What is your best financial life hack?”, many people shared their weird, unusual, and helpful tips in the thread. Scroll below to read some of them.
More info: Reddit
“I don’t smoke or drink. Saves me a lot of money.”
“Bringing pack lunch, or always have a snack in my bag.”
“Don’t spend money you don’t have! It’s a revolutionary concept, I know, but it really works wonders.”
“Use the library for books, CDs, DVDs, and audio books.”
“Our biggest money saver is cooking our meals at home. We bake bread 3-4 days a week ($0.50/ loaf) and grow lettuce, peas, cucumbers, and herbs by a window all winter.
Feel great, more money in my pocket!”
“Eat before you go to the store and always make a list and stick with it.”
“Adjust what you think your zero is. Everyone has that “oh s**t I’m broke” number– I just inflated mine so I think I’m broke when I’m not. If I have $1000 in my bank account, I treat it like $0. $1050 is treated like I have only $50. It’s weird, but it’s been working so far.”
“Live below your means.”
“Just drink water.”
“Uninstall grubhub and doordash from your phone.”
“Banks are not your financial advisors, don’t take their advices. They are a business and think about their profit.”
“I’ve found recently that I do better with my finances when I check my account on the app every day. It’s almost addicting seeing my credit balances lower. I also notice that if I haven’t checked it in a few days I’ve been making bad financial decisions. It’s all mental at this point but it’s helped since I started doing it last October.”
“Don’t buy NFTs.”
“Every time you get a raise, hide it. Increase your 401(k) contribution, or put it into an IRA, or invest in stock, or just put it aside in savings.
In other words, don’t get used to a higher level of consumption. This is especially important when you’re young.”
“Buy better quality clothes but on sale. Shop at stores like TJMax and Marshall’s, especially if you live in a bigger city next to large malls. They get all of the good stuff that they didn’t sell in the mall that season. This way, your clothes will last longer.”
“When you have a partner and share finances, but you have different styles of managing money, it’s a good idea to keep separate accounts.
When my wife and I got married, we agreed that any expense over a certain amount, we would have to discuss and agree to. That amount is fairly low.
Low-fee market index funds are the best investment.
When you are considering a purchase, give yourself at least 24 hours, if possible, before pulling the trigger.”
“Make an actual budget and stick to it.”
Image source: LVL100Stoner
“Act like you always broke.”
“When you spend money think “Is this worth x amount of time that I spent at work?”
“If you are good at sometime – don’t do it for free.
I can plant gardens and mulch them. It’s relaxing, fun, easy and rewarding. Some people want a nice garden with edges and mulch. Takes me a few minutes to pick out some perrenials, and order them, with a bulk load of mulch and soil. I can drive it to a house, unload, cut out a garden and install the new one within a few hours, then go to a spot and unload to scrap I dug out (grass usually).
I did this for free for a buddy. His neighbour wanted the same, and I said we could do it. They paid me $500 for a few hours labour and the materials. Now I charge $500 and walk away with $350 profit for a few hours, for the same work I was doing for fun on Sunday mornings.”