Saving money fast? Read these 7 tips to reach your savings goals

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While it may seem odd to save during a pandemic, having a set goal during a time of uncertainty can be a source of stability – to some extent. It can also allow you to project yourself into a brighter future, which should improve your overall well-being! So if you’re wondering how to save money fast, check out these tips to quickly increase your savings.

If you want to get a good deal on a car, the best time to buy is usually at the end of March, June, September and December. Why? Because most dealers have specific sales targets to meet in order to claim their financial bonus. Although these sales targets are set weekly and monthly, the big bonuses are distributed quarterly. This means that you are likely to get a better deal on a car at the end of each financial quarter, as the car dealership will be keen to hit their quarterly sales target.

Reduce your shopping expenses

If you can manage to reduce your shopping expenses each week, you’ll be amazed at how much you can save in a few months. One of the best ways to do this is to plan all of your meals in advance. This means you can accurately calculate how much you’re going to spend before you shop and reduce your chances of going over budget.

Another tip would be to consider not consuming meat once a week. Since meat is generally more expensive than vegetables and vegetable products, it can be profitable to go without one day a week. These small weekly savings will add up over time.

In addition to that, be sure to look at the products sold at the bottom of the shelves. Supermarkets often put their most expensive products at eye level, to encourage you to spend more, and the cheaper products are closer to the ground, making them harder to spot.

Cancel your unused subscriptions

Subscriptions are incredibly lucrative for many businesses because once customers sign up for their service, they’re less likely to cancel their subscription, even if they rarely use it.

This is largely due to sunk cost bias. Applied to a subscription, sunk cost bias means that it is difficult to terminate a seldom-used subscription because you have already invested so much money. Thus, terminating the subscription would be tantamount to accepting that the money spent so far has been wasted. Postponing the termination of the subscription maintains the illusion that this subscription can still be used. In general, very few of us fully use our subscriptions. That’s why it’s more beneficial to cancel unused subscriptions now than to keep them in case you use them later.

Do small daily repairs yourself

Trying to fix what you broke yourself is a great way to save money – we’re talking small repairs here, of course. Thanks to YouTube and the Internet in general, it is easy to find online how to fix many things in your daily life. From leaky bathroom pipes to changing the belt on your washing machine, to fixing the zipper on your jeans, it’s always better to fix these things yourself than paying someone. one to take care of them, or to replace them completely. In decorating your backyard, you can use outdoor rope lights instead of strip lights to light up your evenings in your garden.

Set a no-spend day per month

To get used to saving money, decide on one day a month when you will spend absolutely nothing except fixed costs. For this, you can prepare all your meals from the ingredients you have at home, choose to socialize in the park or at home, and spend a relaxing evening reading or watching television. Once you get used to it, you can do this two days a month, and maybe even one day a week to really increase the amount of your monthly savings.

Think before you buy

Giving in to temptation is the biggest problem when trying to save money fast. Before making a big expense, whether it’s an impulse purchase or not, give yourself at least three to four days to think about it. This will prevent the impulsive part of your brain, seeking a dose of serotonin after purchase, from taking over.

If you really want to test yourself, try only making a big spend after 30 days of consideration. It’s a surefire way to control your impulse purchases and give you plenty of time to make sure there isn’t a better deal.

Sell your unused items

If you want to start saving money for your vacation quickly, it’s worth making a list of all your unused items and selling them on an online sales site such as Le Bon Coin, for example. This not only declutters your home but also saves you small amounts that you can save for your next vacation. Conversely, you can also start buying second-hand items more frequently, in order to achieve significant savings and avoid over-consumption.

Helen Miller

Helen Miller is a freelance writer at Usevoucher. She covers personal finance topics in a syndicated column that appears in Financial Planning Magazine. Her work has been featured by Market Watch, Digital Journal, Chicago Tribune, USA Today, and Yahoo Finance. Helen has a bachelor’s degree in finance from the University of California, Los Angeles.