Rachel Cruz is a rising voice in the personal finance space with a growing reach on social media.Money Maven is all about exploring Embrace ways to save money.
No more bottled water
Start small and easy. Stop buying bottled water. That’s totally terrible for the planet and bad for your bank account.
“Sure, a high-quality, reusable water bottle can be a one-time purchase, but if you find yourself buying bottled water regularly, it will quickly pay for itself (and some too) ” Mr. Cruz wrote.
Here’s another small, easy thing you can do whenever you’re just sitting down (bonus if you have a smart system and can do it from your phone). It’s about adjusting the thermostat.This is extremely important during the extreme heat wave we are experiencing across the United States.
“If you’re leaving for part of the day to work or drop the kids off to their next activity, adjust your thermostat,” Cruz writes. “Don’t cool or cool an empty house to a comfort level. It’s a waste! This simple tip will help you save money on heating and cooling costs. Every. Single. Month.”
Cook more and eat out less
Food costs are rising everywhere, but cooking at home on a regular basis is much cheaper than eating out at a restaurant.
“The average American household spends nearly $3,030 on eating out each year,” Cruz wrote. “If you do the math, it comes out to about $250 a month. Think about it: The average household could save up to $250 by cutting down this (fun, but not necessary) budget line. It will be.”
Of course, after a long day at work or caring for someone, it’s hard to muster up the energy to go to the grocery store, buy dinner ingredients, and then go home and put them on a plate. So incorporate meal planning into your life (which Cruz also recommends as a money-saving hack) so you can limit trips to the supermarket and some of the mental math involved in cooking for yourself.
Bring your own lunch to work
It’s okay to cook dinner, but do you think it’s okay to buy lunch outside when you’re at the office? Think again! Packing your own lunch, says Cruz, “saves you all the time it takes to go to and from restaurants, saves you money every month, and saves you valuable lunch time.”
buy seasonal produce
If you’re craving a juicy navel orange in July, you might want to wait until the pain subsides. Navel oranges are in season from December to March, so they are most abundant and reasonably priced during this time.
“Seasonal produce is cheaper because it is easier to supply in large quantities,” Cruz wrote. “It all comes back to the concept of supply and demand that you (probably?) learned in your high school economics class.”
Shopping at your local farmers market will give you a good idea of what produce is in season. If you’re keen to save money, go near the end of the market’s business hours, when vendors are more likely to close and offer their items at discounted prices to avoid having to take everything home.
So, in addition to paying your basic cable bill, how many monthly streaming services do you currently subscribe to? It’s time to take a look and get rid of the ones you don’t need.
“Eliminate your cable bill from your monthly budget,” Cruz writes. “Instead, switch to a more cost-effective streaming service like Netflix, Hulu, or Amazon Prime Video. Alternatively, you can put up with the ads and get a free streaming service like Peacock, Freevee, or Vudu. Masu.”
get rid of debt
In order to cancel your debt, you need to spend money every month. This means that you will have to make larger payments to reduce your debt, but this is an action that can save you a lot of money in the long run as you will be able to maintain your interest rate. Debt alone can erode your bank account and ruin your entire financial life.
“Seriously, rethink your budget now,” Cruz urged of Ramsey Solutions. “How free would you be if you didn’t have to juggle car payments, student loans, and credit card balances every month? What could you do with that money instead? Literally anything. please!”
Check all insurance coverage details
If you have your bills paid automatically, as recommended, you may not fully understand how much you’re paying for different types of insurance. Are you paying too much or not paying enough, which could be even worse in an emergency? You can save money by having insurance checkups done regularly, and you can do them at any time. I can. Click here for Ramsay’s website.
This article was first published GOBankingRates.com: Money expert Rachel Crews shares 8 tips to save money every month