define('WP_AUTO_UPDATE_CORE', false);// This setting was defined by WordPress Toolkit to prevent WordPress auto-updates. Do not change it to avoid conflicts with the WordPress Toolkit auto-updates feature. Small Changes that Save Big Money | Good Cents - The PocketSmith Magazine

Small Changes that Save Big Money

Friday, August 14th, 2015 by Natalia


When the cost of living is on the rise and income levels are more or less stagnant, saving money can feel like a steep uphill climb. Nevertheless, if you are determined you can find small ways that overtime can add up to saving big money.

The following are just a few suggestions on how you can start saving by making some small adjustments in the way you think and ultimately in the way you spend. Take a look.

Find Ways to Reuse and Recycle

Instead of rushing out to buy the latest gadget or replacing something just because you can ask yourself if you really need to. You may be able to find nifty ways to reusing items or even repurposing things that were just lying around the house. This is also the green thing to do because it means you are reducing the amount you contribute to what goes to landfills.

Buy Only What You Need

Forcing yourself to justify why you are about to spend money is a good way of buying less, because nine times out of ten you don’t really need the item. This is not just good for your pocket; it’s also good for the environment. The less you use the better because fewer resources are expended to produce consumer goods. To implement this in a practical way, try doing a ‘once-over’ on your shopping cart before you head to the check-out counter. If you admit that you don’t need an item it goes back on the shelf.

Try to Use a “Cash-Only” System

Making purchases with plastic has a way of dulling the senses to how much is actually being spent. This could be because subconsciously you know that you have a certain amount of time to repay it and if you choose it can be stretched out even longer. This desensitization is the enemy of making a habit out of saving because it makes spending too easy. There is something psychological about handing over cash that hits home and registers immediately that you have $X amount less available to you, which makes it more important to justify your expenditure.

Watch Out for Bank Charges

Small sneaky charges can be very dangerous to your savings account as well. If you are not familiar with the features of your bank accounts, such as how many withdrawals are free and what you are charged additional for then you could be mismanaging your account. If you want to save on bank fees the first step is to educate yourself on the type of accounts you have and then abide by the rules or open a more suitable account. For instance, you may be able to get around multiple withdrawal charges by withdrawing bulk cash and keeping an envelope system at home.

Challenge Yourself to Cut Discretionary Spending

Finally, you can take up a challenge to cut back on discretionary spending. When you head to the mall you need to be especially weary because store windows and sale signs are designed to lure you to spend. It might be best to avoid shopping malls unless you have something specific in mind. You may also be able to save on expensive gym memberships by exercising outdoors or at home. Eating out less is another big factor in saving on discretionary spending.

It might seem clichéd to say that “every little bit counts” but quite simply… it does! Try to implement the tips found here and come up with a few of your own to test the results yourself. You should be able to put a little more aside every month and slowly build your savings balance.

Read here to learn 6 tips to increase cash flow without earning more money.

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