It’s always a good idea to save money. Especially with the looming cloud of inflation and recession in the economy. Does your wallet or bank accounts seem a little lighter recently? You might want to start looking for 5 ways to save money fast to cut your monthly expenses and save as much money as you can. You’ve come to the right place. I have five fast and easy ways for you to start saving money starting today.
1. Sell Unused Items
Everyone has a collection of unused items lying around the house. Why not make money by giving that item a new home? Collect all these items that no longer serve you and sell them for a small profit. You can make a listing on websites such as Facebook MarketPlace, Depop, eBay, Mercari, etc. Take a picture of each item and set your price. A listing takes less than five minutes to create and post. Here is podcast episode I did with Jason Butler on the topic. Take a listen.
During the summer months you can also have a tag sale. You can get the whole family involved. I have seen it where several families on one street host a block or street wide sale which works really well. This will help declutter your home, condo or apartment as well.
Get more intimate with your money by using budget envelopes. Budget envelopes divide your income into different spending categories. Everyone’s envelopes will look different depending on your income and personal priorities. Make a list of your categories and see how much money you want to save and send in each one. Budget envelopes can be done in two ways.
- One way is using the tried and true cash, budgeting envelopes. Literally taking the cash out of the bank and putting it into the envelope for a said category. Grab you cash envelopes here.
- Another way with digital envelopes. They are also very popular. QubeMoney is the #1 new budgeting app. They are on a mission to digitize budgeting envelopes. Qube Money to easily make digital budget envelopes.
3. Use Money Savings Apps
There are hundreds of different apps that can help save you money. Check out apps such as Ibotta, Honey, and Upside. Ibotta gives you cashback for purchasing certain brands by simply taking a picture of your receipt. Honey is a web extension that scans the internet for coupons to use on online purchases. Upside will reward you for transactions made at gas stations, restaurants, etc. With gas prices as high as they are, this app is a game changer for saving a few cents on each gallon.
4. Cancel Unnecessary Subscriptions
Have you ever forgotten to cancel a subscription before the next monthly charge? We’ve all been there! You can either make a list of all the subscriptions you’re currently paying for. Decide which ones are worth keeping and which ones you can live without or you Truebill makes it easy to find unwanted subscriptions and cancel them for you! Truebill currently has 2 million+ members, so see it is not just you that need help with getting rid of unused subscriptions. Many would have Netflix, Hulu, Audible, Blue Apron, etc.. and sometimes forget that they have so many. The $9.99 a month here and $12.99 a month there all adds up. As I write this blog, I see on their app, it mentions they have helped their members save over $100 million dollars in counting. Most people think of Truebill for the “finding the unused subscriptions” app but they do a ton more. Check them out now.
- 5. Shop At Garage & Estate Sales
Summer is upon us meaning it’s garage sale season! In this scenario the tag sale are for when you are the shopper. Keep an eye out for garage or estate sale signs hung up around your neighborhood. You could get big-ticket items at a discounted price.
These are 5 quick and easy things that you can begin doing right now. You start with one or put all 5 into motion. As you begin to save from one or all of these tips, it is important that you are intentional with your savings.You can use it to increase your freedom fund, pay off debt, start a business or go on vacation. The key is do whatever it is that you want to do since IT IS YOUR MONEY.
Across the social platforms, Instagram, Twitter, TikTok, Pinterest, we are at @itsmymomey_, and if you are not following and need more money tips, I encourage you to do so on all or whichever you scroll through the most. I regularly give tips about how to save money, the best 5 ways to save money fast to budget and why it is important to money management and how to earn money passively with side hustles. My YouTube channel, It’$ My Money with Patrina Dixon has a lot of great information as tips from many of the guests I have interviewed on the show. If you are someone that enjoys YouTube, check out my channel and if you like what you see and hear, hit that subscribe button.
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If you have found these fast and easy tips helpful, leave me a comment and let me know. If you are doing any of the 5 or have others that you want to share drop them in the comments below as well.