Saving money can seem impossible when you’re just barely managing to scrape by each month.
Everyone has been there: you’ve just graduated college, you have no idea what you’re doing, and you feel like you can barely afford to survive, let alone save.
However, it’s still important to attempt to put a little money aside and into savings each month, regardless of how much money you’re earning.
Below are some simple tips and tricks to add a little cash to your savings each month, even when it feels like it might be impossible.
1. Change Your TV Service
We’re living in the day of streaming services galore, so paying for overpriced cable or satellite TV service really isn’t necessary to get your fix of your favorite trash TV show (come on, we all have at least one).
If you’re currently paying for cable or satellite, consider making the switch to only using a streaming service such as Netlflix or Hulu.
Depending on how much you’re paying for your cable or satellite TV, this could end up saving you over $100 a month that you could instead put into your savings!
2. Cut Back on Eating Out
Eating out is fun, convenient, and let’s be honest, it usually tastes better than whatever you can whip up at home.
Sadly, eating out all the time isn’t the best for your budget – cooking your own meals at home is substantially cheaper than hitting a restaurant or grabbing take-out.
Instead of visiting your favorite lunch place every day during the week, prep your lunches for the week ahead of time and just grab one from your fridge and go in the morning.
Same goes for dinner; try cooking at home most nights of the week in order to cut costs and have some extra money to contribute to your savings.
Your wallet (and probably your waistline) will thank you.
3. Check That Grocery Bill, While You’re At It
While cooking and eating at home is cheaper than going out all the time, just going into the grocery store and aimlessly grabbing things isn’t going to be the most budget-friendly option, either.
Instead, plan each of your meals for the week out ahead of time and go to the store with a list of only the items you need to make every meal.
This will help cut down on impulse buying, leaving more money left over to add to your piggy bank.
4. Revisit Your Biggest Expenses
Sometimes your biggest expenses, like rent or your car payment, are what’s really holding you back from saving any money.
While visiting these expenses is a drastic step, sometimes it might be necessary in order to get closer to financial freedom.
Can you refinance your auto loan for a better interest rate, saving you money on your payment each month?
If you live alone, do you have enough extra room to look for a roommate?
Cutting down on these large expenses will free up a substantial amount of your budget, allowing you to breathe a little easier and work on your savings.