Are you ready to kick off the new year with a little extra cash in your pocket? We all know that saving money is a goal for many of us. Accomplishing goals and New Year Resolutions can be challenging. That’s where the ultimate life hack comes into play, and it has personally saved me a ton of money.
Imagine having a simple yet effective trick that can help you save more without sacrificing your lifestyle. In this article, we will share the ultimate life hack that has saved many frugal people money and made their financial goals for the New Year much more achievable. So, let’s dive in and discover how this amazing life hack can make a big difference in your finances as you enter the new year.
1. Buy cheap items
A user shared their thoughts about this life hack: “Buy cheap, buy twice. Spending more money on quality items you need or use frequently is worth it. Clothes, gadgets, and tools, for example.”
2. Eat more vegetables
On a discussion forum, a user offered a simple health tip. She suggested: “Eat more vegetables. They are cheaper than meat and will keep you healthy.”
3. No smoking, no alcohol
Another user had some advice on saving money and health. He posted this: “This one, these are expensive habits that turn into addiction. If you can manage to break free of either the habit or addiction, your wallet will be heavier for sure. It’s an instant cash drain that comes with health hazards. Hard to do, but well worth your effort.”
4. Set a budget
Another user gave a great recommendation for budgeting, as she quoted, “Have a budget. I like YNAB (you need a budget). It’s easy to use, they regularly make updates to the app. I think it’s worth the money. I have saved thousands over the last decade budgeting my money.”
5. Always pay off your credit card monthly
One person gave valuable insight on handling credit card debt. He advised: “If you use a credit card, pay it off every month. Look at how much you’re spending on interest on rollover balances; that’s money you could be spending instead of giving away. If you can’t pay it off, spend less. If you can’t because of emergencies (one after another), find help. Don’t put large amounts on credit cards that can’t be paid off unless it actually is an emergency and nothing else you can do.”
6. Cook your food
Someone on the discussion forum offered a smart perspective on cooking at home. She posted this: “Cook your food. The cost of a takeaway or restaurant meal would feed you for 2 days if you make it yourself.”
7. Home haircuts and color
A user commented about her DIY approach to hair styling. She quoted: “yep! I cut and color my own hair now, seriously save so much money! There are so many tutorials on YouTube, it’s actually pretty easy. Every year or 2 I go for a good cut from a stylist, but that’s it.”
8. Make coffee at home
Another user shared a clever tip for balancing coffee habits “Make coffee at home and have the expensive coffee shop coffee a once a week treat. Maybe do it Friday to celebrate the end of the work week or Monday to get you pumped for the start .”
9. Check your pantry first to avoid overbuying
Here’s another life hack posted by a user. “Make a list of what you already have in the pantry before you go grocery shopping. It lets you plan with pre-existing ingredients or anything that didn’t get used up the week before. It also keeps you from buying double.”
10. Update your car insurance
A user posted how to save money on car insurance. They mentioned, “Call your car insurance company and tell them you want to update your annual vehicle usage miles because you’re driving a lot less after the pandemic and you’re working from home. Set it as low as you can, under 5,000 to 1,000 miles per year. It could save you a couple hundred bucks.”
11. Stop using paper towels
Someone gave a tip for saving money and being environmentally conscious. She quoted “I stopped using paper towels (except in special circumstances) and use plain cheap washcloths instead. Rewashing them takes up very space in the laundry, and I don’t fill the garbage can with paper towels (which are unreasonably expensive).”
12. Avoiding impulse buys and invest wisely
Another user shared his rules for financial discipline. He said, “No impulse spending. Don’t be trendy. You don’t need to buy everything new. Get CDs, bonds, mutual funds over savings accounts. Decrease eating out.”
13. Own a home, don’t rent
This is a practical housing tip from a user. As he advised, “Own a home, don’t rent. For those that say they can’t afford it, lower your standards. My first house was in very rough shape. I slowly fixed it up and built equity.”
14. Don’t buy fireworks
A user shared this safe and budget-friendly way to enjoy fireworks: “Don’t buy fireworks. You can still enjoy other people’s fireworks.”
Another user shared a simple but important health tip. He commented, “Exercise every day. Poor health is expensive.”
Embracing Mindful Spending in the New Year
Remember the key takeaway: small changes can lead to big savings. Whether brewing your coffee at home, skipping trendy purchases, or making smart choices like home cooking over dining out, every little bit adds up. Embrace the mindset of mindful spending; it’s not just about saving money but also valuing what we have. Stay consistent, stay mindful, and watch your savings grow. Here’s to a prosperous and financially savvy new year for us all!
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