People of any lifestyle have their own life goals that they want to achieve. And for many, saving money is the key to getting that ideal life they’ve been planning to live. Depending on what you value and your current lifestyle, you are likely to spend less or more on things.
Some choose to completely turn their lifestyle choices upside down and practice frugality. For others, simple actions such as being intentional with spending and prioritizing what matters the most in their lives are the best ways to save for their future.
In this guide, we won’t necessarily advise you to completely change the way you live your life. But instead, we’ll give you small habits that can improve your finances and the quality of your life big time.
1. Stay healthy and fit
Believe it or not, living a healthy lifestyle is the key to saving more money. For one, ditching bad habits like smoking can eliminate hefty expenses. Let’s say you smoke a pack every day, costing you $7. In a year, that’s about $2,500, which is a huge amount of money. On top of that, cigarettes are proven to increase the risk of various health conditions such as heart disease and cancer, which you surely don’t want to deal with.
Including exercise in your daily routine helps heighten energy, lift mood, and improve sleep. The best part? It can lead to a longer life too! Engaging in regular physical activities can do wonders for your body and bank account. In fact, according to Mayo Clinic, regular exercise can also minimize risks of chronic heart conditions like diabetes, high blood pressure, and heart disease, all of which require exhausting and costly treatments.
2. Pay yourself first
This technique focuses on saving for long-term goals or needs first before spending on anything else. It can be setting aside money for your car loan, home insurance, emergency fund, travel, life insurance, retirement, investments, or any big purchases related to your lifestyle. Is your abode a mobile or manufactured home? Then you should get manufactured home coverage because protecting your home is essential.
Are you a beauty junkie? Then you might want to put away money for your makeup collection. Do you prioritize your health? Then pay for your health savings account first. However, be sure that you are still considering your mandatory expenses before setting your monthly savings. The last thing you want to happen is to get your electricity or water cut off because you have no money left to spend.
3. Grocery shop on a full stomach
Grocery shopping is surely a fun thing to do. But if you’re always going overboard with your budget, you’re literally cutting down budgets for your other needs and wants. It’s a practical habit to go shopping on a full stomach to avoid unnecessary expenses, from buying too many sweets or junk food. Or tossing whatever looks delicious into your cart. Before heading to the store, eat a healthy snack or a full meal. This simple daily life habit can effectively stop your out-of-control cravings for packaged or processed food, which your body and pocket will thank you for.
4. Have a no spending month
This lifestyle change can be quite difficult for avid shoppers, but it can help you save hundreds of dollars. A no-spending month does not include your essentials such as paying housing, grocery, car insurance, or utility bills. This is about challenging yourself from buying your favorite latte at the local coffee shop or getting a new item for your stationery collection. Anything that isn’t a daily essential is covered by this method.
5. Eat those leftovers
According to several studies, consumers waste around 20% of the food they purchase, which is like wasting one out of five grocery bags you have. We get it; leftovers are not exciting to eat compared to freshly cooked meals. Think about this, eating leftovers isn’t just pocket-friendly, but also an eco-friendly move.
Plan your meals for the week ahead of time and create leftovers purposely. For instance, if you prepare twice veggies for your breakfast, you can save some for pasta or soup for dinner. It’s also essential to store your extras smartly. Use glass storage containers so you can readily see what’s inside and not forget about your leftovers. Plus, they’re also sustainable and reusable. This lifestyle change might be a huge step for some, but it’s definitely worth it.
Living life the way we want can be hard to maintain without the right money habits. Sure, money can’t buy you happiness, but it can buy you financial freedom and the ability to sustain the lifestyle that you love and enjoy. Regardless of your situation, don’t forget to ask yourself how much you are willing to change your lifestyle to achieve your goals. Finding the answer to that can lead to enormous satisfaction.