Want to save $500 this month? 7 simple ways

How great would it be to pocket an additional $500 this month? Now, I bet that sounds like a beautiful thing. Most of us would love to save money this month. And an extra $500 sounds amazing ANY time.

Of course, sometimes “saving money” can sound like having to go back to a ramen noodles budget.

BUT, believe it or not, you don’t need to sacrifice everything you love to make a big difference. You also don’t need to live on ramen and regret, either! (Because who really wants to relive those “starving student” college days, right?)

If you’re ready to save money this month (up to $500 or more!), read on and I’ll share my favorite ways to make that happen!

Here are 7 fun ways to save money this month!

1-Skip the grocery store for a week ($100-200/month)

We all know about insane grocery prices these days. But how can you go through a week without groceries? It’s actually a lot less scary than you think. Here are a few things you can do before you head out to buy more groceries…

1-Eat through the pantry. I spend around $100-125 a week on groceries per person. But I also have a pantry full of food. So I’m taking one week and eating through the pantry and the freezer. That way I’m making use of what I have before buying more.

2-Make it a party: If you are living the bachelorette/bachelor life, you may not have a full pantry. OR, maybe you’re just not that excited about what you’ve got in the pantry. If either of these is the case for you, ask your friends if they’d like to join you for a weekly potluck dinner. Food for a week and only cooking one meal, AND a chance to reconnect with friends IRL? Yes, please!

3-Involve your community: Let’s say all the food in your pantry is stuff you don’t eat that much. Why not trade with your community? Trade a bag of beans for stovetop stuffing? Why not!

4-Grow something. Now, I do know that gardening prices can get out of hand quickly. but I’m not talking building a 6X6 garden bed in your yard right away. Just start with some simple things you can buy once and grow over again. This can be potatoes, scallions, lettuce, celery, etc. It might not save you a lot right away, BUT it does make a difference over time. That and it’s also a lot of fun!

2-Look into those sneaky subscriptions ($20-$60/month)

Subscriptions can add up, and they will get ya! So take some time to review yours. Look at both your business and your personal spending, and see what you might need to cancel or pause. Do you need or want ALL those streaming services? How about what you’re spending for business?

What I see the most in my bookkeeping practice are those app fees! Even something as small as $2.99 four times a month can add up. So look at your subscriptions, and take action accordingly.

3-Declutter your life ($50-$200/month)

Just like with the Financial Spring Cleaning practice we’ve talked about before here on the blog, any time of year is a good time to clean out the closets–literally! So what aren’t you using? What is taking up emotional or physical space? It’s time to let it go. Have a yard sale, sell it on marketplace, bring it to the consignment shop. There are opportunities here that might surprise you! 🙂

4-Go on a spending freeze (up to $100/month).

How much do you spend each month on lifestyle items? Let’s say you spend around $400 a month (which is a little less than the average national amount). If you skipped even ONE week, you’d be up $100.

Even if you spend a lot less than $400 a month, a short-term spending freeze could free up some cash for you. (And EVERY little bit helps!)

5-Add in a free hobby to your routine ($75-$175/month)

Going out to eat is a lot of peoples favorite hobby (mine included!). But it’s not always sustainable. Finding a free or low-cost alternative can switch up your routine and give you some savings along the way. For example, you could go out for dessert only (skipping the dinner prices). You could also take a walk in the park, go play basketball/tennis/other favorite sport with friends, too, instead of a trip to your favorite restaurant.

6-Borrow before you buy ($50-$75/month)

Before you buy something new, ask yourself these questions:

• Could I borrow this from a friend, neighbor, or community group?
• Could I rent it short-term instead of buying right away?
• Could I get it free through Buy Nothing groups or Freecycle?

Give these alternatives to buying a try, and watch what happens.

7-Treasure hunt! ($100+)

Go on what I like to call a “Treasure Hunt.” Where do you have money sitting around? Do you have unused gift cards? Is your favorite coffee shop giving BOGOs? Have you racked up points at TJ Maxx? Do you have a jar of coins? Go find your “treasures” and prioritize them this month!

There you have it! 7 simple ways to save money this month that are both effective and fun. Give any or all of these tips a try and let me know how they work out for you!

Until next time…

Love, Light, and MONEY, Honey…

Kaylee

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