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Money is one of the biggest sources of stress and anxiety for millions of people across the globe. Not only can it bring down your mind and fill your mind with fears and doubts, but it can also affect your physical health, as those with money worries have been found to be more likely to struggle with sleep issues, blood pressure problems, and a heightened risk of various health problems.
It stands to reason, therefore, that a lot of people want to get their spending and finances under control however they can, but many struggle in terms of knowing where to start. Well, there are actually dozens of ways you can make little changes and start saving cash right away. Here are some useful saving tips to keep in mind.
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Scan Your Subscriptions
We're living in a subscription age, where studies and surveys have found that a large percentage of Americans have three or four streaming service subscriptions to pay for per month, as well as memberships and subscriptions for gyms, newspapers, websites, video games, and more.
It's easy to subscribe to these different services and fail to realize just how much you're spending in the long term, as each monthly fee seems relatively small, but they all add up over time. Scan through your subscriptions and see which ones you're actually using. Cancel those that don't offer genuine value.
Pay Less Attention to Brands
In this modern world, a lot of people focus more on the logo or branding on the products they buy than the actual quality or necessity of those products in the first place.
You can spend way more cash just to have a Nike tick or an Apple logo on your product when there are plenty of useful, affordable alternatives out there. It's also worth noting that there are plenty of counterfeit branded goods being sold too, so try to pay less attention to buying from big brands and focus on value instead.
Start Cooking More
Statistics show that the average American eats out around four to five times a week, on average. This might include lunches at a local cafe in the middle of your working day or big family meals at your favorite diner. Either way, it can be fun and convenient to visit restaurants and coffee shops, but it can also be very costly.
Eating out is a major source of expenditure for a lot of people, and you might be surprised to see just how much you spend on commercially prepared food each year. Buying your own ingredients and cooking at home more often will save you serious cash.
Make Your Home More Efficient
No matter what you do, there are some monthly costs you just can't get away from. You might be able to cancel your Netflix subscription, but you'll still have to pay your gas and electricity bills each month. Fortunately, there are plenty of ways to save on this.
You can invest in insulation to reduce heating costs, get your water heater checked to make sure it's running efficiently, lower the thermostat when you don't really need it to save some cash, and stop leaving heating and lighting on in rooms that you aren't actually using, for example.
Cut Down on Public Transport Costs
Another big source of spending for many Americans is public transport. In some situations, this can be unavoidable, and there are certain journeys you might only be able to make by train or bus. However, there are probably some ways you can start saving on your public transport costs.
Instead of relying on the subway to get around the city, for example, you might be able to walk or take a bike. You can also consider ridesharing with a friend or colleague to get around more cheaply, and if you use your own car, be sure to check online and compare insurance options to make sure you're not paying more than you need to.
Saving money might feel like a challenge, to begin with, but it's a gradual process, and you might be surprised to see how a few dollars saved here and there each week can really start to add up in the long-term. Right now, you might be spending on subscriptions you don't need or overpaying for goods and services you could get a lot cheaper elsewhere. Keep these tips in mind and start saving today to enjoy a less stressful life and a stronger financial future.