There is a lot of economic uncertainty in the U.S. right now. You might have already tried reducing your expenses and thinking about the most effective ways to save money. After you’ve chosen your two favorite streaming services and stopped buying expensive lattes, what other things can you do to save $100 every week?
Tips To Save $100 a Week
Here are some tips that can help you save an additional $100 every week.
Create a Budget
If you’re just starting to learn how to save money, it’s important to assess your budget. A budget is a simple list that shows how much money you earn and how much money you spend.
Invite Your Friends To Do Fun Things at Your Home
You can still have fun even if you cut non-essential expenses from your budget. If your friends are inviting you to an expensive happy hour, you can suggest having a movie or game night at your place instead.
Hosting a gathering can be costly, so don’t hesitate to ask your friends to bring their own drinks and suggest that everyone contributes money for pizza. You can bring the popcorn and a few other snacks. Even better, you can start a weekly tradition of gathering at someone’s house and take turns hosting.
Take a Staycation
If you don’t want to spend a lot of money on a vacation, you can think about having a staycation or going on a road trip to nearby places of interest. Discovering nearby places and participating in outdoor activities can be a wonderful way to unwind and save money.
Switch Cell Phone Providers
The cell phone industry is very competitive, with many carriers competing for your business and loyalty. Make phone calls to different providers to compare prices for a different plan. If you don’t use all the services provided by your current carrier, you might be paying more than necessary.
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Negotiate a Better Deal
Are you aware that it is possible to negotiate with credit card companies? If you consistently make payments on time, they may reduce your interest rate.
Of course, this only applies if you have a credit card balance with a high interest rate. If that’s true, you could potentially save more money by moving that debt to a credit card with a 0% interest rate for balance transfers. This would allow you to pay off the debt more quickly.
Shop Around for Home Heating Oil
As the seasons change, your household energy needs also change. In order to save money, compare prices from different providers when looking for utilities such as gas and oil. If you want to save money and be prepared for busy seasons, try buying your supplies when there are fewer people shopping.
Eliminate Unnecessary Subscriptions
According to a study by C + R Research, the average amount of money that Americans spend on subscriptions each month is $219. According to the survey, people believed that they only spent around $86 per month, which was considered to be a bad thing.
It’s likely that you have some subscriptions that you don’t use and may have forgotten about. One simple and effective way to save money is to use a service like Rocket Money. It helps you find and cancel subscriptions that you don’t need.
Cancel Your Gym Membership
Many people consider a gym membership to be one of the subscriptions they don’t need. If you regularly go to the gym multiple times a week and can’t imagine life without it, then definitely continue your membership.
If you haven’t been to the gym in months, you can consider exercising at home instead. You can save anywhere from $40 to $70 per month. If you find that the social aspects of going to a gym help you stay motivated to exercise, you can try inviting your friends to go biking or jogging with you. You can also look for free exercise classes in your community.