8 Money-Saving Tips That Actually Work

1. Follow a budget

A good starting point is to add up all of your income (after taxes) and subtract how much you spend each month.

2. Draw out a set amount of cash each week

One way to combat this is to set a weekly budget and avoid using credit cards; this way, you'll become aware of exactly how much you're spending and where you can save.

3. Stop going food shopping on an empty stomach

This is because hunger increases our desire to acquire things. So eat first, or you'll end up buying more than you need.

4. Stop buying fresh when frozen is just as good

Frozen food, particularly vegetables and more nutritious items, lasts longer and is often less expensive than fresh food.

5. Buy fewer takeouts

Average American spends $1,200 per year on fast food. Simply halving your fast food consumption will save you hundreds of dollars.

6. And that includes lunches

The average American spends $936 per year on lunch. Making your own lunches will save you a lot of money.

7. …and coffee

Purchase a thermal coffee mug and make coffee at home before leaving the house.

8. Stop paying to get to work when you could walk or cycle

When you drive or take public transportation to work instead of cycling or walking, you lose money and miss out on a great way to get fit without a gym membership.