Most people don’t have any savings and literally live paycheck to paycheck. I understand there are situations when this is just the maximum and there’s nothing one could do. Yet, there are quite a lot of ways to save money on things. In a recent blog post where we talked about emergency funds, I shared with you one way I save money. In this blog post, I’m not going to tell you to quit smoking or cut from your expensive Starbucks bill. Instead, I will share with you how my partner and I save money from simpler things that we deal with daily.
I live in a country where not having cash may sometimes force you to go for a 2-3 blocks worth of a walk to the ATM. Still, I rarely have any cash with me, instead I pay with my debit card wherever I can. I also almost never have spare change in me. The reason behind that is rather simple: my wallet has no compartment for spare change. I love minimalistic leather wallets! They are great, because they don’t take any space in the pocket of my trousers/jacket/blazer. Mine has only 4 compartments for cards and I put cash in one of them.
You may ask what I do with the spare change whenever I get some?
It’s rather simple, to be honest. I split it taking into account the value of the coins. The three with the highest value (2.00, 1.00, and 0.50) I put in a piggy bank. Then, the two with the lower (0.20 and 0.10) value I give to my partner. She spends them in the grocery store. The rest are with the lowest value and we also store them, but in another box. This is how I deal with spare change and I never miss having some, because in most cases I still can pay with my debit card. If I can’t, then I’ll have to use the cash that I have.
Saved money from spare change for 1 year: 700 Euros!
Here’s the nicest part. The spare change we earned for 1 year from the highest value coins is worth of 700 Euros! Using it, at the end of last year we bought plane tickets to Thailand. That trip might not happen because we planned it for November 2020 and with Covid19 around nothing is certain, but hey… Using this savings method, we nailed almost a quarter of the expenses on a trip which would cost us probably a bit shy of 3k Euros. I’d say this is quite impressive because it feels like these are free money! The spare change with the lowest value we cash out in a nearby grocery store once a year. Thanks to it we may buy a significant portion of the groceries we need for a full week of cooking at home.
Another way I save money is by figuring out how not to buy stuff I buy every day.
Like water bottles for example. We all buy them when we’re outside, because we are thirsty. I buy them, because when I’m at the gym, I am thirsty. A water bottle costs about 0.75 Euros. 5 sessions/week makes 3.75 Euros per week in water bottles. For a month, this equals to a total of 15 Euros. I know it’s not much, but that’s 180 Euros for the whole year. Imagine buying stocks with these. It would be nice, right?
So, this one is even easier. Buy a water bottle that you could reuse. I bought a rather expensive one because I don’t like the taste of metal or plastic from the cheaper ones. The one I got is made from borosilicate glass and costs about 35 Euros (I got it discounted). This means that I would need a bit more than 2 months worth of using it in order to offset its price. But there is more: this bottle has tea infuser. Using the tea infuser, I’m not only making tea at home or taking it to the office, but I’m also using it for a protein shaker. That’s right, the tea infuser helps me to mix the protein powder with the water. This way I’m also saving from buying every 3 months a plastic protein shaker that costs 10 Euros. If we add up everything, it appears that with an investment worth of 35 Euros, I’m saving 220 Euros/year!
Are you still having trouble saving money from things you bump into daily?