6 Lifestyle Hacks to Save More Money

Our society today is more defined by a spending culture than saving culture simply because people are full of excuses as to why they do not save.

Some will blame the mortgage payment, insufficient salary, family responsibility and many other things, but the main secret to leading a saving life is the realization that no amount of money will ever be enough to save.

The fact that you are no longer paying school fees, got a salary increment or you just paid off your mortgage doesn’t mean you will have enough to start saving. Saving starts with the little you already have. It starts as a way of think, develops into a habit and finally becomes your lifestyle.

Why Is Saving So Important?

One of the major benefits of a saving lifestyle is the freedom from debts. When we run to debts as an option to resolve our current financial crisis, we add more expenses in the form of interest but what if you had saved for such a crisis. You will have a debt free life and the extra debt expenses mean more money to save.

Saving is also a step towards wealth. Most of the highly admired rich people started at a very low level but accumulated their savings, invested their savings, and today they are enjoying the fruits.

Another benefit is that it prepares you for a healthier and better life after retirement, and gives you piece of mind as you can enjoy life without the worries of a rainy day.

However, saving is a process but with our saving app you can learn to manage and control your money to maintain a saving culture.

The following six tips can be your starting point.

The 6 Lifestyle Tips to Help you Save More

The most direct formula to getting rich is simply spending less and saving more. This is not as easy as you may think. It requires an overall lifestyle audit and changes.

Some of the lifestyle hacks to improve your saving habit include:

1# – Track Your Expenditure 

List down all your expenses and closely analyse them. Chances are you will find something that you don’t even realise you spend on and others which are completely unnecessary. Emma can come in handy in this exercise, but a spreadsheet or a simple notebook would work as well.

#2 – Always Budget 

Most people feel that they don’t have enough money simply because they do not budget. In most cases people make the mistake of saving only the remainder after spending. Savings should be part of the budget. The 50% – basic needs, 30% wants and debts and 20% saving formula works.

#3 – Research Before Spending 

You could be paying more for a product or service, while you can get a better deal. Take your time to compare prices online, in the local stores and get the product that gives you more value for less. This will spare you extra coins for your saving account.

#4 – Whenever Possible DIY 

There are many things that you can do yourself instead of paying someone else to do it. You can tailor your clothes, paint your house, and repair your drainage system to name but a few. If you can do it, don’t pay for it!

#5 – Control Your Credit Spending 

Most credit cards entice you to spend more. If you cannot control overspending, it is advisable to go cash, only if it helps.

#6 – Seal All Money Leaks 

Optimize your expenditure by cutting down unnecessary costs. For instance, ditching your car will not only save you fuel and maintenance costs, but also improve your health which means less medical expenses.

With a modern saving mobile app, such as Emma, you can make your saving experience more fun and enjoyable.

Edoardo Moreni

I am the co-founder of Emma. I was born and raised in Rome, but went to Uni of Manchester, where I got my MEng in Computer Science. As a true Italian I love sushi and ramen. ;)