With the economy in the doldrums, and unemployment reaching highs not seen in decades, people are hurting all over Nigeria.
With reduced incomes comes the necessity to cut back and get by with less, to reduce, re-use and recycle the things we have.
While getting by with less is great, you don’t have to completely do away with everything. There are a lot of easy (and crazy!) ways to reduce your spending and save money every month especially when you have plans to start a new online business.
Today I thought I’d put together a nice long list of easy ways to save money every month on recurring expenses, on money leaks and on just about everything else. So let’s get started.
Save On Recurring Expenses
One of the first places people should be looking to save money are on the big recurring expenses that we all have every month. Let’s look at a few places you can save.
Try switching your internet service to another provider in order to take advantage of new subscriber deals or promotions. Switch from one internet type to another – DSL to cable or fibre-optic internet.
Switching can often get you great initial deals, and then you can hop providers to get another great deal when the promotion ends (sweet right?).
TV and entertainment:
There are a variety of ways to save on your TV and entertainment costs. First, you can switch cable providers from one to the other to get in on a promotional offer (StarTimes, GoTV and DSTV). You really do not have to pay for the premium bouquet. If that doesn’t work you can always cut the cord altogether, and save a ton by setting up a home entertainment system using streaming services like Netflix, Hulu, Iroko TV, Deezer, BoomPlay, Mobdro, etc,
Save On Money Leaks
Buying coffee on your way to work:
Eating out too much:
You don’t have to buy drinks at every opportunity, those things cost you a lot of money when you finally calculate how much you spend in a month, you will realise that money will be better spent on something more productive.
Buying brand names:
Buy less of things that spoil:
General Ways To Save
Here are some more ways to save that you may not have thought of.
Start a budget, stick to it:
This may seem like an obvious tip on how to save, but it’s something that not a ton of people do. Just keeping track of where your money is going has a tendency to help you realize a lot of areas that you can save.
Wash your own car:
Instead of going to the car wash and spending some extra bucks, you can just wash your own car!
Do your own maintenance:
If you’re handy with all things automotive, change your own oil to save on a trip to the mechanic. Maintain your own home appliances with help from the internet!
Stop a bad habit:
Are you a smoker? Quit! It’s better for your health and will save a ton of money. Drink lots of soft drinks? Stop! Drink more water instead.
This list is just the beginning. Saving money can really become a way of life if you want it to be. You just have to be creative, have a reason and a goal for why you’re trying to save, and think consciously about the decisions that you’re making.
The changes mentioned on this page may seem small when you look at them. The truth is, however, that the small changes listed here can be the basis of your financial security.
Have your own ways to save? Tell us what they are in the comments!
There are a lot of easy ways to reduce your spending and save money every month.