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Between high prices and uncertainty about the future of the economy, many of us are thinking about ways to cut our costs. And whether you free up cash to cover your basic bills, build up your savings, or take that vacation you really need, tightening your belt is empowering. But finding the time or energy to budget and hunt for deals can be difficult, right? Thankfully, there are some quick and easy ways to cut back. Here are five things to do to keep your spending in check — even if you feel too busy to budget: 1. Make it a game. Do you love Candy Crush Saga or watching Jeopardy? With some reframing, spending less money can be a fun mental exercise that taps into your competitive side and requires no time at all. Make your plan in the shower or while you’re exercising. Challenge yourself to forgo one higher-cost item you usually indulge in (a high-end organic item at the grocery store or an expensive hair conditioner.) Or, consider what you love about that discretionary spend and try a similar experience for less. If it’s going out with friends, could you trade in a cocktail for a well drink? (Maybe taste-test for a favorite?) Other ideas:• Try a pantry challenge: How long can you get by without buying any new non-perishable foods?
• Skip the small toy reward every time you take your (hopefully cooperative) toddler to Walmart.
• Take the subway or bus instead of using Lyft. Maybe set a point value for each success and see if you can best your score each month. Or challenge your partner to a contest: Who can get more points by the end of the week? 2. Use those free loyalty programs. Signing up for a free loyalty program can be a no-brainer, depending on your willingness to give some basic personal information. Most grocery stores simply require signing up once with your name and phone number and/or email address. After that, entering your phone number (or having the cashier scan a bar code in your e-wallet or on your keychain,) gets you all the sale prices and/or access to digital coupons or other rewards. Same goes for gas stations, pharmacy chains, theaters, pet stores, and more. Many fast-food chains and retailers also offer online/in-app loyalty programs. And then there are miles and point programs for airlines, hotels, and clothing retailers, which you can usually belong to whether you have a branded credit card with them or not. The key is to choose free ones that are hassle-free. You might even get a decent-sized discount just for signing up. 3. Hit ‘pause.’ Many of us have memberships or subscriptions we don’t use enough to justify spending money on, at least not in today’s economy. Whether it’s a streaming service, an app, a gym or a newspaper, if you don’t want the hassle of cancelling the membership (and perhaps re-establishing it later,) pause or freeze it for a while to see how much you miss it. Just make sure to put the cancel-by date on your calendar before the pause is scheduled to lift. 4. Maximize your weekends (or work-free time.) If you’re like a lot of us, there’s very little time during the workweek — even to think. Use the weekend or your day off to plan ahead (hopefully after unwinding) and be thoughtful about your expenses.
• Plan and prep meals in advance to cut back on eating out on worknights. This can be making freezer-to-oven casseroles or just getting your produce washed and cut for weeknight meals. Whatever it takes to cut down on last-minute takeout.
• Look into what you can borrow from your local library besides books. You’d be surprised by all the stuff some public libraries loan out – kitchen tools, an Xbox, tennis racquets, snowshoes, and musical instruments to name a few. You’ll have to return the items, but given how many times you only end up using something once or twice, it’s worth considering whether you can avoid an expensive Amazon purchase. If you’re not a library member, signing up usually only takes a minute.
• Multi-task. It doesn’t take more time to do two things at once. So if you’ve got a weekend full of ferrying your kids around, group your errands with their rides to save on gas. If you’re waiting around for practice to end, make a list of non-perishable items you can buy in bulk. 5. Ask about discounts. Discounts apply to more than just seniors. When you’re scoping out entertainment or other activities — movies, museums, amusement parks or even national parks — check to see if you qualify for discounted admission rates because of your job, where you live, or anything else. Same goes for restaurants, retailers, airlines and hotel chains. You never know when being a veteran or servicemember, a student or teacher, or living in a specific city or county could save you money. But you have to ask.
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