How can you save money by changing your lifestyle

When it comes to money, there are numerous ways you may spend it, and on a variety of things. You might be spending it on your basic needs such as groceries, rent, mortgage payments, credit card bills, and transportation, or luxuries such as restaurant memberships, dinners, gaming consoles, and other expensive gifts, etc.

You don’t have any idea about how often you’ll require money to meet an emergency or need to pay a monthly down payment. So, if you need to save a decent amount of money, then you should start saving early and make some strict lifestyle changes.

So, let’s get some information on how to save money by changing your lifestyle:

  1. Know yourself

Before you even begin to think about cutting costs, you should think about where all your money goes on a weekly basis and multiply that by four. It’s super important to get a clear picture of how much you spend on non-essential items. Keep an eye on your behavior throughout the week and note down the changes that need to be made. However, there are monthly expenditures too, which you may avoid.

  1. Live small

Just because you can afford rent on a 2 bedroom apartment doesn’t mean you should live there. Over the past 2 ½ years, I lived in a junior one-bedroom apartment with my partner, although we could afford a much bigger (and better) space. It’s surprising what you can adjust to once things become the norm.

  1. Start budgeting

You won’t be able to save your money until you know how much money you spend. A budget shouldn’t restrict you, it should free you. It allows you to spend a certain amount of money on whatever you want. A budget is a map that you get to design. There are infinite ways it can lead to your financial goal; the choice is yours to figure out what path to take. That’s how you may modify your lifestyle to save money from your wallet.

  1. Save on tax

Many companies can help you plan your tax savings in simple and convenient ways. You can start investing at your convenience. Check out the most tax-saving investment options:

  • Roth IRA
  • Traditional IRA
  • Employer-sponsored 401(k) plan
  • Health Savings Account (HSA)
  • A 529 account
  • U.S. Series I Savings Bonds
  1. Automate your savings

Initiate an automated savings system by transferring a fixed amount of money directly from your paycheck to your savings account. You can ask your bank to start the process. You may initiate this process for your investments and your retirement account. This way you may save money by changing your lifestyle and money habits.

  1. Save your changes

Most of the time we are handed chunks of change that we basically just throw into our pockets or into our bags. These coins add up over time. Make sure you gather all that money in a box and head down to an exchange service in town. They will happily take the coins off you, and give you bills in return. Money is money, even if you have 25 cents in your pocket. Go to the cashier, exchange it, and save it.

  1. Save on electricity

Small changes such as switching off the lights or keeping the water heater off while you brush your teeth can go a long way to help decrease your electric bill. What some people don’t know is that unplugging your devices when you aren’t using them also saves electricity. Before going to sleep, take a quick walk around the house and switch off all your devices and unplug them from the wall. You will notice a drop in your bill at the end of the month.

  1. Choose cash over credit cards

When you have actual cash in your wallet, you tend to spend less, since you become more aware of how much you’re spending every day. So, on the first day of every week, draw out the exact amount in cash that you want to spend for the week. This gives you a budget that you shouldn’t exceed.

  1. Don’t grocery shop while hungry

Grocery shopping, while you’re hungry is dangerous. You end up overspending and overestimating what you need. You’re also more likely to buy junk. Make sure you are full when you head to the grocery store because even a little hunger can lead to unhealthy decisions. Studies have also shown that hunger affects your non-grocery purchases, such as clothes and electronics. Our craving for food is so aggressive that it may affect other behaviors. So if you often engage in such hunger-shopping, you should control your impulses and modify your lifestyle to save money.

  1. Get rid of things

The less stuff you own, the more you realize that you don’t need a lot of physical things to live a good life. You may donate clothes, get rid of your old electronic stuff, and give books that you no longer require. You may also put your CDs and DVDs in a garage sale. You should also delete old files from your laptop and free some space, and remove all unnecessary apps on your phone. Get rid of all the useless junk. Trust me, saving this will save money


It’s never too late to take control of your spending habits. If you can slowly adapt to these lifestyle changes, you will be surprised to see how much money you can save.

author Valentina Wilson profile pic

By bestdebtconsolidation_admin on December 23, 2020

Valentina Wilson is a writer and blogger who specializes in personal finance and positive change and associated with BestDebtConsolidation. She has a master’s degree in financial journalism and seven years of experience in personal banking and believes that small behavioral changes are the key to achieving financial freedom.

Follow her on Linkedin: valentinailson