hey everyone my name is bola shokunvi i'm the founder and ceo of clever girl finance and i'm also the author of the clever girl finance book series welcome to clever girl finance tv so we could all do with some ways to save more money each month i mean who doesn't want to save more money and so i have put together 17 tips that you can leverage to find ways to save more money each month so grab your pen and your notebook and let's get into these 17 tips number one you want to get organized right
so many people make late bill payments or forget to pay bills because they were not organized their bills were disorganized and paying one late fee paying one overdraft fee is one fee too many so create a plan to organize your bills to organize your transactions so that you can avoid these late payments and save yourself some money number two switch insurance companies so once a year i shop around to see if there are better options for the same coverage of insurance that i have especially when it comes to auto insurance so you can do the
same thing and determine are there any opportunities for you to save money by switching insurance companies number three cancel some of those subscriptions this is the day and age of the subscription mania there are so many things to subscribe to from streaming services to just all kinds of services and so those costs really do add up at the end of each month if you were to sit down and add up those twenty dollars thirty dollars fifty dollars you know streaming fitness uh food services all kinds of services they add up to a ton of money
and so take a good hard look at what you're subscribed to right now do you actually use those services and if you don't now is a great time to cancel them and put that money towards your debt payoff or towards your savings goals number four if you are paying down debt pay more than the minimum on your debt to save on interest and saving money on interest can save you thousands of dollars over the course of the life of your loan and so the way you do this is by paying more than the minimum amount
of money required each month on that debt to minimize how much interest gets compounded the next month based on those extra payments that you make so make those extra payments build those extra payments into your budget and just put it towards your debt number five paying cash yes when you spend cash you are still spending money but psychology of spending cash makes us more mindful of giving up those dollars because they are tangible than if we're just swiping a card or paying online so when you pay in cash you're more likely to be mindful of
how you spend your money because you don't want to see it dwindle out of your wallet so that's one way that you can save more money each month number six skip buying soda and yes i know it can be hard for my soda lovers out there i'm a coke zero girl but drinking more water is actually better for your health i'm telling myself this right now and spending less money on soda and soft drinks and juices in your grocery budget can actually help you save money on those grocery budgets and put that money towards something
else you want to buy at the store or towards your savings and so soda other items that may not be as healthy for you is something that you can think about cutting back in your grocery budget to save more money each month number seven work out at home and as gyms are starting to reopen right now people are back to the gym um those gyms actually cost a good amount of money especially when you look at the cost of the annual membership so pull out your yoga mat go outside if the weather is great and
work out at home and you'll find that you can save a little bit more money as well number eight save money on prescriptions and you can do this by leveraging a prescription saving service where you upload or provide your prescription details and they give you your medicines at a discounted rate sometimes very heavily discounted a great example of this is good rx number nine use a shopping list listen we've all been to the grocery store without a list and guess what happens well to me anyway i come home as the proud owner of al 16.
i'm buying all kinds of groceries i don't need i don't want and they end up in the trash uneaten so it's a great idea to just prioritize going to the store with a list if you find yourself in the parking lot of the store with no lists get on your phone write the list before you go into the store and this will save you a ton of money by the way if you are enjoying this video i'd love for you to hit the like button and subscribe to this channel tell all your best girlfriends about
clever finance and head on over to instagram to follow us there at clevergirlfinance we have a ton of fun also stop by clevergirlfinance.com to check out our over 30 plus completely free courses okay let's get back to these tips number 10 buy in bulk buying in bulk can actually save you a good amount of money however you should only buy in bulk if you know that you're going to use or eat the items and avoid buying perishable goods that you know you may not be able to finish in time before they go bad in bulk
it's a good idea to buy your non-perishable items and your staples in bulk to save money number eleven meal prep meal prepping is a great way to save money because you plan out your meals and you're able to stock them in the fridge or the freezer and just pull them out when you need them and this also helps eliminating the temptation to want to eat out all the time number 12 declutter so we all have things in our closets and our kitchens and our garages that maybe we don't use anymore but could earn us some
money if we put them on places like poshmark or facebook marketplace or even ebay to bring some cash in so think about areas in your home that you can declutter to maybe sell or even donate and save some money number 13 automate your finances especially when it comes to paying your bills and to saving money having those automatic transfers go to your savings account helps eliminate the temptation to spend money that you could actually be saving and this in turn will save you money number 14 start couponing or at least using some coupons i really
admire the coupon queens out there who know how to do this professionally i am not one of them but i love a good coupon and i try to find coupons before i go to the store so so there are tons of sites that make coupons available like honey retailmenot rakuten so i always try to look for a site that may potentially have a coupon for me before i spend my money number 15 downsize your living space so if you are renting an apartment and your lease is about to end this is a great time to
maybe find a cheaper or smaller space that will allow you to save money alternatively you can house hack by getting a roommate and saving their portion of the rent towards your bills towards paying on debt or towards saving or investing also by downsizing your living space it means like i mentioned cheaper rent but also cheaper utilities and general household maintenance costs number 16 in line with downsizing your living space you want to think about reducing your mortgage payments and a really simple way to do this is to house hack by having a roommate or having
people live with you that can share the cost of that mortgage and alternatively you can also look into refinancing your mortgage to get a better lower interest rate which in turn can save you tens of thousands of dollars over the life of your mortgage and right now in july of 2021 august of 2021 interest rates are super low so you might want to explore your options in terms of refinancing to make sure if it makes sense for you and if it will actually save you money after the associated costs to reduce your mortgage payments and
number 17 shop pre-owned or second-hand so if you have a list of things that you're planning to buy for yourself or for your home explore the pre-owned market first because you can find a ton of great deals for example baby strollers accessories like handbags and even some gently used or brand new clothing items that people are selling because they never actually use them in the first place so finding ways to save more money each month is all about helping you to accelerate being able to achieve your financial goals whether it's paying off debt whether it's
saving whether it's investing or whether it's planning for a trip or a vacation with your family that could be your goal and that's perfectly fine but the whole idea of saving that money finding ways to save is so that you can achieve those things that you want for yourself so i'd love to know what ways do you save money or try to save money each month leave a comment below if you have enjoyed watching this video please hit the like button and subscribe to this channel and tell all your best girlfriends about cleveroal finance and
then head on over to instagram at clevergirlfinance to follow us there we have a ton of fun engaging there and be sure to stop by the clevergirlfinance.com website we have over 30 plus completely free courses and 40 plus completely free worksheets they are free all to help you as you work on achieving your financial goals thank you guys for tuning in i will talk to you on the next episode [Music]
