20 Money-Saving Life Hacks So Good, You’ll Regret Not Knowing Them Sooner

20 Life Hacks for Saving Money That Are So Good, You’ll Be Kicking …

1. Meal Planning & Prep

For those struggling to save money, the first expense you should reconsider is dining out. Preparing your meals at home can be a lot cheaper and healthier too. Plus, it might just turn into an enjoyable hobby! To help streamline this process, opt for weekly meal planning and prep.

Here’s an easy way to go about this: every weekend, take a few minutes to plan your meals for the week ahead. This doesn’t have to be an elaborate process – a simple list of lunch and dinner options will suffice. Based on this plan, make a shopping list of everything you’ll need.

The next step is meal prepping. Dedicate a few hours each week (perhaps on Sunday) to cook some of your planned meals in bulk. Store them in the refrigerator or freezer in portion-controlled containers, ready to heat up whenever required.

Consider this scenario:

Let’s say you usually spend €15 per meal dining out, and you eat out five times a week, totaling €75. With meal planning and prep, you can easily bring down this cost to around €3 per meal, reducing your weekly spending to just €15!

• Annual savings: €3,120 (based on saving €60 per week throughout 52 weeks)
• Feasibility: Medium (requires time investment for planning and cooking)
• Impact: High (significant monetary savings + health benefits)
• Ease of implementation: Medium (requires change of habits)
• Long-term benefits: High (promotes healthy eating habits)
• Creativity level: High (allows experimentation with different recipes)

2. Opt For DIY Solutions

If you’re spending a significant amount of money on professional services like house cleaning, decorating, or simple home maintenance tasks, consider switching to Do-It-Yourself (DIY) solutions. Not only can this save you a lot of money, but it can be fun and rewarding as well.

In today’s digital age, there are tons of resources online (especially on YouTube) that provide step-by-step guides on how to do pretty much anything by yourself. From painting your own walls to fixing a dripping tap; you’d be surprised at what you can learn and do!

Although some tasks may indeed require professional assistance, most can be done with a bit of elbow grease and the right guide. Plus, the best part about DIY is that once you have learned a particular skill, it’s yours for life.

Consider this scenario:

Assuming you spend around €50 per week on various professional services, changing over to DIY can bring down this cost significantly. Let’s be conservative and say you still need to occasionally hire someone, reducing your weekly spending by just €30—which would quickly add up in savings!

• Annual savings: €1,560 (based on saving €30 per week throughout 52 weeks)
• Feasibility: High (with guidance through online resources)
• Impact: Medium to high (depending on how many services are substituted by DIY)
• Ease of implementation: Medium (can take time to learn new skills)
• Long-term benefits: Very high (skills acquired for life)
• Creativity level: High (allows freedom to customize projects)

3. Buying Second-Hand

If you are spending a lot of money on brand new items, then buying second-hand is an option worth considering. It’s not just about clothes – you can find quality used furniture, electronics, appliances, and more.

Websites like eBay and apps such as Depop have made the process of finding and buying used goods easier and way more reliable than ever before. Not only will you save money through this method, but it’s also more environmentally friendly.

It’s possible to find well-cared-for second-hand items that look and function as good as new. In fact, sometimes, you might be lucky enough to land barely used items or even new ones with tags still attached.

Consider this scenario:

Imagine you’re furnishing your apartment and need a dining table. A brand new one costs around €300, but you find a similar second-hand one in excellent condition for just €100, saving you €200 right off the bat.

• Annual savings: Variable (depends on frequency of purchases and cost differential)
• Feasibility: High (with numerous online platforms available)
• Impact: Medium (considerable savings per purchase)
• Ease of implementation: High (convenient shopping from home)
• Long-term benefits: Medium (savings are made per purchase)
• Creativity level: Low to medium (there’s some randomness involved in what’s available)

4. Eliminating Wasteful Subscriptions

Are you paying for a gym membership that you rarely use? Or a streaming subscription that you barely watch? If so, it’s time to reassess these subscriptions and reevaluate how much value they truly offer you.

It’s easier than ever to sign up for various services, but it’s also easy to forget about them, especially if their cost is automatically deducted from your account each month. Take some time to go through your monthly expenses and define which ones are worth keeping.

Cancelling unneeded subscriptions can add up significant savings over the course of a year. Remember, every bit counts when you’re trying to save money – no matter how small the amount seems at first.

Consider this scenario:

After going over your bills, you find out you’re spending €50 on unused or seldom used subscriptions per month. By cancelling them, you’re saving €600 annually!

• Annual savings: €600 (based on eliminating €50 worth of subscriptions per month)
• Feasibility: High (most subscriptions are easy to cancel online)
• Impact: Medium (dependent on the number of unwanted subscriptions)
• Ease of implementation: High (requires just a quick review of expenses)
• Long-term benefits: Low to medium (if new unnecessary subscriptions are not added)
• Creativity level: Low (this is more about creating good financial habits)

5. Shopping Sales and Discounts

One brilliant and simple way to save money is to always look out for sales and discounts when shopping. Whether it’s grocery shopping, clothing, or even appliances, retailers regularly have discount seasons or clearance sales, where you can score some great deals.

It’s about being strategic in your purchasing behavior. Do you really need that new pair of shoes right now or can it wait till the seasonal sales begin? Being a bit patient and controlling that impulse to buy immediately can reap dividends in terms of savings.

Besides, many retailers offer loyalty programs where regular buyers earn points for each purchase, which can then be redeemed for discounts. It’s worth signing up for these if you frequent particular stores.

Consider this scenario:

Let’s say you need a new winter coat, and it’s currently priced at €200. If you wait until an end-of-season sale, you could get it for 50% off, translating to savings of €100.

• Annual savings: Variable (dependent on purchases and available discounts)
• Feasibility: High (sales are common in most retail sectors)
• Impact: Medium to high (discounts can substantially reduce the cost of needed items)
• Ease of implementation: Medium (needs strategic buying and patience)
• Long-term benefits: High (strategic buying can be a permanent habit)
• Creativity level: Low (mainly requires disciplined shopping habits)

6. Reducing Energy Costs

Utility bills are another area where you can save money with just a few simple tweaks. By cultivating energy-efficient habits, such as turning lights off when not in use or using natural sunlight instead of electricity during the day, you can cut down your energy consumption significantly.

You can also invest in energy-efficient appliances to replace older ones, as they can save you a lot over time. Besides, implementing green energy solutions, like solar panels, could result in substantial long-term savings.

The beauty of reducing energy costs is that it helps you save money and protect the environment at the same time. It’s a win-win situation!

Consider this scenario:

Suppose your average monthly electricity bill comes up to €100. By adopting energy-saving habits and upgrading to energy-efficient appliances, you can potentially reduce your bill by 25%, saving you €25 each month, or €300 annually.

• Annual savings: €300 (based on a 25% reduction in electricity bills)
• Feasibility: High (easy to adopt energy-saving habits)
• Impact: Medium (notable savings over time)
• Ease of implementation: High (simple changes in habits)
• Long-term benefits: High (perpetual savings + environmental benefits)
• Creativity level: Low (requires following standard energy-saving tips)

Table Summary of Life Hacks for Saving Money