No matter the salary you make or your overall household income, chances are that saving comes to your mind frequently. After all, you never know when a rainy day might come and you will have to use some of your savings fund to stay afloat. This is where savings apps and budget planning come in handy, especially with 2019 well underway.
According to statistics published by CNBC, 57% of Americans have less than $1000 in their bank accounts with many of them claiming to be in debt due to one reason or another. Saving funds quickly became a necessity due to the high-speed modern world we live in. With that in mind, let’s take a look at several online money-saving tips which can help you make ends meet in 2019 and further down the line.
- Start a consistent savings habit: little and often is better than a lump sum
The first thing you should know about savings is that it doesn’t involve not eating or not going out ever again. Consistent saving is a great idea, especially at first. You can put small lumps of change aside and make a habit out of it.
Pat Fredshaw, head of the content department at Essay Supply had this to say on the matter: “We have a small plate next to the front door and we all try to put a few coins into it on a daily basis. At the end of the month, we tally up what we’ve gathered and put it into the family piggy-bank, satisfied with our spending restraint.”
- Buy in bulk: make use of discounts on bulk buys
Buying goods in bulk is much cheaper than buying a single product at a time. This is especially true for supermarket goods and general household necessities. You can save a lot of money each month by visiting the local market once or twice a month and buying goods in bulk. The same logic can be applied to second-hand clothing, fresh fruit, and vegetables as well as other expendable goods.
- Sign up to rewards cards: make money for being a loyal customer
Reward cards can provide you not only with discounts but free goods altogether. Retail establishments such as Starbucks and McDonald’s offer very tempting loyalty programs for recurring customers.
Veronica Wright, a CEO of resumescentre.com was quoted recently: “I’ve made sure that our company offers loyalty discounts and incentives for recurring clients to come back for more services. This has created a great second-hand revenue source for us, making the loyalty program’s existence a no-brainer.”
Collect stamps, points or whatever your favorite store has on offer on a regular basis. Reward cards can provide you with a nice plan B in terms of non-monetary savings. Cash in on your loyalty by using the reward cards in smart ways, especially when you are short on funds.
- Add a budgeting app on your phone: no more impulse buys
Thanks to the online revolution of the previous few years in terms of mobile application development, budgeting apps have become commonplace. Apps such as Mint and Wally are perfectly suited for small-time savings management as well as to help you keep track of debts and payments.
These apps are perfectly suited for impulse buyers and individuals who generally don’t think twice before buying something they like at first glance. Make sure to install an app of your choice and use it on a regular basis to get a hold of your spending and saving habits quickly.
- Monthly vs. annual charges: make use of lower annual charges for services
On-demand services such as Netflix or Lynda can become notorious if you want to keep track of your spending. They are particularly problematic if your savings take a hit because of a monthly fee or two you have pending. This can be avoided by using services which offer annual flat fees for their clients’ convenience.
You will not only breathe easier by paying once for a year in advance but you will also save a ton of money in doing so. This is because services often offer very lucrative discounts for customers who commit to them for extended periods.
- Purchase last year’s range: pay less for clothes that you still love
Depending on your fashion sense and the social circles you frequent, you can skip new clothing lines and opt for last year’s models. After all, no one will force you to wear the latest and greatest fashion lines, especially with money-saving troubles looming over you.
As we’ve previously mentioned, you can also check out local second-hand shops and discover very cool and well-kept clothing for a fraction of the price. Be a patient customer when it comes to clothing and apparel – your wallet will thank you for it immensely.
- Monitor flash sales: add big purchases and holidays to your cart, and signup for alerts
Flash sales can be great money-savers depending on what websites you like to buy from. Popular sales website such as Amazon feature flash deals, discounts, bulk deals, and last-minute sales campaigns almost daily.
Jessica Fender, a chief marketing officer at Online writers rating spoke on the matter: “We realize that flash deals and one-time discounts work wonders for online customers. It’s why we have very appealing, affordable and quality services on offer very frequently at competitive prices.”
Be sure to follow several websites in whichever item category you like and make sure to subscribe to email alerts. While you may not have your dream accessory or house appliance tomorrow, you might have it a week or two down the line for chunk change compared to the original price.
- Shop on comparison sites: save money on holidays, phones, etc.
Lastly, you should never make an online purchase without considering a comparison with other websites. Platforms such as Google Shopping are equipped to showcase competitive price ranges for items you may be interested in.
You can use this data to make a more informed and affordable decision when it comes to saving some money while shopping. Comparison websites show their true value during holiday sales seasons so make sure to keep checking for new offers every now and then.
Combining these tips in 2019 and beyond should leave you with a hefty savings fund to look forward to. Think twice before making any purchase decision online, especially with so many competing websites and storefronts out there.
Before you know it, you will have a personal money-saving system to fall back on any time you become short on funds. Spend less today so that you can feel safer with your monetary wellbeing tomorrow. And don’t forget to check out some of our amazing Amazon deals while you are here at VIPON !
Written by James Daily