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5 Simple Ways to Save Money This Year

If we were to guess that right about now your mind is in goal-setting mode, would we be right? From committing to regular gym sessions to finding more time to meditate, this is the time we typically set our resolutions for the year. 

But what about saving money? Is that one on your list? We think it should be, because when you see some of the simple ways you can save this year, you’ll be all in!

  1. APPLY THE 30 DAY RULE 

Not the patient type? Well, it might be time to keep your impulse buying in check. The 30 Day Rule basically suggests you wait 30 days to buy something from the time you see it. If you still want it after 30 days, then chances are it’s something you really want and is worth investing in. If you don’t, you just saved yourself some cash. It works on the theory that there is a lot of emotion around purchases, but when we wait an extended period of time, we remove those emotions and see more clearly whether the item is truly something we need or not. 

LonoLife tip: Try taking this practice one step further. If you decide NOT to buy the item 30 days later, invest the money you would have spent on it into a “Fun Fund”. At the end of the year treat yourself to a special experience, courtesy of all the impulse purchases you never made!

  1. TRACK SUBSCRIPTIONS

Tell us we aren’t the only ones who don’t know how many streaming services we are even signed up for! It’s so easy to subscribe-then-forget. Before you know it you could have three different music streaming subscriptions, a phone scanning app subscription you used once, a language learning app you’ve forgotten about, and a monthly payment for an exercise app that serves no other purpose than to make you feel guilty. Just thinking about it makes you want to start doing some investigative work, right? Well, guess what… There’s an app for that! The following services will identify, track, and manage all your subscriptions, so you can stop wasting money you didn’t even know you were spending.

⇨Truebill

⇨Trim

⇨Bobby

⇨Subby

LonoLife tip: You can do this yourself without paying for an app. Simply review your credit card and bank statements to identify subscriptions, or go to the settings on your iPhone or the Google Play Store to see auto-paid app-based subscriptions and cancel unused memberships.

  1. MEAL PLAN

Yes, that old chestnut. There’s a reason this tip is included in every money saving list, and it’s because it just makes sense. Food is one of our biggest expenses, and eating out or ordering in can quickly add up. Also, going to the grocery store without a plan can lead to thrown out food. Meal planning is quicker and easier than you think. Simply check out some recipes online that are easy to make, create a menu for the week, and identify the ingredients you will need for each meal. Then build your grocery list around your menu.

LonoLife tip: Save even more money once you have your grocery list ready by downloading The Krazy Coupon Lady app. You’ll find real-time sales and savings at all the big name stores. Score!

  1. WALK PAST THE COFFEE SHOP 

Did you know that on average, coffee drinkers in the US spend approximately $2000 a year on coffee?* That’s an awful lot of money you’re handing over to your local coffee shop. While there’s certainly joy to be had in grabbing a coffee with a friend, when it becomes a daily habit it can really make a dent in your savings’ plans. What’s more, it’s so easy to brew a great cup of coffee at home. Whether you’re a pour-over kind of person or prefer a French Press (or even an Aeropress), it only takes a few minutes to make your own. You can even take your at-home coffee to the next level by adding collagen or MCT oil to a cuppa for a range of added health benefits. We’ve made that easy for you with our LonoLife Protein Coffee with Collagen. Simply open the sachet, add hot water, and enjoy.

LonoLife tip: Try switching out your coffee for bone broth here and there for a protein-packed, nutritious hot drink. These single serve stick packs make it super easy and portable – all you need to do it add hot water!

  1. ANALYZE YOUR UTILITY SAVINGS

When it comes to monthly bills, our utilities are up there with some of our highest outgoings. But while you might think these are fixed costs, there are actually plenty of ways to lower them with a little effort. Here are some of our favorite ideas:
⇨ Lower your thermostat by 10F for savings of between 3-5 percent in energy costs.

⇨ Wash your clothes on the cold setting. Seriously, see if it really makes much difference!

⇨ Switch to a more energy efficient showerhead (look for WaterSense labeled showerheads).

⇨ Air dry your clothes. You’ll get the added benefit of extending the life of your clothes too!

⇨ Install smart power strips (like this one). These assess your electricity usage and automatically disable things that are not required at that moment.

Ready to try these five money-saving tips? Then the only question that remains is this: what will you do with all that money you’re going to save?

*(https://amerisleep.com/blog/caffeine-kick/)

 

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