Some of the money-saving tips out there are a little... questionable. We once had a client come to us from a financial planner who told her to start fishing for her dinner every night (true story). With costs expected to rise (again), it's important to be honest with yourself about what changes you are willing to make.
In this blog post, you'll find our proven methods for easing the financial burden of rising costs without making yourself miserable. Try them out for yourself, and see what works for you!
Coach Claire's Tip: When trying to save money, you don't have to track spending all the time, but you do need to do a deep-dive at least once or twice to discover the areas of spending where you have opportunities to save money. If you want help, sign up with me with code SAVEMONEY for 20% off, and I'll take you through our Intentional Spending process, where our members find on average $340 a month in savings!
Curb Online Shopping
You will shop online again. You will get to do it many, many times in your life! Yay! But right now, if you are preparing for the struggle that is rising costs, it's a good idea to pull back on online shopping. To be clear, these tips are more about creating friction between you and marketing that is meant to get you shopping regularly, at the click of a button.
Here are our tips for creating space to be intentional about your online spending:
Tip #1: Delete Shopping Apps from Your Phone
Yeah, we're talking about Amazon (sorry not sorry). We've seen our members save THOUSANDS of dollars by giving up Amazon. Why? Amazon is an addictive platform. It's not about treating yourself, or deserving nice things, it's about the dopamine hit of wanting something and having it arrive that same day. Spend just one week with no shopping apps on your phone (Target, Temu, nothing!) and see how your mind relaxes about needing things for the house, or making small purchases that add up.
Tip #2: Unsubscribe!
Make it a habit to not just delete sales emails from stores and brands, but take the extra few seconds to find the Unsubscribe button, and hit it. The less times you get an alert on your phone to spend, the less times you are likely to spend! If you want or need to purchase something from your favorite stores and brands, you'll find them! And then you can probably resubscribe at that point to get a Welcome coupon. You're welcome!
Tip #3: Delete Stored Card Info
So you've deleted the app and unsubscribed from emails, now it's time to check in with how easy it is for you to make a purchase the next time you spend. Delete your saved card information from the websites you shop at, so that when you go to make a purchase, you add a few important moments to the decision-making process. Sometimes the time it takes to run downstairs and get your wallet out is just enough to remember that this is an impulsive or emotional purchase that will add more stress to your life than joy!
Save Money on Food
We all need food, there's no way around it. Purchasing food that makes you feel good is an amazing way to take care of yourself - and, if we need to save money, we can get super intentional about when we buy food, where we buy it, and what we buy.
Tip #1: Plan Your Meals
Sometimes our coaches feel like nutritionists for all the times we talk to our Bolder members about food cooking / buying / meal planning. When we go through our intentional spending process to see where we can reduce expenses, we ask members to pay attention to when they are spending more on food. It's often when they are too busy to cook, or want something comforting right away. We work on developing the habit of planning ahead for meals and curbing stress that leads to the need for fast, comforting food in the first place. Make a list of what you want to eat throughout the week, and cook ahead on a day off work. This could mean planning for days you'll eat out, days you'll eat leftovers, and days you'll cook.
Coach Amy's Tip: I like meal planning but hate meal prepping (cooking everything at once). It grosses me out! So I make sure I have quick meals that I can cook every day, and we order out 1-2x per week at most. My partner will cook his meals for 2-3 days in advance. It's all about what works for you! Sign up with one of our coaches with code SAVEMONEY for 20% off, and get help making lifestyle changes that save you money.
Tip #2: Shop Around to Find the Lowest Price
Now is the time to pay attention to where you're buying your groceries, and if you can get them cheaper somewhere else. Many of our Bolder members make the switch from grocery stores to wholesale stores (like Costco) to get more for their dollar. Do a little research before your next shopping trip to check prices on the items you normally buy.
Tip #3: Eat the Food You Have
We're all guilty of this - you know the items that have been in your house for months (years? maybe throw perishable stuff out...) without ever seeing the light of the kitchen. Making it a habit just one day a week to go on a pantry or fridge adventure and see what's been left behind that could be made into something delicious or at least cost-friendly could save you hundreds over the course of a few months.
Save Money on Subscriptions and Utilities
It's time to check in on your regular expenses! Anything that's coming out of your bank account in regular intervals, monthly, quartely, etc. could be a cost-saving opportunity.
Tip #1: Cancel Unused Subscriptions
Take a look at all of your subscriptions and decide what you really need, and what you aren't using. Cancel the ones you aren't using, even if they're small!
Tip #2: Review Statements for Utilities
Super boring, we know. But think about how many times you pay your gas, electric, internet, or other bill without even looking at what they're really charging you? Take a look at your most recent statement to make sure it looks correct, and call the service provider to negotiate or cancel anything that shouldn't apply to you.
Tip #3: Look for Lower Cost Service Providers
Don't see anything weird on your statement? Great, now you get to look at other service providers to see if they can offer the same thing for lower! You can also use this as a negotiatoin tactic with your current provider. Do some research online to see if there are new customer deals or lower prices for the same thing, then call your current service provider to let them know you're thinking of switching, and ask if they can match the price or offer you a discount.
Rethink the Way You Buy
If you are really looking to cut back, you may want to consider rethinking the way you buy. We're talking about some lifestyle changes that may be temporarily necessary while you navigate rising costs, and thatyoumay find become part of your new consumer mindset for the long-term!
Coach Cortney's Tip: Our most successful Bolder members aren't just relying on their budgets, they are making mindset changes around the way they spend to be more thoughtful and in control. You don't have to change everything at once, so pick one of the mindset shifts below to try over the next month or so, and let us know how it goes! Want help? Use code SAVEMONEY for 20% off your 1:1 coaching membership with me!
Tip #1: Buy Secondhand
Maybe shiny and new is out, and secondhand is in? Maybe Facebook Marketplace can have the items you need, still in great condition? Can you borrow something from a friend, instead of buying it for yourself? There are lots of no cost 'buy and sell' groups you can join, search for one in your area, and make sure you are safely doing and drop offs / pick ups of items. Get curious about what types of things you'd be comfortable getting secondhand, and start exploring.
Tip #2: Make Minimalism Fun
Hear us out: what if, instead of needing to restrict yourself to save money, you are making a shift to embracing a "less is more" mindset? Can less things in your home be a fun challenge or hobby you take on while needing to cut back? Maybe it's not that you can't afford lots of spending right now, it's just that you are a new version of yourself (at least for a little while) who loves no-spend activities, using what you already have, and trying to spend as little as possible. How fun! Right?!
Tip #3: Align Your Spending with Your Values
We have typed that line into so many of our playbooks, posts, and newsletters for a reason: it matters. Nobody sticks to a budget every single month. The numbers are just numbers. But being able to carefully discern in the moment of a purchase if it's really aligned with where you want your money to go, and what you value? That's priceless. Reflect on why you're spending, and how it makes you feel. Getting intentional about each purchase is a mindset shift that can take time, but with a little practice you'll get there.
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