Saving money is always top of mind for American families, but it becomes more essential during economically turbulent times such as those we’re living in now, when the stock market is fluctuating widely and costs of living are rising faster than wages.
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The best way to save money is to spend less of it — and you probably already know all the best tried and true ways of frugal living, but there are a few ideas you may not yet have heard about or thought of. In a video posted to her YouTube channel, personal finance influencer Kate Kaden discussed four ways to spend less money that may be new to you. They’re super easy and could even be thought of as fun challenges.
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Buy or Spend On 1 Thing Less Each Week or Month
Maybe you get coffee on your way to work a couple times a week. Maybe you get takeout food on weekends. Maybe you go out to lunch on Fridays. It can be any number of things that cost money. Kate Kaden challenged you to buy (or do) one less thing in order to save money. You can apply this to your month, too — buy one less thing than you normally do.
“We’re going to want to treat ourselves sometimes — fine,” Kaden said. “But just reduce it by one and see how you feel.”
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‘Save for Later’ When Online Shopping
In an increasingly digitally connected age, where online shopping rivals in-person shopping in popularity, we can all relate to the temptation of “adding to cart” stuff that we don’t necessarily need. Ideally we’d eliminate this impulsive behavior altogether, but there’s another way to get around it. Hold the trigger on buying what you’ve added to your online shopping cart. Kaden recommended leaving items that are not urgent purchases in your cart for a minimum of 24 hours. By the time you revisit your cart, you’ll likely find that urge to buy has passed.
Swap a Night Out With a Night In
Planning a few movie nights out this summer? The kind where you’ll be buying not only movie tickets, but also popcorn, drinks and candy? If you need to save money, swap one of those nights out for a night in. Kaden pointed out that you’re likely already paying for a Netflix subscription. Take advantage of it. You don’t have to never go to the movies again, just open your mind to swapping out the experience for an in-home one now and then. You can use this “swap” method for a number of experiences. For example, instead of going to an expensive brunch with friends, have them over for a potluck brunch instead.
Shop Your Pantry
We’re heard about “shopping your closet” when you’ve got an event to get dressed up for and are tempted to spend on something new; but what about shopping your pantry? This is essentially what Kaden is recommending when she says to “make a boring meal from your pantry.” The idea is to get creative, in the culinary sense, with what you have. You may look in your fridge and think, “there’s nothing!” But your pantry probably has a lot, and maybe you’ll surprise Kaden and come up with something (ChatGPT can help with recipe advice here) that isn’t boring at all.
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This article originally appeared on GOBankingRates.com: 4 Ways To Easily Spend Less, According to Frugal Living YouTuber Kate Kaden
