Never use credit cards

Never use credit cards — Credit: Pixabay via Pexels

Many people advise against using credit cards as a scaremongering tactic – the less credit cards you have, the less possibility that you’ll spiral into debt! However, not having a credit card may actually harm your credit score. When it comes to applying for a mortgage, showing that you can use a credit card sensibly and pay it off monthly demonstrates that you’re a financially responsible person.

Learn how to do DIY

Learn how to do DIY — Credit: JESHOOTS via Pexels

Unless you plan to learn DIY as a lifelong hobby, investing in all the materials is more expensive than simply paying for a professional to get the job done properly. Individual tools and parts are costly, and you’ll end up spending even more if your efforts go awry.

Save coupons for grocery shopping

Save coupons for grocery shopping — Credit: Antoni Shkraba via Pexels

Clipping and saving coupons for the grocery store can save money, but only if they’re for items you actually need and use. If you’re using coupons to buy processed foods or expensive brand names, you would probably be financially better off buying vegetables and store brands. Buying generic brands and cooking from scratch is usually cheaper in the long run.

Drive further to get cheaper gas

Drive further to get cheaper gas — Credit: Peter Fazekas via Pexels

Unfortunately, this tip lacks logic. Is driving out for miles to save a few cents on gas really worth it? Chances are that it won’t make a big difference. At the most, you might save a couple of dollars. However, that’s at the cost of your time and energy.

Use homemade cleaning products and cosmetics

Use homemade cleaning products and cosmetics — Credit: Ron Lach via Pexels

People who make their own cleaning products and cosmetics at home mean well. However, if you don’t really know what you’re doing, it’s just not worth it. Sometimes baking soda and vinegar just won’t cut it. Invest in professional products that really work – they’re not as expensive as you might think.

Buy everything cheap

Buy everything cheap — Credit: Josh Appel via Unsplash

Believe it or not, going cheap on everything will cost you more in the long run. Some things are worth paying more for upfront. For example, cheap appliances that are poorly made will likely need to be replaced quickly. Fast fashion is another classic example. There’s no point buying something cheaply if you simply need to repurchase it a few months down the line.

Wash dishes by hand

Wash dishes by hand — Credit: Nathan Dumlao via Unsplash

Washing dishes by hand might seem cheaper compared with forking out for a dishwasher. However, those who do invest in a dishwasher find that the appliances actually use less power and water compared to washing dishes by hand! Bonus tip: if you do get a dishwasher, use dishwashing powder instead of tablets to save even more.

Buy everything in bulk

It’s great to buy some items in bulk, especially if you have a large family. But don’t go overboard! While non-perishable items like rice and canned food can sensibly be bought in bulk, avoid buying tons of fresh food. If you can’t eat it all before expiry, you end up wasting your money. Additionally, before purchasing, consider calculating whether buying in bulk is actually cheaper.

Use your appliances in the middle of the night

Use your appliances in the middle of the night — Credit: engin akyurt via Unsplash

It’s true that some electricity companies offer cheaper “off-peak” rates late at night. However, the key is to find out if your electric company is one of them! If you’re on a standard rate, you’ll fail to save any money at all by staying up into the early hours to do your laundry and dishes.

Buy a used car instead of new

Buy a used car instead of new — Credit: Mike Bird via Pexels

If you want a basic car to get around in, you’re probably better off buying new instead of used. In today’s market, the price difference won’t be much, if anything. It’s not easy to find a used car that’s in excellent condition for a good price – and any repair costs will drive up your expenses further.

Light candles to keep your home warm

Light candles to keep your home warm — Credit: klickblick via Pixabay

Candles are undoubtedly useful to keep in case your power goes out. But if you’re relying on them to keep you warm, think again. You would need many, many candles to sufficiently heat a room, and this in turn creates a dangerous fire hazard. Consider investing in a cozy blanket instead.

Wait until things break before replacing them

Wait until things break before replacing them — Credit: Max Vakhtbovycn via Pexels

We know it seems wasteful to replace items before they break. However, if your goal is to save money, you might want to think twice. Large, old electrical items like refrigerators can consume much more energy than brand-new models. You might therefore want to invest in a new appliance and save on the energy costs.

Do your shopping at dollar stores

Do your shopping at dollar stores — Credit: Alexas_Fotos via Pixabay

Dollar stores may not be as great value as you think, especially as not everything in there is a dollar. For example, items may be packaged in small quantities for a cheap price while they’re no cheaper per unit than at a regular store. It’s worth doing some comparison shopping before you buy everything there!

Cut costs on the little things

Cut costs on the little things — Credit: Chevanon Photography via Pexels

You’ve no doubt heard the advice to quit drinking fancy takeaway coffees if you want to save money. Of course, this might save you a few dollars here and there, but you’d have to be drinking copious amounts for it to make any real difference to your finances. The real trick to wealth is in looking at the bigger picture – think investments and passive income instead of monthly coffees.

Shop around for groceries

Shop around for groceries — Credit: Hanson Lu via Unsplash

You might a few of the same items at different prices, but generally, it’s not worth shopping around multiple grocery stores for bargains. Most stores are in competition with each other and, therefore, most products will be priced similarly. Any savings you do make will be overshadowed by paying for gas from driving around!

Use Google to find discount coupon codes

Use Google to find discount coupon codes — Credit: AS Photography via Pexels

Has your online shopping ever taken hours because you were so busy Googling discount coupon codes before checking out? The idea of getting your items for a little cheaper is great. In reality, however, most of the codes you’ll find online aren’t genuine or usable. Don’t waste your time and energy.

Put on an extra sweater instead of turning up the heat

Put on an extra sweater instead of turning up the heat — Credit: Pexels via Pixabay

It sounds like common sense to simply throw on an extra sweater in winter and remove a layer in summer. However, things are not that straightforward. Sometimes, turning up the heat or the AC is a matter of staying sane! Health issues like arthritis can flare up badly in the cold, for instance, and you’ll get a terrible night’s sleep bundled up in thick layers.

Shop for clothing at thrift stores

Shop for clothing at thrift stores — Credit: cottonbro studio via Pexels

True thrifting is a skill that takes time, knowledge, and effort. If you’re a novice, you’ll probably end up buying poor-quality clothing for more than it’s worth. Rather than discovering genuine designer goods at a fraction of the cost, you’re more likely to find high-street clothes from the 90s with the labels cut out. You’re also highly unlikely to find exactly what you’re looking for.

Keep your own chickens for eggs

Keep your own chickens for eggs — Credit: Magda Ehlers via Pexels

Some people might suggest that you get your own chickens – you won’t need to pay for eggs again! While this is a pleasant idea in theory, it’s easier said than done. Firstly, you’d need plenty of adequate space to keep the animals, and lots of time to care for them. Secondly, any savings you make in eggs will be spent on chicken feed…

Ask anyone you know for spare boxes when moving

Ask anyone you know for spare boxes when moving — Credit: Andrea Piacquadio via Pexels

When moving, it’s common advice to ask anyone and everyone you know for spare cardboard boxes. However, you’ll mostly likely only end up with irregularly shaped, poorly constructed boxes that don't stack neatly. Invest in quality moving boxes from a hardware store – they don’t cost much and can be kept for years.

Meal prep for the week ahead

Meal prep for the week ahead — Credit: Ella Olsson via Pexels

Preparing meals in batches is an excellent idea in theory; however, there’s no denying that it’s simply boring. You’ll quickly tire of eating the same meal over and over for the entire week. Not only that, but the food is likely to go off before you can eat it. Cooking from scratch can be cheap without meal prepping religiously.

Negotiate for better rates on everything

Negotiate for better rates on everything — Credit: Jopwell via Pexels

Negotiation is important (expected, even) when it comes to some things, but not everything. While you don’t want to be taken advantage of, don’t veer too far in the other direction either. Some establishments simply don’t accept haggling. If that’s the case, either be prepared to pay up or walk away.

Shop on Black Friday for good deals

Shop on Black Friday for good deals — Credit: Kaboompics via Pexels

Black Friday is great for stocking up on gifts or for treating yourself to a specific item. However, like coupons, these flash deals are only deals if you meant to buy those items in the first place! All too often, shoppers get sucked in by full-priced items they don’t need while browsing discounts.

Air dry your laundry instead of using the dryer

Air dry your laundry instead of using the dryer — Credit: Victor Kravchenko via Unsplash

Air drying laundry isn’t easy, especially if you don’t have an outdoor clothesline. Even if you do have a clothesline, using it is weather dependent. More likely than not, you’ll end up having clothes hanging all over your home. This leaves your clean laundry exposed to things like pet hair. It might just be worth paying the extra couple of dollars to use the dryer.

Sell your old items online

Sell your old items online — Credit: Photo By: Kaboompics.com via Pexels

Only sell items online if they’re of value and will make you a decent amount of cash. Otherwise, it can be a time-consuming exercise for little reward. Many buyers insist on messaging back and forth before purchasing and you’ll always get no-shows. Don’t bother if you’ll only earn a few cents – the cost of packaging and travel to deliver could even mean that you end up out of pocket.

Buy property instead of renting

Buy property instead of renting — Credit: Dmitry Zvolskiy via Pexels

Many people view buying property as an investment, but the truth is that it’s not the right choice for everyone. Whether you should buy or rent completely depends on your lifestyle and there isn’t a one-size-fits-all rule. Renting isn’t necessarily throwing your money away if you value travel and flexibility. And don’t forget that home ownership comes with costly repairs and maintenance.

Skip paying for insurance

Skip paying for insurance — Credit: stevepb via Pixabay

It’s tempting to skip paying for insurance when you’re short on money. While it’s true that you might get away with some things, it’s not worth the risk in other cases. Life is unpredictable, so it’s worth coughing up for things like home and pet insurance. Otherwise, you could land yourself in debt later down the line.

Make your own laundry detergent

Make your own laundry detergent — Credit: Anna Shvets via Pexels

This tip isn’t worth entertaining. Not only is making your own laundry detergent extremely time-consuming, but you also can’t be certain that it’ll be effective in cleaning your clothes properly. If the job goes wrong, you’ll simply end up washing your laundry twice. Additionally, buying the supplies to make your own detergent is probably more expensive than buying a pre-made bottle from the store.

Always pay off debt over saving money

Always pay off debt over saving money — Credit: Mikhail Nilov via Pexels

This tip is somewhat helpful. While paying off high-interest debt should be a top priority, it's important to remember to save some money at the same time. Building an emergency fund, however small, can help to protect you against unexpected expenses while you pay off debt. This means you can use your savings to pay for last-minute fees without having to borrow even more.

Make your own bread

Make your own bread — Credit: Polina Tankilevitch via Pexels

Before you go out and buy a bread machine, consider whether you’re really going to be making any savings. Bread is relatively inexpensive to buy, for starters. Making your own loaves requires purchasing ingredients, as well as skill and precious time. The last thing you want is to invest in a bread machine only for it to gather dust.

Wait until you get to work to use the bathroom

Wait until you get to work to use the bathroom — Credit: fauxels via Pexels

This is a terrible tip because it can negatively affect your health. It’s just not worth it for the tiny amount of water and toilet paper you’ll save. If you’re at work and feel nature calling, fair enough. But don’t deny your body if you just so happen to be at home!

Grow your own vegetables

Grow your own vegetables — Credit: Priscilla Du Preez via Unsplash

It’s an excellent idea to grow your own vegetables, but if your main aim is to save money, don’t bother. The first issue is that not everyone has a garden or access to an allotment. It’s also not exactly free… You’ll need to spend money on seeds, fertilizer, and pesticides. You could also be waiting a long time before you can enjoy the fruits of your labor.

Wash clothes at a lower temperature

Wash clothes at a lower temperature — Credit: RDNE Stock project via Pexels

This tip isn’t completely useless, but it doesn’t tell the whole story. The important caveat is that you must ensure that your washer is kept clean with maintenance washes. When you lower the temperature of your laundry cycles, the chance of mold developing and grease building up increases. This can result in damp, musty smelling clothes.

Exercise to stay warm instead of turning on the heat

Exercise to stay warm instead of turning on the heat — Credit: Getty Images via Unsplash

This is another tip that’s not going to work for everyone. For example, if you’re very elderly or disabled, you’re better off just turning up the heat than attempting to jump around for warmth! Additionally, the heat your body generates from exercising won’t exactly last long once you stop moving.

Commute to the office every day to save money

Commute to the office every day to save money — Credit: Arlington Research via Unsplash

While hybrid workers may find their electricity bills creeping up, this tip won’t work for everyone. Depending on how far you reside from your office, commuting can be even more expensive and time-consuming than staying at home. You’ll also need to consider the cost of buying lunch or preparing your lunch in advance.

Switch to an electric car

Switch to an electric car — Credit: Rathaphon Nanthapreecha via Pexels

Electric cars are a good idea in theory, but switching over isn’t as cheap as you might think. The upfront cost of buying an electric car is expensive. Not only that but rising energy prices mean that you might not make any meaningful savings. Long-haul journeys are another obstacle as you’ll likely need to pay for rapid charging along the way.

Don’t flush the toilet after every use

Don’t flush the toilet after every use — Credit: Parkin Srihawong via Shutterstock

This trick might save you some water, but at what cost?! Not only will your toilet bowl start to smell, but you might also even spot mold starting to develop. You’ll then need to spend more on cleaning supplies. If you live with family members or roommates, it’s wildly unsanitary.

Use credit card rewards programs to save

Use credit card rewards programs to save — Credit: Pixabay via Pexels

Using credit card reward points to save money isn’t worth it. You might be tempted to make unnecessary purchases and remember that you'll still need to cover expensive interest costs if you don’t pay your bills on time. Overall, this tip is simply not worth the risk.

Don’t bother hiring advisors or event planners

Don’t bother hiring advisors or event planners — Credit: The Penny Hoarder via Pinterest

It’s completely understandable to want to skip paying for professional advice and planners. However, this small investment could help you to save more money in the long run. These experts help you to establish and stick to a budget. They also have more experience in identifying hidden costs and so on.

Use candles under terracotta to stay warm

Use candles under terracotta to stay warm — Credit: Paul Bulai via Unsplash

One cost-cutting “hack” is to use a terracotta clay pot as a candle heater. While this might initially sound clever, proceed with caution. Terracotta plant pots are, unsurprisingly, not made for candles and can shatter with the heat. They also won’t generate enough heat to keep an entire room warm!

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15+ Common Cost-Saving Tips That Actually Cost You More - Social Ornament