6 Easy, No-Brainer Ways to Save Money Right Now

We all want to save more money. There are a thousand different strategies to do so, but some can take a long time to get results. Regardless of your financial situation, there are easy ways you can save money right now. These six ideas will help you save cash, and you’ll be amazed at how quickly small changes can add up to big savings.

Become an At-Home Coffee Guru

Time to brush up on your best barista skills. One of the easiest ways to immediately save some cash is to cut back on trips to your favorite coffee shop. We’re not saying you’ve got to kick your coffee shop habit cold turkey, but we are suggesting you consider making coffee at home. Think of the coffee shop as a treat - something you can look forward to or reward yourself with. Buying coffee to make at home isn’t just money-saving. It’s fun! There are lots of different methods for brewing at home, and you can still buy coffee beans or grounds from your favorite local shop to support them. It’s a win-win.

Cancel Subscriptions You Don’t Use

Magazines collecting dust on the coffee table, streaming services going un-binged, seasonal boxes less fab and more flop? These are all examples of subscriptions you’re not getting your money’s worth from. Take a step back and assess what subscription services you’re truly utilizing and which you enjoy the most. The ones that don’t make that list get canceled. Period.

The Cooling Off Period for Non-Essentials

You know the drill: chilling on the couch at the end of the day, streaming your favorite new show and scrolling through the latest sale from your go-to retailer. 40% off everything? You better snag a few deals, right? Not necessarily. Give yourself a cooling off period before tapping the checkout button. What this really means, in practical terms, is that if what you want to purchase is a non-essential item, you should give yourself some time to step back and consider a few things before buying it. Do you need this item to survive? Can you really afford it? Do you really want it, or are you just reacting to a well-marketed sale? How many hours would you have to work to pay for it? How often will you use the item? Your cooling off period could be an hour or a day - it’s up to you. Regardless, that extra time can help you attain some clarity to avoid another impulse buy.

Rewards Programs

Loads of retailers have free rewards programs for their loyal shoppers. Most simply require you to provide your email address and subscribe to their newsletter or other e-correspondence. Think about where you spend most of your money: grocery stores, big-box stores, gas stations, salons, and restaurants are all places that have rewards programs for their frequent shoppers. They may offer discounts and special pricing that only rewards members have access to. These savings can add up quickly.

Cook Your Own Meals

We called this article “no brainers” for a reason. Cooking meals at home is a classic example of an easy way to save money. The cost of dining out has risen significantly in the last two years, whereas grocery costs increased, too, but at a far lower rate. Paying for restaurant food equates to more than just the price of the menu item. You’ve got to take into account taxes and a tip. Meal delivery services tack on additional delivery and processing fees. These things can add up quickly.

To channel your inner chef, make cooking at home fun! Involve the whole family, pick out a new cookbook to try, buy fun aprons, or rotate who’s doing the cooking that night. Not only can cooking at home save money, but it can bring the family together, too.

Pay Down Your Debt/Live in Cash

This one is simple: if you’ve paid off your debt, you’re not wasting valuable dollars paying interest or minimum balances. That's money back in your pocket and into your savings. Living in cash can be freeing. You know exactly how much money you have at all times, and there are hard limits to how much you can spend. That’s not to say that building and maintaining credit isn’t helpful or purposeful - it is. What we’re suggesting is that you consider eliminating some debt primarily as a means to infuse that money back into your savings.

Thinking about saving money and actually doing it are two different things. But you need to start somewhere. Saving money puts you in control of your financial future. We encourage you to try making small changes like these, which can add up and ultimately help you achieve more. Once you start saving, make the most of your money with a PSECU savings share.