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5 small changes in your daily habits that can save you up to $100 per month

5 daily habits that can save you up to $100 per month

Has it ever happened to you too, climbing towards the end of the month with your salary almost fully wasted? Or at least, not being able to put some money aside? It’s a common problem many people confess these days and the reason behind it is usually lack of organization and schedule, rather than not getting paid enough.

But you don’t need to wait until your everyday life gets fully organized to get started. The best time to start saving some money is now. Read below to discover some simple habits everyone can adopt anytime in order to fill their piggy bank every month, and don’t be afraid that you’ll need to change your lifestyle completely. Even with some tiny but significant changes you could end up saving up to $100 per month without even missing them! And don’t forget to check out the savings account offered by Freedom24 and see how all these savings you’ll make can get you up to 3% per annum, with a daily return!

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1. Track your expenses

We often get trapped in the idea that it’s our big expenses that leave us penniless at the end of every month. But it’s also the little things that sum up and finally cost us a fortune. It’s really easy to download an app that helps you plan your budget and organize your finances based on what you spend.

2. Focus on recurring expenses

The first point stays true, but you can’t leave your recurring expenses out of this process. Making small changes in your fixed costs can significantly boost your savings. What I mean by that is, for example, you can ask your mobile and internet service providers if they have a cheaper plan, even if you are already satisfied. Or you can do some research on fuel stations with the lowest prices and the best day of the week to fill up. Every small change counts and can help you see your savings grow every month.

Another thing that falls under the same category, are the yearly expenses. Some of them are also recurring after all, but on a different scale and timetable. A common example? Your car insurance. That’s something that most people pay every 6 or 12 months. The thing is that most of us wait until the last minute to even think about this expense. If you think about it though, it’s an expense that you already know that is coming at some point. Our suggestion? Plan for it, prior to the deadline! That way you split the amount of money you have to save for it in a much bigger timeline, and you are always prepared!

3. Plan your eating week

If you know your exact meals for the upcoming week and have shopped proactively, then you can avoid any last minute visits to the supermarket. This results in spending less money and probably even wasting less food. Here again, dieting or grocery shopping list apps can be your best friends.

And it doesn’t stop there. If you have no eating plan, you often go with the easy solution of fast food. And we all know that making fast food a frequent habit is not beneficial, neither for your health, nor for your wallet. 

4. Improve your self-discipline

Spending money has become much easier nowadays: online shopping, credit cards and mobile payment apps have made it so simple to make purchases, especially for things we crave and don’t necessarily need. Next time you see something you like, try to control your impulses and wait at least one day before you buy it, or even one month if it’s a big investment. Even better if you can be patient until it is put on discount. But be careful: no burgain is a good deal if you don’t really need the product. Moving your financial mindset towards spending on “what you need”, rather than “what you want”, can make your choices so much easier. Even a small change in this direction, will make a huge impact on your wallet! 

5. Create a savings account

It’s one of the easiest things to do in order to save money and it’s almost always free. You can choose between a variety of platforms and decide your way of depositing. Many people make the smart move of rounding up transactions, for example “paying” $60 every time they buy something that costs $55, and transferring the remaining $5 to their deposit account. And in case you wonder “Why shouldn’t I just leave my money in the bank as they are right now?”. Well because some platforms simply offer higher interest rates. And because we all know that if you leave it on your running account, or in the form of cash in your wallet, those $5 will soon be gone without you even noticing!

For example, Freedom24 offers the D-Account (Deposit Account) that gets you 3% per annum, with a daily return! Storing a portion of savings there is a must for everyone, since the platform offers guarantees up to 20,000€. You don’t have to be an investor or learn anything about stocks to do that. You’re just benefiting from this feature from Freedom24, rather than settling for the smaller interest rates that most banks offer.
And to answer the question in your head: Yes. For up to 20,000€,  it is as safe as a bank to trust your money with Freedom24.
Click the button below to create your account for free.

As you can see, small acts can lead to something big. You can start today with simple changes that can help you save thousands in the end. Even if you implement just one of the above, you’ll start seeing the benefits of being organized financially.
And remember:
– Do not save what’s left after spending. Spend what’s left after saving.
– Organized and well-thought saving is the most efficient path to getting rich!

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