The average American has less than $1,000 in savings, according to a recent Google Consumer Survey. Without a “nest egg,” unforeseen expenses could spell disaster for you and your family. But the good news is that you save more money by embracing frugal living.
Walmart Savings Catcher
If you shop at Walmart, be sure take advantage of the retailing giant’s Savings Catcher program. This program will automatically check competitors’ prices for purchased products to see if they are lower. If a competitor is selling the product at a lower price, Savings Catcher will give you the difference in the form of an electronic gift card.
Here’s a tip: you can save even more money at Walmart by paying with a cash back rewards credit card. Some credit cards may offer 1-3% cash back on all purchases, meaning for every $100 you spend, you’ll earn $1 to $3 in rewards bonuses.
Finance Manager App
Assuming you own a smartphone (and you probably do), try downloading a finance manager app like Mint. This app will organize all of your expenses and financial information to create a detailed budget. So instead of crossing your fingers and “hoping” that you don’t overspend one month, you’ll know exactly how much money is coming in and how much is going out.
Freeze Perishable Food
According to the National Resource Defense Council (NRDC), Americans throw out approximately 40% of their uneaten food, the equivalent of $165 billion annually. If you have a tendency to toss uneaten foods, consider freezing them long-term storage. From blueberries and strawberries to ground beef, chicken and even condiments, you can significantly extend the shelf life of most perishable foods by freezing.
Buy in Bulk
Another helpful frugal living tip is to buy in bulk. There are certain items that, when purchased in bulk, can yield huge savings. These typically include things like paper towels, toilet paper, laundry detergent, toothpaste, etc.
Eat Out Less
There’s nothing wrong with splurging every once in a while by dining out at your favorite restaurant, but this should be kept a minimum if you are trying to save money. Packing your lunch for work and eating meals at home can yield big savings over the course of a month.