10 Ways to Save Money Without Giving Up Spending
Tags: Saving, Money Tips, Personal Finance, Banking Apps, Money

A common misconception (and ultimately, stress inducer) about saving money is the only way to do it is to simple stop spending. This is both unrealistic (if you can do it, teach me your ways) and just plain not fun. But what if I told you there are ways to substantially save money every day without having to stop spending money at all? Don’t believe me? Keep reading.

1. Sign up for free store rewards programs

Most retail shops offer some sort of rewards or points program that usually only require an email address. It might even be a good idea to make a separate email for this to keep it all in one place!

2. Be thrifty

Though thrift shopping has only recently become a lot more trendy, it has always been a guaranteed way to spend money. Today there are so many options of used clothing stores, many of which specialize in only selling popular and new brands, so skip the mall and get thrifty.

3. Go 1:1 on spending and saving

A good trick to save when you make big purchases is to put the same amount in your savings. For example, if you splurge on a $50 pair of shoes, also put $50 in your savings account. Now you’re more conscious of your bigger purchases and you’re also saving for the future, win-win!

4. Plan meals around grocery coupons

If you’re on a grocery run or even cooking for a potluck, check your local grocer’s coupon book and decide your meals around what’s on sale then plan recipes based on those ingredients and what you have on hand. Do that for a few months and you’ll find yourself with a much smaller food bill than you’re used to.

5. Go holiday shopping after the holidays

Might sound silly and way too ahead of the game, but Christmas wrapping paper and Mother’s Day cards are a fraction of the price when you by them right after the holiday, and then you’re one step ahead of everyone else for next year.

6. Go generic

Instead of just picking up the most popular brand of an item you buy, try out the store brand or generic version next to it on the shelf. You’ll save a few dollars and are likely to discover that it is just as good as the name brand — often, the only difference between the two is the branding, which you shouldn’t pay more for.

7. Buy in bulk

With items you use a lot of and regularly, buy in bulk from a wholesale retailer or try to find the biggest packages in your local shop. For example, trash bags, laundry detergent, paper towels, etc. are usually priced significantly cheaper in larger quantities, and you won’t have to shop for them as often!

8. Buy clothes that mix and match well

When you go shopping for a trip, new job, or just a new season, try sticking to items that mix and match well with things you already own or the other items you’re buying that day! The more outfit options you have, the less inclined you’ll be to overbuy or buy things you’ll only wear once or twice.

9. Set your bills to auto-pay

This might sound obvious but you could save an immense amount of cash by avoiding those late fees and paying all your bills on time, especially that sneaky credit card.

10. Automate your finances with Envel

The easiest way to fully take the thinking out of your managing your money without depriving yourself of your usual spending is using Envel, a next-generation bank account that uses AI to optimize your saving and spending, totally on auto-pilot with your financial health at the forefront of it’s ideology. The app and debit card launch at the end of 2019 but you can get a head start by signing up for the waitlist at www.envel.ai. So what are you waiting for?

Intrigued? Check out Envel on Instagram, Twitter, Facebook, and LinkedIn, and get early access to our beta app by signing up for our waitlist.

Written by Latifah Obaid, Marketing Manager at Envel