Handy Money Saving Ideas for 2020
The new year has arrived, and it’s time for all of us to start thinking about the most significant changes that we want to make to our lives in 2020.
For some people, now could be the perfect time to think about losing weight or giving up a bad habit.
For others, it might be a good time to consider putting time and effort towards a new goal.
Whatever you want to accomplish in 2020, the chances are that you’ll have a lot less stress in your life, and a lot more simplicity, if you learn how to manage your cash first.
Figuring out how to save more money in 2020 will make any goal more achievable.
What’s more, saving cash can be an essential resolution to make on its own.
Here are some handy money-saving ideas to help you get started.
1. Have More Staycations
If you’re already planning for your next getaway from work, why not consider going somewhere close to home, rather than traveling overseas?
As exciting as might be to jet around the world seeing exotic landscapes, a staycation will save you a lot of cash in the long-term.
What’s more, the USA is packed full of exciting things to do and see if you’re willing to get in your car and take a road trip.
Sometimes, even staying in your own home can be a vacation in its own right, if it means that you can ignore things like going to work or cooking your own food for a week.
2. Learn How to Make your Favorite Foods
Portrait of happy mother and her daughter cooking in the kitchen
If you tend to hit the drive-thru whenever you want some food after a long day, and you don’t want to give up your favorite meals, you can save money and your waistline in 2020.
These days, you can learn how to make practically anything online with a little creativity.
You might find some custom recipes for a pizza or burger that you love that you can make at home.
While making your own fast food might take the convenience out of the meal, it will ensure that you save some cash, and it will give you a chance to reduce the amount of fat and calories that you expose yourself to each day too.
3. Plan for Shopping
Planning for your shopping isn’t just about taking a list with you whenever you go to the grocery store – although that is a good idea.
You should also be thinking about how you can cut costs by making sure that you make the most out of every purchase.
For instance, if you’re using a loan to get a new washing machine, would it be a good idea to get slightly extra money and get a dryer at the same time?
Paying back a few extra dollars a month could give you a more energy-efficient device that lasts longer. Additionally, it means that you don’t have to pay for another loan later down the line when your other machine goes bust.
4. Set Small Savings Goals
Rather than challenging yourself with huge savings goals from the moment that you decide to start making a difference to your finances, why not consider setting small savings goals instead?
For instance, you might decide that you want to save $20 on your grocery shopping each week.
If you achieve your goal, you’ll have a bunch of extra money that you can put towards your emergency savings.
If you’re not successful, you can try again next week, and save whatever cash you did end up having leftover.
You could even consider getting your kids and partner involved so that you can begin making goals that you can all work towards together.
Your small goals will give you little victories that you can celebrate as a team.
5. Be Ready to Adapt
As you move through 2020, trying out new saving strategies, remember that not every technique will necessarily work for you.
There are plenty of people who struggle with budgeting and managing their finances, and different people approach their money-saving strategies in different ways.
It could take time before you find a plan that’s suitable for you and your family.
If you realize that one of the techniques that you’ve begun using to help you save money isn’t working as well as you had hoped, consider switching it out for something different.
You don’t have to continue using a plan that’s not working for you just because you said you would in your New Year’s Resolution.
Category: Family Finances
