Living in the cost of living crisis, where more and more people are uncertain whether they will be able to afford a warm meal and their home rent in the coming months, can be scary.
No wonder more and more people are taking a step further in keeping that wallet tightly shut if possible. “What are some interesting life hacks for saving money?” someone asked on the Ask Reddit community and the responses came flooding in.
Armed with exceptional ingenuity and often unusual approaches to spending and saving money, people revealed what they do when prices are beyond control. Scroll down through the most interesting responses below!
#1
Don’t have kids
#2
Always eat before going food shopping
Image source: Trackull, Jack Sparrow
#3
When at the grocery, look at the price/oz or whatever unit it is instead of the total price. It’s usually posted in one corner. It’s not going to save you tons of money, but it does add up. Plus it takes out the guess work when comparing similar items.
Image source: Richards_Brother, Nothing Ahead
#4
I don’t smoke but live my financial life as a smoker. Meaning every Monday I transfer the sum of one weeks worth of cigarettes to my savings account. If people that earn less than me can afford smoking, so can I.
Image source: kebabhue, lil artsy
#5
Don’t buy something that you normally wouldn’t buy just because you have a coupon.
Image source: Rwill113, Carol Pyles
#6
Get yourself a library card. It’s not just books, but also movies, workshops, education, software, computer time, music. I’ve probably saved thousands on all sorts of c**p.
If it weren’t for the library, I probably wouldn’t have been introduced to awesome books like American Gods, The Way of Kings, All Systems Down, or The Road.
Image source: anon, cottonbro studio
#7
I have a friend who, at the end of each pay period, moves whatever she has in checking into savings. It doesn’t matter if she’s got $5 or $50 in the account, it goes into savings the night before payday.
Image source: Gigglefruit358, Karolina Grabowska
#8
learn to cook! 4 or 5 reliably delicious recipes will go a loooooong way.
Image source: joo_ish, Juan Pablo Serrano Arenas
#9
If you can avoid it, never take out a payday loan.
Image source: Creative_Uzername, Tony Webster
#10
Buy secondhand!
Today I have secured myself a solid pine desk for my daughters room, no marks or damage, for £10, and a worn-once, three piece navy suit for my son to wear at our wedding next year, also for £10.
I buy maybe 80% of my stuff secondhand. I bide my time, wait for a bargain, and I have saved sooooo much money over the years.
Image source: BeccaaCat, cottonbro studio
#11
Making one extra payment on your mortgage per year will reduce a 30 year mortgage to roughly 17 years.
Image source: -thersites-, Ketut Subiyanto
#12
Only drinking water is a solid one. Soda at restaurants or other drinks add up a lot.
Image source: Kings-x-Dynasty, behrouz sasani
#13
If you can buy a tool to complete a repair for the same price as the repair itself, buy the tool and repair it for free next time.
Image source: -thersites-, Bidvine
#14
When buying online, leave items in the shopping cart for awhile. There is a good chance that the website is tracking this, and will lower the price overtime to entice you into buying.
I’ve saved a lot by being patient. Like when I got a surround sound amp for $350 that was listed everywhere for $450 to $500, just by leaving it in the online shopping cart for a week.
Image source: Whatmeworry4, cottonbro studio
#15
Make your own lunches for work. The cost of making/preparing your lunch for the week can be less than what you pay buying one days lunch.
Also, can provide health benefits.
Image source: imissmydogloads
#16
If you’re low income, **apply for foodstamps** (or whatever your city/state calls the equivalent).
Seriously, there’s no shame in it. I neglected to apply for several years when I was really struggling because I had to unlearn the stigma that they had when I was growing up. Times have changed. ***If you need help, don’t be afraid or embarrassed to ask for it.*** I qualify for the maximum amount where I live. It doesn’t cover my monthly food expenses but it gets me through a few weeks and I could make it stretch if I really needed to. It never hurts to apply.
Image source: BabaYagatron
#17
Don’t buy the cheapest option. Often the middle priced option will be the best value. Things that are too cheap are worth what you paid for them.
Image source: -thersites-, Sue Thompson
#18
Don’t drink. Alcohol is a money drain.
Image source: kryptonianjackie
#19
This is not mine, but ‘The 72 hour rule” is pretty damn helpful.
Basically, the gist of it is, if you want something that is not a necessity, instead of buying it immediately, add it to a list (in my case I use a spreadsheet, but whatever works), then wait 72 hours.
If after 72 hours, you still want it, then you can buy it. It seems that 80-90% of the time, after the 72 hours is up, I don’t end up buying the item I thought i wanted.
The reason I like doing it with a spreadsheet is, I can then at the end of the year, easily add it up, and see how much money I DIDN’T impulsively spend.
EDIT: It took me a while, but I remembered where I picked this idea up from. It initially came into my world from listening to the ChooseFi podcast interview with the Frugalwoods.
Here’s the podcast: https://www.choosefi.com/012-living-frugal/
and here is her original article on it:https://www.frugalwoods.com/2017/01/09/my-foolproof-method-to-stop-impulse-spending/
Image source: Icarus_Jones
#20
I try to cost things as portions of better, or more fulfilling things i.e.
A coffee is 1/10 of a new game. Ten meals out is a weekend away etc.
Image source: _mexicola, Karolina Grabowska
#21
I don’t spend $1 bills. I collect them in a box and at the end of the year I usually have a few hundred dollars
Image source: RusoArmo, Pixabay
#22
Acting broke. Trust me. Nothing helps you save more than acting broke. And there is a way to do that without becoming a mooch. Eat at home if your friends have a dinner plan at an expensive place. Pregame if you’re going clubbing. And if anyone asks you why aren’t you eating/drinking/coming for that vacation just say you’re broke. I learnt this the hard way. Because I remember becoming a recluse and slowly stopped socializing just because my friends always had these extravagant and expensive plans and I realized it really started weighing down on me. But eventually I learnt that there was no shame in wanting to save money/being broke and definitely none in saying so.
Image source: TheQr8r, Nicola Barts
#23
Try buying reusable objects in place of single use ones. It’s better for your wallet and environment. Steel water bottles, reusable K cups, dish towels instead of paper towels, etc. Over time the costs of little things really add up.
Image source: moongardenne, Polina TankilevitchPolina TankilevitchPolina TankilevitchPolina TankilevitchPolina TankilevitchPolina TankilevitchPolina TankilevitchPolina Tankilevitch
#24
Learn how to login to your online banking system and review your statement regularly. You’ll see how quickly money flows out for coffee…snacks…. and unnecessary purchase. Also set a budget and STICK TO IT.
Image source: AwkwardTraveler, Antoni Shkraba
#25
Dollar store bleach. Dollar store vinegar. Dollar store cleaning products. Dollar store air freshener.
Image source: danmartinofanaheim
#26
Look at store branded food items. Do you really think Safeway, Kroger, Dollar General, Costco, and Walmart all have independent tuna canning facilities? NO! They’re sourcing the product from of of the big 3 (or however many) facilities that supply the name brand. This goes for the majority of store branded items. Make it a game to find out who has what national name product as their store brand product.
Image source: danmartinofanaheim, Sharon Mollerus
#27
Drive slower. You will see an immediate increase in mpg. Your brakes will last longer. Your tires will last longer. You will immediately be at a reduced risk for an expensive accident. Your engine will be able to go further before needing expensive repairs.
Image source: DentedAnvil, Dids
#28
If you have any land whatsoever and you aren’t growing at least some your own food, plant a fruit tree, etc, you are really missing out.
We got 20ish raspberry canes at an end of season auction last year for $1 each. They saved me at least $200 in the first year alone, and they are spreading nicely, filling out the space I planted them in.
I was pulling in 100 tomatoes every day at one point this summer. My freezer is full of free soups, and bags and bags of frozen tomatoes. I saved seed (heirlooms) and from here on out, I get free tomato plants forever.
If you mulch them heavy with woodchips, they are almost no work. You can make your own compost really easy. It’s all a lot less work than you think, and totally free money.
Plus, FRESH raspberries, tomatoes, peaches, strawberries, they are LIFECHANGING. The s**t in the store is hollow tasteless garbage.
This year alone, I bet I saved at least $2k from food I grew, with zero inputs other than a few hours to drop some compost down, plant, mulch, then pick now and then.
Image source: Suuperdad
#29
Stop buying snacks. Quit soda and the like.
Image source: cgriboe
#30
Learning how to cook pasta, rice and beans, soups, stews, polenta, grits, etc, really anything that costs very little and can feed a huge family. You save insane amounts of money, even if you are frugal in terms of buying cheaper things from stores (e.g. $5 sandwhich). For that same $5 you can make pasta with butter, cheese, and peas for the whole family. Or make beef stew with barley (chuck roast is really cheap and delicious in a stew).
Image source: Bince82, Jess Ho
#31
Live below your means
Image source: turtle101z, Ron Lach
#32
Separate s**t out. Use multiple bank accounts.
Use one for “b******t money”, Use one for rent/mortgage/wtfever, Use one for recurring bills (gas, car payment, insurance, bills, etc).
You know one easy way to not accidentally blow your rent money on dumb s**t? Keep it separate from your “go party with jeff on a friday night” money.
Image source: anon
#33
Rice is really cheap and can be really tasty. Have a side of rice with a lot of homemade meals to really round it out with basically no cost, same with some simple sauteed veggies. Very low cost, quite healthy and tasty.
Image source: cryptoz
#34
-Most people wash their hair way too often, and the scalp responds by increasing sebum production, leading to a cycle of “I have to wash my hair every day or it’ll be greasy”. Slowly cut back and/or investigate alternative haircare methods – conditioner-only washing, no-pooing, etc. Shampoo and conditioner are expensive.
-If you garden, find other friends who garden and swap seeds, seedlings, rarely-used tools (postholers, mulchers etc), cuttings and expertise. Same goes for any other hobby really. A weird size of knitting needle for a one-off project? A cement trowel? A novelty baking pan? Someone you know probably has it. I’m not saying be a niche – definitely reciprocate – but it’s ridiculous for ten friends to own ten sets of stuff they rarely use.
-I get basically all my books from two annual book fairs run by charities. A dollar or two apiece. Libraries are obviously even more frugal, but if you want to keep books, this is the way to go. If you want a new book and can’t borrow it, Kindle is generally cheaper than a physical copy.
-In the winter, never throw out a roast chicken carcass. Chuck it in the slow cooker with water, a bit of salt, and if you’re really onto it, onion and carrot ends you’ve saved in a Ziploc bag in the freezer from chopping veggies. Leave it overnight for stock, which is not only great as a soup base, but makes rice taste amazing. Liquid gold.
-Op shops in rich neighborhoods have fancy clothes.
-Coconut oil is a good cheap moisturiser, hair oil, deodorant when mixed with baking soda, shaving lotion, oil cleanser…
-Buy or make small Christmas stockings, not those huge Santa sack monstrosities. Train your kids that stockings are for edible treats, not gifts. Fill them with yummy things -pretzels, mini-packs of snacks and chips, candy, whatever. If your kids are smallish and don’t eat a ton of treats they’ll still be super excited, and now you don’t have a trillion plastic junky toys cluttering up your house.
-Buy one Christmas present a month (ideally something on sale) and store then up.
-Mystery shopping is a good way to get a bit of cash and luxuries you wouldn’t otherwise be able to afford.
-Buy good shoes and get them resoled when they wear out. I’ve worn the same pair of fancy Italian boots for what, ten years? Had the zippers fixed twice and the soles redone twice. Even if it didn’t save money it’d be worth avoiding the hell of shoe shopping. And my boots get compliments, so yay. :p
Image source: PuddleOfHamster
#35
Easy one- Buy your own modem. You can get a good one from Amazon for $100. Internet companies charge you $10-$12 a month to rent yours. Buy your own, return the rented one to internet company, and get that charge removed from your bill. Pays for itself in under a year.
Image source: Trenuk13, Stephen Phillips – Hostreviews.co.uk
#36
If you are getting married, send out wedding invitations to every billionaires address you can find. You have a 50/50 chance that their assistants will just send you a perfunctory gift without ever wondering who the hell you are. Free gifts!
Image source: meafloaf, micheile dot com
#37
Don’t use your main checking account for non-essentials. Give yourself a cash allowance each week, set it to whatever you find comfortable, and only spend that. Once it’s gone, it’s gone, and you have to wait until next week. It really helps with budgeting – you know exactly how much you’re spending on nonessentials, and you don’t need to track every penny.
Image source: anon
#38
Just don’t spend on items you don’t NEED…
Little items for 10 bucks here and there add up.
Even as less as a dollar adds up in the end.
Image source: TheBigDawgRoman
#39
Get a hobby that doesn’t take a lot of money, like volunteering, or doing knitting.
Image source: Final7C
#40
10% of your paycheck goes into a savings account and 20% to debts. The remainder stays in your checking account to pay bills and feed/entertain yourself. Be disciplined and stick to the plan. If you can, increase the savings percent. When you have enough savings to fulfill an emergency fund, start investing. Calculate if you can afford things using these constraints, and if you can’t then don’t purchase them. Not exactly a life hack, but this plan will make you wealthy.
Image source: anon
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