How to save more and spend less – 13 actionable tips that work!

In this video (or you can read below), I am going to share pro tips on how to cut spending so you can stop running out of money before your next paycheck.

This used to be SO hard for me…. I was always so stressed out living paycheck to paycheck. I started thinking, what would happen if I didn’t buy this item? Did I really need it? This is tough when you have kids and you’re a single mom.

13 Actionable tips to cut expenses

Stop paying bank fees and overdrafts

You have the option to opt out of overdraft protection at your bank. When you opt out of overdraft protection, you will not be charged an overdraft fee and instead your debit card will be declined at the store.

You have to make the best choice for you and your family based on your values.

Most financial institutions will work with you if you have excessive overdraft fees. If it’s your first fee, I highly recommend calling the financial institution and asking them to waive the fee. What do you have to lose?

This will definitely help you save money, not to mention keep your hard-earned money! This is a great step to being in control of your money.

Stop getting money from the ATM!

Getting money from the ATM may seem inexpensive, but it all adds up. My challenge to you is to see how much you spend a year in ATM fee’s. Then think about what you could buy with that money. Now that’s a different way of looking at it, isn’t it?

Stop getting cash back from debit or credit card transactions for pocket money.

Getting cash back on your credit card is a very expensive way of getting cash. Even more expensive than an ATM fee.

Leave your debit/credit card at home

When you leave your debit/credit card at home and bring only cash to spend, it forces you to plan out what you are going to buy.

I’ll admit, I did this & it is stressful, but it also changed the way I spent money. If you’re up for the challenge, it will definitely make you think differently!

Stop using credit cards.

When you stop using credit, you will be changing the cycle of living in debt. Remember to take small steps because this may be a huge change for you. I know you can do it!

Stop eating out

Eating out is very expensive! If you add a convenience of deliver, it’s even more expensive.

Avoid paying for entertainment and do things that are FREE

There are so many things you can do for free. Check to see what your local community and surrounding communities offer. You may be surprised at the fun events happening close to you.

Review your memberships, subscriptions, internet costs

Do you have memberships and subscriptions that you don’t use? Cancel them. If you really miss them, you can always subscribe again.

Review your insurance policy

You can save a lot of money by shopping around for your insurance policy. Do you really like your insurance agent? Ask them to see if they can get the premium lower and go through your policy based on your needs, values and risk tolerance.

Sell things you don’t use anymore

This is a great way to get extra money to pay off debt. You can sell on social media, apps or websites.

Change your tax withholding

If you get a large tax return, change your tax withholdings to increase your take-home pay. You can easily calculate how much you should withhold from your paycheck by going to Irs.gov.

Make a list before going shopping

Making and list and sticking to it is a huge money saver! I didn’t say it was easy, but I know you can do it! You can also check out 9 simple ways to save money on groceries.

Avoid shopping malls & discount stores

If you are like me, shopping at malls and discount stores just to see what’s new is one way to increase debt. You feel like your getting a great deal because you are at a discount store, but when you’re trying to pay off debt, it’s not a wise idea.

By changing the way I spend money, I was able to go from living in an apartment to buying a house. Check out how I saved money to buy a house.