Here Are 7 of The Best Ways to Save Money in 2021
In 2021, saving money is incredibly hard. With the pandemic destroying countries economically and damaging businesses, money problems are more common now than ever. The current world is also engulfed in constant conflicts, climate crises, and now, a global pandemic. Consequently, many people have adopted a Spend Now Think Later lifestyle. Because they think the world is already going through so much and that it might not even survive for long, the ‘treat yourself’ mentality has gained popularity. This simply means that you’re allowed to treat yourself with whatever money you have because the world is ending anyway.
But the problem isn’t the people. It’s the system (said every conspiracy theorist ever). Global imbalances, financial inequality, and failing healthcare are just some of the reasons for our economic downfall. Therefore, it’s unfair to blame people for ‘not working hard enough’ when working hard enough only fulfills your basic needs. And mostly, not even those. However, structural and systemic changes don’t come overnight. So, to make your wallet appear fuller, you must make small, personal changes. Besides, the ‘treat yourself’ mentality only promotes mass consumerism. Here are some of the most effective ways to save money in 2021.
Make Your Own Coffee
Coffee addicts know the pain of overpriced, mediocre coffee. In 2021, where everything is getting more expensive, so is coffee. It sounds cruel because coffee equals sustenance. You shouldn’t have to pay for the air you breathe. But you do pay for the water that you drink. And the food that you eat. Might as well pay $4 for coffee too. However, the point is, you don’t have to pay large sums for something you need daily and frequently – like cost-effective Cox cable deals. Making your own coffee will not only save you money, but it will also make you not late for work. You won’t have to take a detour from work just for an overpriced café anymore. Just make your own coffee at home and take it everywhere in giant portable mugs.
Make Your Own Meal
Yes, meal prepping sounds like a fad endorsed by lifestyle influencers on Instagram. But before you scoff at the idea, give it a chance. Instead of ending up at your nearest Mcdonald’s for every meal, you can eat better, cheaper meals. Just prepare different meals with any ingredients you prefer and store them in the refrigerator in airtight containers. This way, you will just need to microwave pre-made meals and you’ll have prepared food for days. You always come back to Uber Eats and Foodpanda because you have nothing edible at home. Today, the takeaway will cost you more than ever. So don’t spend your entire paycheck on Taco Bell and Olive Garden. Cook. And store what you cook. It’s that simple.
Reduce Memberships and Subscriptions
That gym membership you haven’t used in 6 years because you resent all physical activities needs to be canceled. So does that Disney Plus subscription you’ve outgrown because you’re not 10 anymore. All of this costs a lot of money. Although you’re marketed these products and services in a way that makes their fee seem cheap, it’s not. When you calculate the total for all the channels, magazines, and clubs you’ve subscribed to, the sum is massive. Annually, the figure could round off to even greater numbers. Therefore, it’s important to cancel memberships and subscriptions you aren’t using so you can buy things you really need. Like the latest hoverboard.
Keep the Change Program
You can make use of the Bank of America’s Keep the Change program and save a few bucks here and there. Alternatively, you can use similar programs offered by your bank. You won’t be saving high dollar amounts with this, but the total amount collected monthly or annually could be a nice addition to your wallet.
Use a Different Online Savings Account
If it’s hard for you to save money with your traditional savings account, switch to a savings account run by an online bank. This will decrease your transfer rate and help you budget smartly. Also, the interest rate is higher so you can save more!
Install Budgeting Apps
Let’s face it. Everything is easier when a machine does it. Manual budgeting doesn’t do the trick anymore. You need an app that sends you notifications, reminders, and alerts to let you know about your financial status. This will make it easier for you to see how and where you spend your money so you can cut costs next time.
Don’t Give In to Overpriced Insurance Policies
It is very easy for insurance companies to rip you off. But what can you do? Your actual life is at stake. Or so they make you believe (said every conspiracy theorist ever). But really. Insurance companies charge higher prices just because they can. So, make sure you compare prices frequently to avoid paying extra.