5 Tips I Learned From Reddit That Helped Me Save $ 2,500 This Year


When you buy through our links, Insider may earn an affiliate commission. Learn more.

  • I’m trying to save more money in 2021, so a friend recommended that I check out Reddit for advice.
  • I learned a new way to budget, how to get discounts on my bills, and how to get free stuff online.
  • These tips and more have already helped me save $ 2,500 this year.
  • Compare the rates and offers of savings accounts in your area »

Fixing my personal finances is one of my main goals for this year. Because of this, I spend a lot of quality time each week using strategies, tips and advice that can help me pay off my credit card debt, save more money, fund my retirement accounts. and to invest. While some of this content came from traditional experts, such as financial advisors, accountants, and my bookkeeper, I also found myself exploring alternative resources.

I started browsing financial tips on TikTok and found great advice on how to save more, invest smarter, and check cryptocurrency opportunities carefully. I have listened to podcasts from people who are not experts but who have made financial mistakes over the years. I also decided to stay open to suggestions from friends and family, which is how I started reading financial tips on Reddit.

A friend of mine suggested that I go through different personal finance subtitles, and after spending hours doing it, I came away with some interesting and unique tips that have already helped me save an additional $ 2,500 this time. year. This is what I learned.

1. Buy wholesale

I live in a small apartment in New York City and there aren’t a lot of wardrobes or closets. I never thought about buying things in bulk, mainly because of storage issues. After reading a tip from a Reddit user on how buying in bulk saved them money, I decided to do the same. I would understand the space problem if I could save the money.

I went to a store where I could buy groceries and household items in bulk. I spent a total of $ 200 on 20 items, ranging from toiletries and paper towels to frozen foods and cleaning supplies, and was able to use these items over the year up to ‘now. When I came back to add up how much I would have spent without buying wholesale and buying things every week instead, I realized that in just six months I had saved over $ 850.

2. Use websites that give things away for free

There are a lot of websites where you can buy second-hand items from other people, but thanks to a Reddit user, I learned an interesting way to really save money: getting other people’s items. free.

The user mentioned websites like Freecycle or Buy Nothing where people donate things. Using these websites, I was able to win two kitchen chairs (these sell for $ 125 each), a desk and chair (the exact set sells for $ 325), a nightstand (this one sells for $ 175) and a few other decorative items (which in total would have cost me $ 400).

3. Withdraw from your checking account only

I have found that a great way to save money is to hide your credit cards and only pay with cash. I have noticed that some stores do not accept cash, or there will be times when I forget to bring cash with me and there is something I need to buy.

One Reddit user mentioned that to save money, he uses his checking account as “cash” for the month. They put in a certain amount each month (or week) and that’s what they allow themselves to spend. Every other dollar of their salary goes to savings.

I have been using this trick for two months now and it has not only helped me stay on budget but also saved me an additional $ 250 per month.

4. Use your freezer

Most of the money I wish I could save each month is spent on food, whether it’s dining out or paying for groceries. A few people have mentioned on Reddit that to save money, they stock up on sale items at the grocery store that can stay in the freezer for quite a long time (bread, meat, frozen meals).

A few months ago, I researched when certain items were on sale in my local grocery store and stocked. It saved me from having to spend money on these items every week and it helped me save money (since I was able to take advantage of the sale price). Overall, it helped me save $ 100 in total.

5. Ask for discounts

While I had heard the advice before that you can (and should) call your service providers (phone, cable, internet) and ask for discounts or better deals for less, it’s this Reddit comment that m ‘really pushed to do it in February.

I was able to save $ 15 per month on my Internet and cable plan and $ 25 per month on my phone bill by making these calls. So far this year it has saved me $ 200.



Source link

Comments are closed.