We all love the idea of saving money. But, let’s be honest, it can be a pain. A user asked on an online forum, “What money-saving hacks or tips will you never try?”
Here are some of the best responses he got.
TRACKING SPENDING ON A GRANULAR LEVEL
“Not keeping track of your spending/income on a granular level is the greatest luxury if you can afford it. I only spend money on rent/food/drink/movies/events, etc., and I never sweat any of it. The only tracking I do is my checking account month to month to make sure it’s not going down.”
MEAL PREP
“I own a very cheap house and a very old car, so save money in those regards. I also don’t drink.
However, I have never been successful with meal prep. I can’t get organized to do that. So, I end up eating out for lunch 2-3x a week. Honestly whatever. $10 for a tofu bowl, who cares.”
BUYING THE CHEAPEST CAR POSSIBLE
“If circumstances ever force me to drive again, I’m not doing the “buy the cheapest car possible” nonsense. Driving and unexpected expenses make me feel like a failure. I will research for weeks and drive car salespeople insane with the number of vehicles I test drive before buying the non-existent twenty-year-old Honda for $3k.”
EXTREME COUPONING
“My sister did the extreme couponing thing for a while, and at least she seemed to be having fun with it, but she would spend most of her Sunday researching and clipping coupons to save $18 on a bunch of things she didn’t need. It seemed pretty dumb and also embarrassing.”
BUYING IN BULK
“One thing I am pretty sure about is that the common “buy in bulk” advice that’s popular among the lower/middle class generally isn’t useful.
Especially during inflation/wild markets, I do not think the cost-per-unit savings for many bulk purchases outweigh the time value of money.”
BUYING LOW-QUALITY FOOD
“I’ll never buy low-quality food. I steal the expensive stuff instead.”
R CHURNING
“R churning is all about structuring expenses completely around the bonuses and rewards of credit cards. So, you must stay on top of the cards, offers, categories, constantly applying for new ones, etc. Disgusting. Not so much the people that do it, but the fact that it has to be done at all.
You should do the cursory research into a credit card that works for you and never think about it again beyond paying it off.”
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Anika Jindal
Anika is a CPA and founder of What Anika Says. She shares simple and actionable frugal living, money management and money-saving tips to live a debt-free financially independent life. She has been featured on popular websites like Bankrate, Forbes, Mint ,and Authority Magazine. Byline: MSN