10 most effective ways to save money

There are a 1000 ways to save money.  But what are the most effective ways to save money?  Here are 10:

  1. Use cash.  You will save 2%-5% on average as cash feels more painful
  2. Use cards for online discounts, useful purchases (like books that help you in business and finance).  Bulk buy when you see an offer on Amazon for daily essentials 1+2 = 5%-7%.  That is huge, if you invest this surplus.
  3. Emigrate or move to another city if your income is mainly online.  This can be huge.  You could half your living expenses this way
  4. Only buy luxuries as treats
  5. Write down your budget.  With pen and paper and online.  It obligates you to keep to it
  6. Get more fuel efficient heating, cars and other appliances if the initial cost makes sense
  7. Save money on things which are so easy to just auto-renew like auto insurance 
  8. Save money on health insurance overseas for expats and domestically
  9. Give up, or dramatically reduce, just one thing.  Alcohol would be a good candidate as you indirectly spend so much, as you also tend to spend more money when hungover.  If you can’t cut out smoking or drinking on day 1, do it incrementally
  10. Here is a huge one – try to make sure you don’t lose half your money to divorce! Choice your partner wisely!

2 Replies to “10 most effective ways to save money”

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