Money Saving Tips from a Couple who Saved $50,000
Posted on Monday, February 13th, 2017 at 4:38 pm
Are you looking for ways to save money? Many of us have heard the same old tips, over and over again, about how to do that. If you are out of ideas on how to save money, consider the advice from a couple that saved $50,556 in 2016.
The advice comes from a couple who actually used these tips themselves. The Chicago-based couple, Matt and his fiancee, had a lot of student debt and were struggling to set aside any money. Matt’s blog is called Distilled Dollar. It has plenty of advice for those who are pursuing financial independence.
Here are just a few tips from The Distilled Dollar that may help you save money:
Do more than reading the tips
Many of us have read articles (like this one) that include tips for saving money. Matt points out that it takes more than reading about money saving tips. You have to actually implement the tips you read about. He says that once money saving habits are in place – the momentum takes care of itself.
Brew your coffee at home
It is very convenient to start your work day by heading to the nearest Starbucks (or whatever your favorite coffee shop happens to be.) Usually, the coffee drinks you buy from a cafe cost around $3.00 – or more.
You can save money by brewing your coffee at home. Buying a big bag of coffee costs less, per cup, than does a drink from Starbucks. Matt says they went without Starbucks for an entire year.
Cook at home instead of dining out
Two things happen when you make a habit of dining out instead of cooking meals at home. One, you end up spending more money than you need to. It costs much less to make a hamburger and fries at home, from groceries you already spent money on, than it does to buy a similar meal from a restaurant. Two, the groceries you bought might not get eaten before they go bad. That’s a waste of money!
Matt from Distilled Dollar says that when they started cooking at home more they ended up finding creative ways to save money at the grocery store. They also ended up eating healthier than before.
Delay buying new clothes
Are you someone who loves to buy new clothing – even if you don’t actually need it? Chances are the clothing you already have will do just fine. Delay buying brand new clothing as long as possible. It might not be fun, but it is a good way to save some money. New clothes can be expensive!