Main Content

Money Savings Tips for 2020

6 simple ways to add money to your piggy bank.

Share this Article
Share on Pinterest
| January 14, 2020
First article

Many people make New Year’s resolutions to be healthier with the most common focus on physical health. While that is a great initiative, there are other pieces to the puzzle that often get overlooked. Financial wellness is something that can benefit you in many ways. Not only will you have more pennies in your pocket, but you can also have better mental wellness because the stress of money is not a factor.

Here are our top money-saving tips for 2020:

1. Make a budget and be aware. You may be surprised by how much money you’re spending in a month on one-off purchases. Make a list of monthly bills, payments per month and assess what is 100% necessary and what you could cut back on.

2. Pack your lunch! This is very easy to implement, and it can amount to huge cost savings throughout the year. Check out the Expandable Bento Box from your local Bartell’s! It’s a great transportable lunchbox with compartments to fill with all of your lunchtime favorites and comes with a reusable spork.

3. Forego the frappe. Coffee brewed at home is just as effective as the overpriced latte you grab on your way to the office.

4. De-clutter and sell your unused treasures. Think about how often you use your blender. Once a year? Sell it! What about those mismatched lamps you found at a garage sale? If you’re not using them, get rid of them! Board games that you thought you’d play all the time, but instead are just collecting dust? Put them up for sale! It’s easy to do and worth the time to make it happen.

5. Shop smart. On your next trip to the grocery store, look for sales or buy generic. Plan out your meals weekly and be sure to know what you already have at home before you hit the store. Creating a shopping list and sticking to it helps you to not overspend or make impulse buys that could bust your budget.

6. Cancel auto-renewals for subscriptions you don’t use often. This could include a streaming service, a gym membership or an underutilized shipping service.

7. Less not more. Read usage instructions to make sure you’re not overapplying cleaning products. Dish soap, especially, is normally very concentrated. Studies show over 60% of us aren’t filling up the sink with hot water and a small amount of soap, as directed, to do loads of dishes at once. Instead, we’re doing a few dishes at a time, applying more soap than needed, directly to the dirty dishes. We suggest something in between. Get a large bowl and dilute the appropriate amount of soap in hot water and start cleaning to your heart’s content! P.S. washing in a bowl, or filling the sink for big jobs, like when you entertain during the holidays, can also save water.

What are your favorite ways to save money?