Ready to have more money sitting in your bank account?
The little things add up, but does that really mean we have to give up our lattes? We’re tired of the same old coffee-hating advice so if giving up your gourmet cold brew is non-negotiable (or not applicable), there’s still hope. Here are seven strategies that, combined, can help you save up to $5,000 in one year.
STICK WITH YOUR BANK’S ATM
Banks rake in billions of dollars in account fees every year. A serious chunk of that comes from our own lazy tendency to use out-of-network ATMs. (I’m totally guilty of doing this.) The average ATM withdrawal fee hit $4.69 in 2017, according to Bankrate.com. This includes the fee your bank charges you for using an out-of-network ATM and the ATM’s own fee.
Avoid these fees altogether by using your bank’s mobile app to find the closest in-network ATM (most major banks offer this free tool). And take the longer walk if need be. Consider it good exercise.
Potential savings: $244 (weekly ATM trips)
DITCH BOTTLED WATER
Like lattes, bottled water is a small expense that, over the long haul, can compromise your savings account. Water is free, after all, and by investing just $20 on a nice, BPA-free water bottle you can simultaneously fill up that piggy bank and help the environment. Win-win.
I did the math: The savings from skipping that $1.50 bottle of H20 from the gym or lunch spot, five days a week, is compelling.
Potential savings: $400
Potential savings: $38
ENJOY BOXED VINO
GET FREE PAMPERING
A routine facial could run you $100. Instead, make a mask at home. Apply this popular pore-shrinking recipe: 2 raw egg whites plus 2 tablespoons plain yogurt. Let it sit for 10-15 minutes, and then remove with a wet towel. (I’m also a fan of placing Bioré strips all over my face instead of just my nose!) Or get a free 20-minute mini facial at a nearby Origins.
The occasional massage costs about $60 per hour (the national average). Instead, check out your local massage school. Most require students to give hundreds of hours of massages before being certified — at a discount or for free.
Another trick: Take advantage of your salon’s free bangs trims if you need a quick refresh. Didn’t know they offer them? Chances are they do; this is a common but lesser-known freebie.
Potential savings: $1,000
SPLURGE — WITH A DISCOUNTED GIFT CARD
Last but not least, here’s how to enjoy that daily latte — or whatever your heart desires — while pocketing a few extra hundred dollars a year. Stock up on discounted gift cards from your favorite restaurants, clothing stores, movie theaters, etc. from sites like GiftCardGranny.com and Raise.com.
If that daily latte costs you $4 a day, that’s a little over $1,400 over the course of a year. Shave off 15 percent by using a discounted card. (Raise.com actually estimates purchasers save an average of 16 percent.)
Potential savings: $200-$500
Source: Her Money