10 Ways of Saving Money While Living by Yourself: Tips and Tricks

How does one save money while living by themselves? You might think that saving money would be impossible if you’re not sharing bills and rent with someone else, but it’s actually easier than you think. Here are some ways that you can save money while living alone.

10 Ways to Save Money When You Live Alone

Living on your own can come with some extra expenses, but there are many ways to save money.

1. Track Your Spending – Track your spending for a month so you know what to cut back on the following month.

2. Live Below Your Means – Spend less than you make, even if it is just by a little bit. Pay off debt first, then invest in yourself if you have some left over.

3. Stay Organized – Keep a list of items that need to be purchased, as well as a list of items that need repairing. Regularly clean out your pantry and refrigerator.

4. Use Public Transportation – Whether walking or biking, use public transportation when possible instead of driving yourself or taking a taxi or Uber/Lyft ride.

5. Cook More at Home – Plan out your grocery shopping each week, making sure to buy things like canned goods when they are on sale and freezing them for later use.

6. Pack Lunch Instead of Eating Out – Pack lunch and snacks rather than eating out. 7. Get Rid of Clothes You Don’t Wear Anymore – If you don’t wear clothes anymore, get rid of them!

8. Turn Off Unnecessary Lights – Even small things like turning off lights will help reduce your monthly electricity bill.

9. Turn Off the Water When You’re Not Using It – Be mindful not to waste water; turn it off when you’re not using it (and especially during those hot summer months).

10. Save Paper Products for Special Occasions – Cut down on paper products by saving them only for special occasions such as birthdays and holidays.

Bonus Tip

11. Have Separate Bundles for Phone, Internet, Cable/Satellite, and Gas

Tips to Save Money Living by Yourself

• You can save money on your phone bill by bundling the services of internet, cable/satellite, and gas. You are able to get all three services together at a discounted rate.
• Utilize public transportation as much as possible. It’s cheaper than owning a car, it’s good for the environment, and you’ll be more active.
• Cook your own meals instead of eating out as much. Cooking is not only healthier but also cheaper in general. Learn how to cook some basic dishes like pasta, rice and beans, chicken breast with vegetables etc.

Move in with Friends

moving in with friends can be great way to save money when you move out from you home. And if your family is very close, it might be a good idea to live close by so that you don’t have far to go for family time.

It also means that people will help take care of the house, giving you more free time on your hands for cooking, or for getting a part-time job or doing some studying. Even if you live on your own, there are still ways to save money.

There are plenty of tricks and tips to saving money while living alone.

• One great trick is to ask for food samples at grocery stores; this allows you try new things without wasting food.

• Also sign up for store newsletters because these usually offer discounts such as a free item every month or two.

• Buy bulk foods that come in large containers, like rice, beans and peanut butter.

• The last tip to save money living on your own is to eat leftovers the next day instead of ordering takeout.

 Living on your own doesn’t mean you have to spend all of your hard earned cash just because you’re not living with someone else!

Automate Your Finances

Automating your finances can save you time, stress, and money. Make sure to set up automatic bill pay with all of your monthly bills. You’ll never have to worry about forgetting a payment again.

Plus, if you’re diligent about setting up an emergency fund each month in addition to the automated savings plan, you’ll be prepared for any unforeseen events that may come up throughout the year. By automating your finances, you’ll also avoid making impulse purchases while out shopping or at the grocery store by putting away your credit card before you go.

Finally, by automating your finances now and getting into the habit of saving small amounts each day or week, it will only get easier as time goes on!

Cut the Extras from Your Budget

There are several ways you consider for cutting extras from your budget. If you don’t drink alcohol, eliminate the expense by not buying it in the first place. If you buy toiletries in bulk like soap, shampoo, or toothpaste, purchase less expensive brands instead of higher priced ones.

You could also cut out eating out by preparing meals at home instead of going to restaurants or fast food places. Lastly, find a cheaper gym membership or if it’s not important to work out every day then don’t have one at all!

Measure Twice Before Buying New Items

When you live alone, it’s easy to spend money on things you don’t really need. To make sure you’re not over-spending, it’s important to measure twice before buying anything new.

First of all, take a look at what you already have in your home. Do you have something that would work just as well for the task at hand? For example, if you’re looking for a new stovetop skillet, do you already have one that could be used as an alternative?

Cancel Subscriptions That Go Unused

Cancel subscriptions that you don’t use. For example, getting rid of a gym membership might save you $50 per month. Or, cancel the subscription to cable TV if you’re not using it. Sell Items You Don’t Use Anymore: Maybe you’ve moved on from the Nintendo Wii or iPhone 5s. Find someone who wants what you have and get some cash for your old stuff! Keep Your Space Neat: Putting things away keeps your space tidy which helps with stress relief too!

Keep Track of All Expenses

It might be a bit more difficult to live on your own, but there are a number of ways you can save money when living alone. Make a list of all your expenses and try to find ways to cut back on them if possible. One thing that you should always consider is your cell phone bill.

If you have unlimited data, it could be costing you more than $100 each month depending on the plan you have. Check out some other providers like Boost Mobile or Republic Wireless that offer comparable coverage at lower prices.

You also want to make sure you don’t fall into the trap of buying everything for convenience, like ordering takeout every night or paying for expensive coffee every day. Use grocery delivery services, prepare meals in advance, and buy coffee in bulk so that you can save time and money over time.

Consider Increasing Your Income with a Side Hustle

Do you have any additional time that you could utilize to earn some money? What useful abilities do you have, and what pastimes could you transform into a source of income in form of a side hustle? A few ways to earn extra money include writing, tutoring, childminding, social media support, writing, and creating.

You can set up shop as a freelancer on websites like Upwork, People Per Hour, Fivver, and Task Rabbit. A side business can increase your finances and make you some more money, and we all know that any extra income is welcome.