Ways to Save Money on Everyday Expenses in Fall 2021

• Author: Bryan Miller
• Posted: 2024-08-24

Everyone has to spend money every day to meet the regular costs of living. Food and fuel costs continue to rise as the economy is recovering from the pandemic recession, so saving money in other ways is important for your financial health. Here are some tips to save money this fall and be able to put aside more into the bank.

Stick to the Store Brand

When grocery shopping, many people have the temptation to buy only brand name items on the belief that it is higher quality. Name brand items can cost at least twice as much as the generic products beside them that come from the same suppliers. The only difference between the food inside the package of a store brand versus a name brand is only the label. The way that generic brands work is by cutting out the middlemen in the supply chain and buying directly from the supplier. Consistently buying store-brand food can lower your grocery bill by up to 50%.

Don't Drink Bottled Water

Bottled water can cost hundreds of times more per ounce than water that comes out of the tap. Many people believe that drinking bottled water is healthier, but with the right water filter, tap water can be much better for your wallet. Instead of paying several dollars for a pack of 24 or 35 water bottles, you can get that same amount of water for pennies in your water bill. The only thing you may prefer to do is to buy or install a water filter in the form of a pitcher or sink addendum, but that is only a one-time expense that does not often recur. The upfront cost of a drinking filter will quickly pay for itself over the costs of buying bottled water.

Never Smoke

Most people were taught to never smoke cigarettes by their schools or families when they were young. Not only are cigarettes one of the worst and deadliest things you can do to your body, but the government taxes them very steeply to discourage sales. Depending on the jurisdiction, one pack of cigarettes can cost upwards of $7, which will quickly add up if you smoke a lot. Many people who innocently decide to smoke a cigarette a few times end up suffering from a lifelong smoking addiction, so it is important to never start. Once you start smoking, it is extremely difficult to stop. Smoking habits are financially devastating because cigarettes have become so expensive. To be able to save your money for other more important things, never pick up a cigarette. It will avert the most preventable cause of death in the United States.

Always Pay Your Credit Card Bills on Time

Credit card companies make a lot of their money off the backs of suffering debtors stuck in a spiral of rising interest. In order to never get stuck with steep interest payments and accumulating debt, make sure to always keep your credit card spending within your budget and pay your bills on time. The most effective way to avoid credit card debt is to accurately keep track of spending and treat your card like cash. This way, you are always sure that you are not making purchases you cannot afford. Credit card companies have a business model that preys on working people who struggle to pay debt and interest, so avoiding falling into their trap will maintain your financial health.

Set Aside Money Automatically

When you get your paycheck at the end of two weeks or the month, it is very important to set aside a certain percentage to put away in your savings. Many banks have features that allow for automatic transfers of deposits into a separate savings account, which takes away any headaches of needing to remember it on your own. The importance of setting up and maintaining an adequate emergency fund has been proven over the economic downturn in the last year and a half. If unforeseen circumstances such as a job loss or medical emergency arise, you will need extra money saved to be able to pay for everything and keep up with your bills. Without this, chances are that you will need to take high-interest loans from predatory lenders to cover your everyday expenses. To avoid this situation, make sure that you have a certain percentage of your paychecks automatically saved.