9 Best Ways to Save Money in 2021 – Frugal Tips
What if saving money could be fun? Seriously. What if you made it a fun game where you started hunting for ways to keep more of your hard earned money?
I bet you work really hard. So, making sure you get value from your money is really important.
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Make it a Game: 
There are many ways to save money on this list. Each one has lots of potential savings for you.
For example, I love calling companies and threatening to cancel and asking for a discount. Invariably, they offer a way for me to pay less if I stay with them.
And instead of buying a new item the moment I need something, I love going to garage sales because its uncanny how often they’re selling an item I was about to pay full price for.
Being frugal is like anything else, it takes practice. Some people were raised in a house where the parents set the thermostat and chided kids about leaving the lights on. “Money doesn’t grow on trees.” Some people are just learning how to save. So it may take a while.
Some people thought they had a great career and would simply out earn their spending. I admit to this fallacy. This is a common problem for high earners. It’s only in retrospect that people realize they’re earning a six figure income and spending 110% of it. That was an eye opener for me. More on my debt free journey here
So here are the Best ways to Save in 2021.
Shop Insurance Rates: Rates are always changing so shopping for better insurance rates is an easy way to save some money. Put on the TV and use speaker phone – it takes a few minutes and could save you hundreds or thousands of dollars this year. Geico and AAA typically have the best rates but it’s worth making a few calls.
Ditch Amazon – Do you really need everything within 48 Hours? Amazon Prime renews soon (July/ August) and depending on your subscription can cost about $119. Is it worth it to you? I’m not sure its still worth it for me. And remember you can keep your Amazon account and get two day shipping on anything that’s over $25. So, just bundle your orders. Perhaps you’re a fan of Amazon Prime Streaming Service, but I’m not sure its worth it. And if you miss it, you can always re subscribe.
Plus, Other retailers, including Walmart and Target, are offering free-shipping plans, as well as same-day, in-store pickup, without a $119 yearly membership fee.
Save on Energy: Turn down the A/C. Turn down the heat at night. Get a heater.
I got a great heater for my room. Instead of heating my whole place, I just heat one room and I’ve been able to leave the heat off all night (I live in Southern California) but still it gets cold. It paid for itself in a few months. And this heater is completely quiet. More here
Take camp or Navy showers – Quick showers or cold showers.
I’m experimenting with cold showers. This is actually something related to personal development because there is a lot of research that cold showers are really good for you. The first 30 seconds of my shower are freezing cold and then I turn on the heat. I save money but I really like it and its incredibly invigorating.
Ditch Cable: I ditched cable a few months ago and I haven’t looked back. It’s a nice savings of ~$100 per month and I still have lots of programs through Premium Youtube.
I wrote a whole post on how to ditch cable and still watch sports. More here.
Move to a smaller city: My grandfather used to tell me how much better his life was in a small town. The older I get the more I wish I had listened to his advice. Living in a medium or small city can save you thousands per year and hundreds of thousands over a lifetime. The real issue is whether you are getting value from living in a city and whether the value is worth it.
Find Money Owed to You
True Story: About 15 Years ago after I had left my job I got a weird message on my answering machine. Something about money owed to me. At first, I assumed it was a scam. But, the message had lots of details about me and the check. I did some research and I was owed money.
My last employer sent my last paycheck to an old address and did not reach out to me. Instead, they waited and the money went to the New York State Unclaimed money bureau. Thanks guys. Eventually, I wound up getting my $1,852 back and I was Very Happy.
So, finding money owed to you is a very worthwhile exercise. Take it from me. More Here
Tell Your Kid to Get a Job:
If your kids are thinking about college then finding scholarships and grants should be one of their side jobs. More on popular scholarships and grants here. It’s a bit dated, but a good start.
Wash Your Own Car: Washing your own car can save you nearly $15 a week and it’s also a workout if you do it right. I like my car to look nice, but I’m not willing to spend $884 on a years’ worth of car washes. The 99C store has great microfiber towels and Amazon has all the rest.
Relevant Articles:
45 Ways to Increase your Income
9 Best Ways to Save $7K This Year
11 Legitimate Survey Sites for 2020
Go through your bills and Eliminate wasteful spending
The most obvious wasteful spending for me was a storage locker I was paying nearly $100 a month for. It made me so angry that I eventually began this journey and started writing this personal finance blog.
A Penny Saved is a Penny Earned and realize when you go through your bills that every dollar you can save is earned money.
Don’t dwell on the money that you’ve wasted in the past. Focus on your debt free future. I was paying for auto renew on memberships that I didn’t even remember. But Never again.
I began to explore our current consumer culture and why we buy what we buy. This helped me understand why I was spending so much money shopping. More on Consumer Culture here.
Negotiate Discounts:
For those services and memberships that you like but would like to pay less for, you need to contact the merchants and ask for a discount. Yes, you can do it. And yes they will give you discounts on your memberships: Cell phone carrier, cable company, Satellite radio etc… I’ve written a whole post about How to negotiate Discounts.
Improve your Money Mindset:
One of the best and most readable books on personal finance is the classic, Richest man in Babylon. It contains all the wisdom to help anyone become financially free. It is simple and straightforward, but not easy. I recommend it highly and is worth re-reading every few years.
“A part of all I earn is mine to keep.” – The Richest Man in Babylon (here)
Saving money doesn’t have to be a grim task. Make it fun. Make it a game. It’s your money.
You should get value from every dollar you spend.