Saving an Extra $20 Weekly
Every dollar saved counts towards achieving your financial goals, whether it’s building an emergency fund, paying off debt, or saving for a dream vacation.
While you may already have a budget in place, there are often overlooked ways to save an additional $20 weekly.
In this article, we’ll explore some lesser-known strategies that can help you boost your savings without a significant lifestyle change.
Cash in on Cashback Rewards
Many credit cards offer cashback rewards on everyday purchases. Review your credit card rewards program and make it a habit to use the card that offers the best cashback percentage on your most frequent expenses, such as groceries or gas. Over time, these cashback rewards can add up to significant savings.
Utilize Grocery Rebate Apps
Take advantage of grocery rebate apps like Ibotta, Rakuten, or Checkout 51. These apps offer cashback on specific products or for shopping at particular stores. Scan your receipts and claim rebates on items you already purchased to save extra money each week.
Cut Down on Subscription Services
Review your monthly subscriptions and identify those you can do without or downgrade. Many subscription services offer different tiers, and you may find that you can save money by opting for a lower-cost plan while still enjoying the content or services you love.
Plan Meals and Avoid Food Waste
Meal planning is not only a time-saver but also a money-saver. Plan your meals for the week, create a shopping list, and stick to it. By reducing impulse purchases and minimizing food waste, you can save on your grocery bill.
Embrace Meatless Meals
Consider incorporating more meatless meals into your diet. Meat can be one of the most expensive items on your grocery list. Experiment with vegetarian or vegan recipes to reduce your weekly food expenses.
Save Spare Change
Start a spare change jar or utilize a digital equivalent like the Acorns app. These tools round up your everyday purchases to the nearest dollar and invest the spare change. While it may seem small, it can accumulate over time.
Explore Cashback Portals for Online Shopping
When shopping online, visit cashback portals like Rakuten (formerly Ebates) or Honey. These platforms offer cashback on purchases made through their links. It’s a simple way to earn money back on online shopping.
Automate Savings
Set up an automatic transfer from your checking account to your savings account each week. Even a small, regular contribution can quickly add up to $20 or more per week without much effort.
Cancel Unneeded Memberships
Review any club memberships or organizations you’ve joined. If you’re not actively using the benefits, consider cancelling them to free up funds for savings.
Negotiate Bills
Contact your service providers for bills like cable, internet, or insurance. Negotiating for a lower rate or switching to a different plan can result in immediate savings.
FAQs
How can I find the best cashback credit card for my spending habits
Research credit card options and consider factors like your spending patterns, annual fees, and rewards structure. Websites and apps like Credit Karma and NerdWallet can help you compare and find the right card for you.
Are grocery rebate apps safe to use?
Yes, reputable grocery rebate apps are safe to use. They typically require access to your receipt information to verify purchases and process cashback rewards. Always read the privacy policy and terms of use before using any app.
How can I track my spare change savings through a digital app?
Many spare change apps like Acorns link to your bank account and track your daily purchases. You can monitor your savings and investment progress through the app’s interface.
Can negotiating bills lead to significant savings?
Yes, negotiating bills can lead to meaningful savings. Many service providers are willing to work with customers to retain their business and may offer discounts or better terms when asked. It’s worth the effort to inquire about potential savings opportunities.
Also Read: Maximizing Returns: How to Make the Most of Your Savings Accounts
