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10 Ways To Save $100 More Each Month

1. Draft A Monthly Budget

So, where do we begin? Well, the first step in saving money often involves understanding what we’re spending it on. Sure, you may know your big-ticket monthly expenses like rent or mortgage payments, but what about that daily Starbucks run or regular Uber rides? Unequivocal grasp on your spending habits will allow you to spot areas of frivolous expenditure and cinch them up.

Setting a budget can help. Moreover, having one is fundamentally a roadmap of your finances. Knowing precisely how much comes in and how much goes out can make a world of difference towards achieving this goal of saving $100 a month. Budgets simply paint a game plan for your finances every month.

You might be wondering – wouldn’t keeping track of all these transactions be painstakingly meticulous and time-consuming? There are tons of applications out there designed to simplify this process for you.

Imagine a young professional who uses an app to monitor his grocery spendings. He finds that he purchases more food than necessary, leading to waste. Thus, he starts planning his meals better and only buying what he needs, saving him around $30 a month.

• To start, identify your needs (utilities, rent) and wants (restaurants, shopping).
• Use online budgeting tools to automatically categorize your expenses.
• Set clear goals for yourself (e.g., save $100 a month).
• Monitor your progress and adjust your budget accordingly.
• Consider a zero-based budget where every dollar has a destination in advance.
• Don’t forget to include a little fun money in your budget.

2. Cut Unused Subscriptions

Let’s talk entertainment. How many subscriptions are you paying for each month? Netflix, Hulu, Amazon Prime, Spotify – they can add up quickly, and more importantly, be forgotten about just as fast. Though seemingly minor, these hidden costs can pile up and prevent us from saving that $100 each month.

The key here is to keep track of your subscriptions and eliminate those you don’t use enough to justify their cost. This may involve shedding some services, paring down others to free or lower-cost versions, or sharing among friends or family where appropriate (within terms of service boundaries, of course).

For instance, Lisa realized she was paying for both an Amazon Prime membership and a Netflix subscription. However, she mostly watched Amazon Prime series and rarely used Netflix. She decided to cut her Netflix subscription, which saved her around $14 per month.

• Make a list of all your online subscriptions.
• Evaluate how frequently you use each one and if it’s worth the cost.
• If possible, switch to a cheaper plan or version.
• Consider sharing subscriptions with family or friends.
• Unsubscribe from unused services, no matter how small the fee may appear.
• Keep track of your payments monthly so no new unwanted subscriptions slip by.

3. Prepare Meals at Home

Does this sound relatable? You’ve had a long day at work, you’re tired, and the last thing you want to do is cook yourself dinner – so you resort to takeout. It sounds convenient at the time, but the strain on your wallet isn’t always as evident. The cost of restaurant meals and convenient pre-made foods at the grocery store can add up quickly.

Making food at home not only helps you save some cash, but it’s also typically healthier and more comforting. Clearly, cooking at home is a clever way to cut back on spending without sacrificing delectableness.

Consider Sarah. Every day at work, she used to buy lunch, costing around $10 each time. Then she started bringing food from home, reducing her spendings to around $4 per meal, and saving her over $130 a month.

• Create a weekly meal plan and stick to it.
• Prepare meals in advance (meal prep) to save time during the week.
• Eat leftovers whenever possible instead of throwing them out.
• Opt for home-cooked versions of your favorite take-out meals.
• Bulk buy items you use frequently to cut back on grocery bills.
• Grow some herbs or vegetables at home if you can.

4. Limit Your Cafes Visits

Can’t imagine giving up your daily latte or cappuccino? You’re not alone. Many of us enjoy regular visits to our favorite coffee shops without realizing how much these expenses add up. But considering how easily cafe drinks can cost $3 to $5 each, this habit could be keeping you away from your $100-a-month savings goal.

But don’t despair just yet. This doesn’t mean you must quit cold turkey. Making coffee at home most days, but treating yourself to cafe-made java once in a while is a sensible compromise.

Think about Amy, who used to purchase her morning latte that cost her about $5 every weekday. By deciding to make her coffee at home, she managed to save about $80 each month.

• Invest in a good coffee maker, which will ultimately save money in the long run.
• Experiment with different types of brewing methods at home.
• Buy high-quality beans to replicate the taste of cafe-bought coffee.
• If you truly miss your cappuccinos and lattes, consider a second-hand espresso machine.
• Treat yourself to a cafe-drink once in a while, but make it an exception rather than the norm.
• Avoid buying overpriced snacks at cafes and instead opt for homemade alternatives.

5. Buy Second-Hand

Sometimes, especially dealing with bigger purchases, you might be hesitant to buy second-hand items. But finding pre-loved treasures not only aids towards our saving goal but also is eco-friendly! It’s beneficial for clothing, furniture, tech, and more.

This option involves developing a keen eye for good deals and not being shy about haggling when necessary. It’s all about having a bit of patience and understanding that sometimes, waiting for a right second-hand deal to pop up can save you heaps than rushing into buying new.

Consider Mike who was in need of a couch. Rather than purchasing a brand new one for $800, he looked online and found a nice, barely used couch for $300—totally comfortable and saved him around $500.

• Browse second-hand stores or online platforms before making large purchases.
• If an item seems overpriced, don’t be afraid to negotiate.
• Inspect used items thoroughly before buying them to avoid costly repairs later on.
• Opt for refurbished electronics—they’re often as good as new and come with a warranty.
• Sell your own unwanted items secondhand—it’s another way to make extra cash.
• Remember, it’s not just about buying used clothing—you can find everything from appliances to car parts.

The other half of the list will detail ideas such as reducing utility bills, carpooling, shopping on sales, using cashback and rewards programs, and lowering phone bills.

Given these tips, these savings can add up quickly and effortlessly, helping you achieve your financial goal easily. The key is consistency and being mindful about where your money goes.

| Ways to Save | Potential Savings per Month |
| — | — |
| Drafting a Monthly Budget | $30 |
| Cutting Unused Subscriptions | $14 |
| Preparing Meals at Home | $130 |
| Limiting Cafe Visits | $80 |
| Buying Second-Hand Items | $500 |