Easy Ways to Hack Your Savings Strategy


Having trouble reaching your savings goal?

You’re not alone. Many of us start with the best of intentions, browsing through our bank statements for insights into where we can cut back or lower our monthly bills. However, when switching to a new electricity provider, and turning the lights off when we leave rooms doesn’t work, it’s easy to start losing hope.

If you think you’ve tried all of the common ways to improve your savings strategy already, and you need something new, the following tips could help.

1. Negotiate with Credit Companies

When’s the last time you questioned the interest rates that you’re paying on loans and credit cards? Most of us never do. We assume that we have the best deal that we can get, and just keep paying the minimum off for as long as it takes. However, if you took out a loan a while ago, then there’s a good chance you could save some cash by consolidating it into a new debt.

You can also consider speaking to your credit card or loan company and ask them whether there are any deals you can take advantage of. If you’ve been consistently paying off everything you owe for a while now, they might be able to give you some benefits.

2. Drink More Water

This is one of the best budgeting strategies in the world, but most people have never heard of it. Drinking water is often recommended as a great way to protect your health, but it can improve your budget too. When you drink a lot of water, you don’t spend as much cash on expensive drinks from cafes and vending machines around the office. This is particularly true if you’re taking a reusable bottle to work each day.

Drinking plenty of water before each meal also helps you to stay fuller for longer, so you’re less likely to over-eat and feel bloated. We particularly recommend drinking water before going out for dinner, as it will reduce the amount you spend at fancy restaurants.

3. Make Extra Batches of Great Meals

If you have some easy meals that you love eating, the next time you’re preparing a batch, why not make extra? All you need is some plastic containers that you can keep the extra food in, and a freezer with plenty of space. The extra portion will come in handy the next time you’re wondering what to eat, or you’re sitting at home exhausted after a long day at work.

Preparing meals in advance reduces your risk of over-spending on takeout meals and fast food. Additionally, if you’re making extra of the meal, you can also buy more ingredients in bulk, which opens you up to additional savings too.

4. Buy Quality

There are some items that you shouldn’t be overspending on. It’s unlikely that the cereal you buy from the store’s own brand will taste any different to the one that comes in a fancy box, for instance. However, when you’re buying something that you’re going to be using every day, then it pays to invest in quality. For instance, if you’re going to be getting a new washing machine, consider taking out a slightly larger loan so you can afford a more reliable and energy-efficient model.

While spending more on these appliances might mean that there’s more cash going out of your account now, you will eventually save more because you won’t have to replace or repair the item as often. For instance, if a refrigerator costs you double the price of an inexpensive model, but it lasts three times as long, then it’s definitely worth the extra money.

5. Make Your Own

Learning how to make your own versions of things is an excellent way to save money and become more self-sufficient. For instance, a lot of people think that making home-made bread is complicated. However, once you figure out how to do it yourself, you could discover that it’s much cheaper, tastier, and healthier than getting a load from your grocery store.

The same rules apply to lots of things that you can make on your own. There are tons of recipes out there for natural cleaning solutions that work just as well, if not better than the chemicals you can get from the store. Additionally, you can also find recipes online for things like making your own takeaway meals. There’s no limit to what you can accomplish with a little creativity and dedication.



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