During the lockdown days of the pandemic, many of us were barely leaving the house. If we did leave the house, it was usually just to go to work, maybe to the grocery store, and maybe through a drive-thru if we really wanted to treat ourselves. Travel was at an all-time low, and so was our travel spending.
However, now that restrictions have lessened up and vaccines are widely available, many Americans have been engaging in what economists refer to as “revenge spending” in recent years. In 2021 and 2022, there was a surge in how much Americans spent on vacations and recreation and, in part because of that surge, prices also soared.
Where does that leave us now, in 2023? Well, many of us have gotten the revenge spending out of our systems and now we’re trying to replenish our savings accounts. It makes sense: we were deprived during the pandemic years, we spent a lot of money to make up for it, and now we’re googling money saving tips in an attempt to tip the scales yet again and get our finances back into the black. But if you’ve never tried to save money before – or even if you have – it can be hard to figure out where to start. In this article, we’ll outline a handful of easy money saving tips that won’t leave you feeling deprived all over again.
1. Cook at home more often.
I know, I know. Fast food is delicious, it’s nice to have the freedom to go to restaurants again, and food delivery is just so damn convenient. But if you can commit to cooking at home at least a couple of times per week, the savings will add up. If you’re not good at cooking, start with easy meals. Cooking at home doesn’t have to be crazy complicated and it doesn’t have to make a big mess. There’s a wide range of one-pot/one-pan meal recipes out there, guaranteed to save you money and time while still being delicious. You can also get yourself a loaf of bread and make some sandwiches. Buy ingredients you know you’ll like and go to town. Any bread you have left over can become toast, or even garlic bread if you’re feeling fancy.
2. Use cash.When you use a credit or debit card, it doesn’t feel like you’re spending real money, but you are. If you pay in cash more often, visually seeing how much money you have left will put it into perspective, which may lead you to spending more frugally. Then you can stash away any extra dollars or coins you have left over at the end of the day, the week, or the month, and watch it add up over time. This is one of the easiest ways to save money without even thinking about it.
3. Don’t buy drinks at venues.A lot of us have been going to more sporting events, concerts, and other live experiences than ever before, in part due to the “revenge” factor we were talking about earlier. But here’s one pro tip from the author of this blog, who goes to concerts a few times a month: don’t buy drinks at venues! (That applies to stadiums, too.) You’ve already spent money on the ticket to get there, and drinking in public is notably more expensive than it is at home. Many venues will charge, like, $8 or even $12 for one beer or one mixed drink. Don’t pregame if you plan on driving, but if you’re riding along with friends, pregaming could be a viable option. You could also try going sober, it’s up to you.
If you really want to imbibe while you’re out, just buy one tallboy, sip responsibly, and refill the container with free water. That way, you’ll feel like you’re still drinking and you’ll have the sensation of carrying – and sipping from – a can, but you won’t be spending any extra money or doing any extra damage to your liver. Not only will your wallet thank you, so will your health.
Speaking of beverages, switching to tap water when you go to restaurants or fast food places will also help you save a little extra money! That $2 or $3 you’ll be saving by not buying soda will add up before you know it, plus water is infinitely healthier for you. That’s a win-win!
4. Invest in high-quality items.
It seems kind of backwards, but if you pay a little extra for quality, you’ll end up saving money in the long run. For example, high-quality clothing is often designed to last a lifetime, so you won’t have to replace it as often. The initial cost may be more, but cheap clothes fall apart easily, plus they don’t feel as nice on the skin as high-tech fabrics do. Buying high-quality pieces feels luxurious but, ultimately, you’ll be saving money down the line by doing so.
If you’re looking for high-quality underwear designed to last a lifetime, you’re in the right place. Check out Leo’s wide-reaching range of underwear for men, designed with high-tech materials and supportive details. The best thing is, if you invest in high-quality underwear, you won’t have to replace it for a while. The money that would be going towards repeatedly buying cheap underwear can go into your savings account instead!
4. Invest in high-quality items.What services are you really paying for? Are you being charged monthly for streaming services, apps, memberships, or other subscriptions? If you’re paying $9.99 a month for a streaming service, for example, that can add up over time! There are multiple programs you can use that will check this for you, but you can also just go through your bank statements and look for recurring payments. Comb through the services you’re regularly being charged for and ask yourself: do I really need this? If not, it’s time to cancel that subscription and save yourself some easy money every month.
Several ways to save on electricity.Home is where we’re supposed to be comfortable, but many of us spend way too much on electricity every month. Most energy spending goes towards heating, cooling, and lighting. Here are some ways you can cut down on your power bills without feeling too deprived. Open the curtains: Many of us leave the lights on at home during the daytime without even thinking about it. If you leave the lights off during the daytime and let natural light flow in through the windows instead, not only will you save money, you may also notice an improvement in your mental health. Also, get into the habit of turning the lights off whenever you leave a room. These little changes can definitely add up over time and save you money.
Dress for the weather: Although many of us keep our houses cold during the summer and hot during the winter, messing with the AC just a little can save you a lot of money on your power bills. Experts recommend setting your heat to 68°F or cooler in the winter, and 78°F or warmer during the summer, in order to optimize your power usage. That may sound unbearable, but here us out – there’s a better way. Instead of running for the dial, try switching up your clothes. In the summer, wear light clothes including shorts and t-shirts made of fresh fabrics. (Keep in mind that lazing around in your underwear is also an option, especially if you live alone!) In the winter, wear layers in the house and keep a blanket on you at all times. By dressing for the weather, you can create your own comfort without having to spend a lot on electricity.
Saving electricity isn’t just good for your wallet, it’s also good for the environment. Here at Leo, we’re all about helping the planet, which we do by creating slow-fashion pieces using eco-friendly practices. In addition to choosing slow-fashion underwear like Leo’s, another easy way you can help the planet is by cutting down on your electricity usage!
What do you think – do these money-saving tips sound doable? Let us know below.