Simple Ways To Save Money This Weekend
We tend to underestimate the power of small savings, and the potential of these small savings to add up. On this post, we looked at the Snowball Method of paying off debt: a complement to this method is the Snowflake Method, which basically states that you should make small savings on your day to day expenses (snowflakes), which you use to pay off your debts, building your snowball.
Today we look at tweaks you can make to your lifestyle this weekend that will generate snowflakes. Remember to actually save the money in a separate account (or even a piggy bank), and use it to reduce your debt (or invest).
Save on transport expenses
1. Plan your errands carefully, and you will save significantly on fuel. Most of us don’t make a journey plan before leaving home for errands, and for that reason tend to drive longer distances than we should, sometimes even driving in circles. Thinking beforehand could lead to a higher level of efficiency in the way you do your errands.
2. You have more time to move around over the weekend. Use public transport instead of driving on Saturdays (and even Sundays). Put the money you save in a piggy bank.
3. Get busy during off peak hours. Do your errands early in the morning before everyone wakes up and jam packs the roads. This will not only save you time spent in traffic, it will save you on fuel and bus fare. Buses are dirt cheap on Saturday mornings.
Save on Food
1. Vow to never buy bottled water. Invest in a good water bottle and fill it at home in the morning, and carry it around with you. Most restaurants will allow you to drink from your bottle, if they won’t, just hold off on the thirst till you get to the car.
2. Eat at home, drink out. Unless it’s unavoidable, have your main meals at home, and when you have to meet friends at restaurants, opt for a drink or a light snack. Do not set meetings around meal times, to avoid the temptation to eat just for the sake of it.
3. Go to the farmers market, and buy groceries to last the whole week.
4. Cook enough food for the week over the weekend. Packed lunches could save you up to Kshs 200 daily depending on where you work, adding up to a saving of Kshs 60,000 in a work year.
Save on Entertainment
1. Do you really need satellite television? How many hours do you spend watching TV daily? If you actually watch enough TV to justify all the 200+ satellite TV channels, then we need to have a talk about your productivity levels. Switch it off, or at least downgrade your subscription. Instead get downloads of your favourite shows.
2. Do you need unlimited home internet? This post suggested that we don’t need unlimited internet at home. According to this article, Kenyan youth spend at least Kshs 250 daily on airtime, how about you reduce your airtime spend by 10%? Choose to switch off the gadgets for 2 hours every day, use that time to meditate or talk to loved ones. That will save you a cool Kshs 10,000 a year, and you end up a much better person. I plan to switch off my internet connection on the phone for at least 2 hours daily, because I don’t want the words “she had a great smart phone” engraved on my tombstone.
What other simple things can we do to save money over the weekends? Do share in the comments section.
Here is to a frugal weekend! 🙂
