Nine BARK'N Ways to Save Money

Inflation is affecting everyone. Now is a great time to learn ways to save more and get more value out of your hard-earned money. Saving more can require a little work and dedication, but there are tride and true methods to lowering your expenses and stashing more cash away for the future. Here are the top 9 most effective ways to save more according to The Market Dog.

Tackle unnecessary debt

Debt can be a useful tool when acquiring useful assets like tuition for your education, a practical car, or a mortgage on a house. Debt starts becoming a liability when you start carrying a balance on your credit cards or taking out loans for non-productive reasons. The interest rate you pay on your credit cards is counterproductive to the investments and savings you have. Living within your means and not having unnecessary debt is crucial to saving more.

No spend challenges

So much unnecessary spending comes from social pressures from your friends to do things in your off time for fun or to keep up with whatever everyone else is doing. The thing is, it's not like these people are going to pay your bills and nobody really knows what these other's finances look like. Turn these social and peer pressures upside down and challenge your family and friends to a no spend challenge. Whether it's for a day, week, or month, be open with your peers and family that you're trying to save money and find more activities you can do together that's free.

Talk to your future self

The more you can plan for what you need in the future, the more you can save and the easier it is to begin working it into your budget today. Regularly think about what your needs will be in the future and even think about what a conversation would sound like with your future self. So much of what were tempted to spend our hard-earned money on in the present offers immediate gratification but has no long-term value and comes at the expense of our future self's quality of life and financial well-being.

Get Cooking

You've probably seen this suggestion before, but it really is a great way to save money. The key is to get creative with as little ingredients as possible or make recipes that reuse things you've already bought such as spices and produce. There are so many ideas for recipes online just waiting for you to try. Cooking for yourself and your family helps you avoid the huge markup restaurants have on their food including taxes and tips, which ends up being a lot more money for a lot less food.

Upcycling

Upcycling is one of The Market Dog's favorite ways to save money. Not only are you reusing items that would have been discarded anyway, but you're tapping into your creativity to create something with a new purpose. Research the countless number of ideas online for the repurposing of everyday household items.

Rewards and loyalty Programs

Make sure to take full advantage of reward programs credit card companies offer. Also, don't overlook loyalty programs certain stores and brands offer. Even your favorite tech platforms have rewards and loyalty programs. Making sure you're utilizing these benefits on your needs as opposed to your wants can fully maximize your savings.

Exercise Routine

Ok, I know what you're thinking. How do I save money by having a exercise routine? Getting regular exercise has so many health benefits that it's almost a guarantee you'll save big on present and future healthcare expenses.

Change energy usage behaviors

Altering your behavior throughout the day and taking a more conscious approach to how you use energy can save you big over time. Good examples of this are not using hot water for laundry, using a clothesline or drying rack, shorter showers or sponge bathe instead, wearing warmer clothes in the winter, using fans in the summer, etc.

Learn the philosophy behind minimalism

Minimalism is an interesting philosophy. At the core of minimalism is embracing simplicity as a reaction to a seemingly complex and complicated world. The foundation of this is based on a "less is more" mindset. The more one learns about this mindset, the more it can become part of a frugal lifestyle where quality is emphasized as opposed to quantity.

Keep checking in to The Market Dog to explore more topics regarding the economy, markets, investing, and your savings.