We’re so far past New Year’s Day that it’s almost time to start thinking about your 2016 resolutions. All those good intentions and big plans you had in January are but a memory, and as the year comes to an end, we all still have goals left unfinished. Chief among them: Saving money. With the holiday season fast approaching, now is the time to get serious.
Let’s say you want to put away $1,000 before the end of the year. It’s definitely doable — and you don’t have to sit at home every night eating canned beans and suffering from FOMO. You just have to cut back where it counts.
Ahead, 10 cost-cutting ideas to try to put you on the path to having a cool grand in the bank before it’s time to count down to 2016. (And if $1,000 is too lofty a goal, we still recommend trying these tips to trim your budget — when it comes to your savings account, every little bit really does help.)
If you’re spending $60 to $80 a month on cable (at least), it might be time to cut the cord. With Netflix, Hulu, Amazon Prime, and HBO Now, you can watch almost everything on your computer without the expensive cable bill. (Most internet services don’t cost more than $50 per month.)
And really, doesn’t “sharing economy” encourage the sharing of HBO GO passwords (or, um, stealing them from your parents?). Yes, this is the Golden Age of TV, but it’s also the Golden Age of the spoiler alert. Who watches anything in real-time these days?
Savings: $60+ per month
Cutting back on coffee spending won’t make you a billionaire (well, depending on how much coffee you drink), but if you’re spending $5 per day on soy lattes, that’s $140 per month and about $400 between now and New Year’s. If you swap it for a regular coffee instead, it’ll save you about $200 between now and the end of the year. Drinking regular coffee isn’t the worst thing in the world — especially when your bank account is $200 fatter. (Need the soy milk? Stash a carton in the office fridge!)
Savings: $200+
It’s hard not to lust after miracle serums, magical moisturizers, and otherworldly eye creams that promise to give you the skin of an airbrushed Kardashian. The problem is, those mystical beauty products are usually expensive as hell. But that’s where free samples come in. Instead of spending $40 to $80 on a vitamin C algae sea kelp serum, score free samples from Sephora, Bloomingdale’s, or Nordstrom. All you have to do is ask. Nicely.
Case in point: I got two free samples of an $800 moisturizer at Bloomingdale’s recently. Granted, the samples are the size of a postage stamp, but if you collect enough, you’ll be set until the end of the year.
Savings: $100+
Maybe when you hear the term “clipping coupons,” you imagine yourself old and gray, wearing a robe and slippers, sitting at a sticky kitchen table with oversized scissors and the weekly circular. Coupon clipping is not lame! And more and more, you can “clip” them digitally.
You can save up to $15 to $20 per grocery store trip if you’re diligent about it. Use apps like Grocery Pal, Grocery IQ, and sites like Coupons.com. Shopping online? Add the Honey browser extension and you’ll be guaranteed to have the most up-to-date coupon codes wherever you shop.
And curb that Whole Foods habit for a while — all that $6 asparagus water adds up.
Savings: $120+
Are you regularly paying $30 (and up) for SoulCycle? What about those $20 yoga classes and $17 Cardio Barre sessions? If your monthly budget includes $90 per week for workout classes, it might be time to reprioritize in favor of your savings account — at least until the end of the year. Cutting out the classes altogether can save you $900 between now and New Year’s!
Of course, we don’t want to suggest you stop working out — you can just try out some cheaper options. Maybe there’s a mom-and-pop spin place nearby with a monthly $40 unlimited class deal. Before it gets too cold, you can take your workouts outside — running and biking are basically free. You can also do workouts at home — there are countless videos available on YouTube, including some pretty classic Jane Fonda clips.
Exercise should definitely be a priority, but cutting back on the fancy classes can save you big bucks in the short term. And come January, there will be so many workout deals you can hop back on the wagon.
Savings: $30+ per week
The only thing worse than haggling might be haggling with the phone company, but this can be a big money saver — especially if you have been a loyal customer. Call your provider and ask for the retention department (Most providers have one. If they play dumb, just say, “Then please connect me to the equivalent of the retention department.”) to negotiate a lower package. If you’re nice and calm, and if you politely, but firmly, ask them how they can help you cut down you bill, they will usually find a way. (Doesn’t hurt to mention that you’re shopping for another carrier.) The savings can be as little as $10, but it can also be as much as $50 (per month) — and really, every penny counts.
Savings: $20+
Instead of eating out seven nights a week (including ordering takeout — sorry), stay home and cook dinner. It doesn’t have to be elaborate (in fact, it really shouldn’t be, or you’ll end up overspending on ingredients), and you’ll save a ton of money.
You’re paying at least three times more for food at restaurants (it’s near impossible to dine out for less than $25 per person), and it’s easy to spend $15 or more on your Seamless dinner orders. Seven nights a week is $105! You can save $1k by January simply by changing your dining habits.
If you think you’re hopeless in the kitchen, just remember: Ina Garten is not a superhero. She’s just a woman who taught herself how to cook stuff. (Same goes for Julia Child!) Test your skills with this recipe for roasted chicken with tahini. Or, you can spend 15 minutes throwing together portabella-avocado tacos. Delicious and cheap.
Savings: $200+
If you think spending money on food when you go out is pricey, just remember that they’re seriously jacking up the price of alcohol at bars and restaurants. Have you ever bought a bottle of wine at the store for $15 and then ordered a glass of that same wine at a restaurant for…$15?
On those nights you’re looking to have a few drinks, consider keeping the party local — as in at your apartment. Have your friends bring a bottle or two, or pick up some cheap vintages from Trader Joe’s (you can go as low as the Three-buck Chuck, but you don’t need to be that cheap). Swapping one or two nights out, where you easily drop $40 to $50 on drinks, for a fun night in can save you $30 or more.
Savings $100+
Movies are pricey enough (we recommend hitting up a matinee), so instead of paying $6 for a jumbo-sized Sprite (Seriously, who needs that much liquid?) or $8 for some stale popcorn, stuff your bag with snacks from Trader Joe’s or Walgreens, instead. Hell, sneak in a bottle of wine if you want. Just make sure it doesn’t topple over and roll down every step in the theater.
A word to the wise: Regal Cinemas has started searching bags because of safety concerns, which can make the sneaking of snack foods a little more difficult.
Savings: $20+
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