How to Save More Money Now

The Story

Summer already looks a lot different this year. Why not really confuse your bank account and make it a summer of savings?

How?

COVID-19 has probably been keeping you away from a lot of usual summer fun: bars, concerts, sporting events, Eurotrips, etc. Take that savings and...save it.

Please tell me you’ve got more tips than that.

We do. Here are some other ways to save more now.

• Food: Grocery stores are literally designed to make you spend more. One fun trick: the most expensive, name-brand items are usually stocked at eye-level. Scanning the shelves for better deals and generic brands could save you about 25%.

• Subscriptions: Look at all your regular monthly payments to see what you can either freeze or cancel. This is a good time to think about which subscriptions are worth your money vs. the ones you forgot to cancel after the free trial ended.

• Hobbies: Pretty much whatever you're into right now – games, music, learning a new language – there’s probably a free app for that. You can also borrow free ebooks from the library.

• Housing: If it’s about time to renew your lease, negotiate. Your landlord may be willing to give you a break. You can also ask to pay less for extra expenses, like parking, pet, and amenity fees. If you own, consider refinancing while interest rates are super-low. Do your homework and make sure you’re getting a good deal before re-signing on the dotted line.

Related: Tips to Save on Housing Costs

• Prescriptions: Getting medicine from a mail-order service can be quarantine- and budget-friendly. If your doc and insurance approve, generic and 90-day supplies could also save you money.

theSkimm

Summer can be an expensive season. Take advantage of *gestures at all of this* to add to, not subtract from, your savings account.