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In 2022, food prices increased by 9.4% on average in the year to April. This marked the largest rise in 40 years.

Rising inflation is making life more difficult for many as people struggle to afford necessities such as groceries, gas, and rent. And earning to manage your finances and planning ahead is becoming crucial in order to survive.

Luckily, often it starts from simple steps and changes in spending habits. This thread has people sharing simple and useful financial life hacks they swear by, so you may want to get your notes ready!

#1

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Inherit a large amount of money. It’s the secret they don’t want you to know about

_njhiker , Andrea Piacquadio Report

#2

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Adjust what you think your zero is. Everyone has that "oh s**t I'm broke" number-- I just inflated mine so I think I'm broke when I'm not. If I have $1000 in my bank account, I treat it like $0. $1050 is treated like I have only $50. It's weird, but it's been working so far.

Clandestinechic , Karolina Grabowska Report

#3

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Don't spend money you don't have! It's a revolutionary concept, I know, but it really works wonders.

Fickle-Farmer-1402 , energepic.com Report

#4

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Eat before you go to the store and always make a list and stick with it.

Mac_nocheeze , Jack Sparrow Report

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Kazza
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I try to shop for groceries online for delivery. That way I'm not tempted as much to impulse buy. Not 100% fool proof though.

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#5

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Every time you get a raise, hide it. Increase your 401(k) contribution, or put it into an IRA, or invest in stock, or just put it aside in savings.

In other words, don't get used to a higher level of consumption. This is especially important when you're young.

LetsPlayCanasta , Pixabay Report

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Kathryn Baylis
Community Member
1 year ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Yeah, but you really need to get to a point of consumption where you’re living, instead of just barely existing. Problem is, so many people are barely scraping by, living hand to mouth, one paycheck away from living on the street, even though they’re exhausting themselves working multiple jobs. Once we get people being paid livable salaries for ONE job, then we can advise them to put any increase in their salaries into savings and retirement.

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Channen TTCL
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This ^ I work TWO full time jobs and according to the newly released statistics, I still fall about $5,000.00 short of the lowest number for middle class. In ARKANSAS.

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Jay Son
Community Member
1 year ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

More like "if one gets a raise nowadays". Big if.

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Monday
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Followed by a "if you were already surviving before the raise". Many people would use said "extra money" to actually get medical aid or something.

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Ael
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

These days, pay rises aren't even enough to keep one's standard of living / consumption, let alone raise it...

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Channen TTCL
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Don't have to hide it. It's usually so small that the taxes eat most of the difference it made 🤔

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Lori
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Most raise increases don't cover the increasing cost of living!

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Erica Knapp
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

We call that living below your means... unfortunately, most people don't have the luxury to do so.

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Gabe Royer
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I wish I could upvote this 100x! There's value in spending some of your money on things you enjoy, but don't sign up for a $900 car payment because you got a raise.

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Grace Note
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is a good idea in principle but it assumes a decent living wage to start with. If you're on bare minimum and get a raise that takes you closer to livable that raise cannot be saved.

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foryouwhynot IB
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Doesn’t work when you have growing children at home…that increase somehow always seems to be exactly what is needed to cover the new clothes they just got but grew out of in two months (or tore up on the playground), the extra food since they’re always hungry now and of course all the stuff they broke around the house! It never ends…

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Shannon McGill
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Did you forget about the part where this article opened by saying that food prices increased nearly 10% during the first few months of this year?

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Mark Fergel
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

....or better yet, get the raise and spend it because it doesn't keep pace with the rate of inflation. Honestly, this idea would be great if expenses stayed the same for everyone. But they don't.

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Nicola Roberts
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

My absolute favourite Oscar Wilde quote, anyone who lives within his means lacks imagination.

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Julie Schulz
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Unfortunately most raises barely, or don't, keep up with inflation and the cost of living so it's hard to put that raise into retirement because it means you would be living on less. If your budget is already tight, living on less might not be feasible.

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#6

Ask for small bills only, no dye packs or silent alarms

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#7

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online When you spend money think "Is this worth x amount of time that I spent at work?"

radpandaparty , Valeria Boltneva Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Imagine looking at your favorite bag of chips or candy and realizing it's half of what you make in an hour. You could get payed in two bags a chips for an hour of work.

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#8

Don't cosign anything for anyone

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Mtownmick
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Understand the point here. Did it for my stepson to buy a house. He qualified but they didn't like the fact he was in construction and the hours varied. He sold that house after five years for more than 40k more than he bought it to leverage his family into a more suitable house. Hate to think how many people get stuck in rentals and can't start earning equity because of this sort of thing.

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#9

Small hack:

If you pay your car off, continue paying your car payment into a new account.

This payment is already in your budget, so you should be used to it.

This new account is handy if you have any car-related repairs you need to make, like having to replace your fuel pump.

When you need to buy a new car, you can either buy it out right or you have a substantial amount to use for a down payment.

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Elizabeth West
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And don't buy another car right when you pay off the other one. Lots of people just keep a car payment instead of continuing to drive the one that's paid off.

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#11

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online I don't smoke or drink. Saves me a lot of money

ChessGuy90 , Sonja Maric Report

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Jay Son
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Funny thing is, when I quit smoking 15, years it so ago, I never really noticed I had more money to spend lol

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#12

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Live below your means.

DrteethDDS , cottonbro studio Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Better than spending more than you make, ig. Life is short though, have fun. Don't spend absolutely everything you have, but don't live worse than you have to

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#13

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Bringing pack lunch, or always have a snack in my bag.

sunnyjooooy , Keegan Evans Report

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sbj
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I like something different everyday for my lunch and as I live alone it is cheaper to buy ready made sandwiches/snacks

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#14

Pay your credit cards in full every month. Don’t overspend. No exceptions.

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jade s
Community Member
12 months ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Not possible when your credit card is for emergencies and the reason you need it is because you can't afford everything in 1 go.

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#15

I started thinking of things in terms of hours worked instead of money. Let's say you make $15/hr. Eating McDonald's after work costs $10, doesn't seem like much. But thinking "I worked 40 minutes for this" has a different psychological effect on me. I'm less likely to buy things with my time than I am with my money, if that makes sense.

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#16

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Use the library for books, CDs, DVDs, and audio books.

SuvenPan , Element5 Digital Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Ah, the library. Bookstores and libraries are my favorite places.

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#17

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online dont buy NFTs

_PM_Me_Easy_Recipes , [deleted] Report

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#18

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Uninstall grubhub and doordash from your phone

Joker8pie , Elvert Barnes Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Wayyy too much to pay when I can just drive a few miles and pick it up myself. Or yk, just not order takeaway.

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#19

Every time I want to buy something big or expensive, I ask myself one question:
Do I NEED this, or do I WANT this?


Both answers are fine, I think it's just important to know WHY you spend money. Beeing mindfull of things is always a good choice in life.

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emowankinemo
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Also sleep on it...9 times out of 10 it was an impulse purchase and I realise I don't need it.

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#20

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Banks are not your financial advisors, don't take their advices. They are a business and think about their profit.

SuvenPan , Ono Kosuki Report

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Lance LaRocque
Community Member
1 year ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

In Canada a financial adviser is regulated and acts in your best interest. Banks normally do not have financial advisers, they have financial advisors. A financial advisor acts in their employers best interest. Check for the "er" or "or" before you invest! Edited for source and additional details. It looks like in about 2017 Canada had about 121,000 registered financial professionals. 4,000 of those could use the title financial adviser. https://www.cbc.ca/news/business/bank-s-deceptive-titles-put-investments-at-risk-1.4044702

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#21

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Our biggest money saver is cooking our meals at home. We bake bread 3-4 days a week ($0.50/ loaf) and grow lettuce, peas, cucumbers, and herbs by a window all winter.

Feel great, more money in my pocket!

Flashy_Remove_3830 , Digital Buggu Report

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Jan Rosier
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Great idea, but 50 cents for a loaf? In Belgium, quality bread costs less at a normal bakery than making it by yourself.

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#22


Always bring your own water bottle!! Ive live off from refills for 6 months and saved a lot of money

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#23

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online I've found recently that I do better with my finances when I check my account on the app every day. It's almost addicting seeing my credit balances lower. I also notice that if I haven't checked it in a few days I've been making bad financial decisions. It's all mental at this point but it's helped since I started doing it last October

Dizzle71 , Andrea Piacquadio Report

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Phandom Apostolis
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

That's what happened in the old days when you had your money in cash in your wallet. Every time you opened your wallet to pay, you instantly saw how much you had left. Nowadays you just swipe a card and nobody tells you what remains in your account.

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#24

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Young people should not be ashamed to live at home for longer. It's crazy how much debt some young people are in, and they could be in a lot less debt if they just stayed home longer.

I know Boomers normalized bragging about kicking your kids out of the house at age 18 and leaving them with no support even though their own parents often helped them buy their first house (yes, that's actually true, and Boomers would prefer that you didn't know this), but that's really not OK.

PS. I'm 53 years old. This post was not made out of self-interest.

Bizarre_Protuberance , Elina Fairytale Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is more of a western thing. It's completely normal for people to live at home for much longer than the age of 18 in other countries. And with housing being as expensive as it is in the U.S. right now, there's nothing wrong with not going into debt and making a smart financial decision.

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#25

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online If you are good at sometime - don't do it for free.

I can plant gardens and mulch them. It's relaxing, fun, easy and rewarding. Some people want a nice garden with edges and mulch. Takes me a few minutes to pick out some perrenials, and order them, with a bulk load of mulch and soil. I can drive it to a house, unload, cut out a garden and install the new one within a few hours, then go to a spot and unload to scrap I dug out (grass usually).

I did this for free for a buddy. His neighbour wanted the same, and I said we could do it. They paid me $500 for a few hours labour and the materials. Now I charge $500 and walk away with $350 profit for a few hours, for the same work I was doing for fun on Sunday mornings.

dumplin-gorilla-lion , Andrea Piacquadio Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I've heard this all my life, and honestly I hate it. This is how you come to resent your hobbies and interests. I like writing short stories and poetry, it's calming and fun. But I know as soon as I try to turn that into a job, I'm going to dislike it.

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#26


Make your own coffee. Starbucks is expensive man.

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ADJ
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Overpriced, and their coffee is just s****y. Even my daughters, once a Starbucks fans, do not go there anymore. You can get better coffee for less money literally everywhere.

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#27


If you smoke cigarettes..QUIT!!!

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#28

get a credit card with good rewards and route every purchase through it. pay it off in full each month and enjoy your free money while simultaneously giving credit card companies the middle finger.

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#30

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online
cook my own meals....not eat out

tetini8674 , Joe L Report

#31

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online When you have a partner and share finances, but you have different styles of managing money, it’s a good idea to keep separate accounts.

When my wife and I got married, we agreed that any expense over a certain amount, we would have to discuss and agree to. That amount is fairly low.

Low-fee market index funds are the best investment.

When you are considering a purchase, give yourself at least 24 hours, if possible, before pulling the trigger.

Mentalfloss1 , Anna Shvets Report

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Huddo's sister
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

One of my friends does this. Her and her husband have a joint account they each pay a certain amount into, then anything extra goes in their personal account, to spend however they want.

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#32

Don't spend money on bottled water and drive slower.

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Jay Son
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'm gonna stick with bottled water for now. My state supposedly has safe water, but after a large navy jetfuel spill and unrelated reports on pfas in our wells and aquifers, I'm not trusting it one bit.

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#33

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online

Buy better quality clothes but on sale. Shop at stores like TJMax and Marshall's, especially if you live in a bigger city next to large malls. They get all of the good stuff that they didn't sell in the mall that season. This way, your clothes will last longer.

tetini8674 , Diego Torres Silvestre Report

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Loverboy
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Second hand clothes are just as good. You'd be surprised the amount of high quality clothes you can find, second hand, that are cheaper because of that.

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#34

Set up an auto transfer to your savings and forget about it. You'll have a savings account in no time, and it doesn't even have to be a big amount.

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censorshipsucks
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

in our country we have a type of account that does this but ALSO puts a time limit on the savings so you can't dip into them, it's called a "call account"

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#35

35 Ways To Save Money That Don’t Require A PhD To Grasp, As Shared By People Online Act like you always broke

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Sander
Community Member
1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

F**k that. Enjoy life. What are you going to do with all that money you saved? *Bur, do save up. You need to have a healthy buffer for when tragedy strikes. Or when you want to buy a house or something.

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