7 Simple Hacks to Save at Least 13 Months Money in 1 Year
I threw my wallet.
It isn’t enough to hold the extra money I started earning. I call it earning because I earned them with some simple hacks, otherwise, it would have been an expense and wasted money.
I saved more than I ever could this year. No no, don’t get depressed. I didn’t save my own money (I don’t earn yet), I saved my dad’s money—I mean my pocket money. Don’t tell this to anyone, promise?
We all had some kind of bad experience with money, especially when we don’t get our receivables when we need it the most. That hurts.
We even feel ashamed to talk about money just because we don’t use it to only judge products or items but also human. That’s bad.
What’s cool, the hacks I implemented are so simple, you can save double the money from now on.
1. Mathematical Manipulation …my Sir Now Loves Me
Money is the naughtiest thing on this planet. Don’t believe me? Go chase it and you won’t get it. Try to save it and you’ll spend triple of it.
But… Maths is money’s dad. Nothing is impossible in Maths. You can even manipulate money to save one month of extra money in 12 months.
Let’s say you have to save $400 every month. So, by the end of the year, you’ll have saved $4,000.
Rather than doing that, save every week. A month has four weeks. So, $400/4 is $100/week. You save $400 at the end of the month. At the end of the year, you save $5,200.
If one month has four weeks and a year has twelve months, 12×4=48 weeks. But, we have 52 weeks. So you save one month of extra money (52–48=4 weeks, aka one month).
Takeaway: Save weekly to save one extra month of money.
2. Money Allergy …ouch, It Hurts
You: “Ugh, $1,000 isn’t enough to survive one month.”
But the same you survived with just $200 five months back. That’s not because the price of your favourite deodorant increased. It’s because, now that you earn more, you want to spend more. Ask me why and I have to sadly reply: Because you made your happiness expensive.
Try this: Forget the bank account. Rent a bank locker instead. Then, when you receive your money, separate some percentage of it, at least 20% (the more, the better) and poison it.
Ask your sister to pass that 20% of the money on something you are allergic to (for example, mushroom) or something/someone you hate. Don’t trust your sister? Me neither. Mom is always best. Then, request her to go to the locker and put the money over there.
You can’t ever touch it. It’s allergic!
(By the way, your sister’s touch could also be something you hate.)
Takeaway: Make your happiness affordable and you’ll save more than you ever can. Just touch less money you have.
3. No Bank Card, So No Money …ohh, I Have Emergency Fund
Emergencies, like the pandemic, don’t knock the door before coming.
It’s crucial to have an emergency fund because your health and family is crucial. When you have the emergency fund, you’ll be mentally stronger for any surprise life throws your way.
Every month, save some percentage of the money you receive. Could be 20%. Could be 90%. Anything. But something.
Keep doing this every month. That’s your emergency fund. “Everyone says: ‘get an emergency fund, save in an emergency fund.’ But what the hell is an emergency fund?”
I get you. Nobody truly defines what an emergency fund is.
It’s a fund for six months of your living expenses. Let’s say you need $500 to live off every month. Your emergency fund is $500×6=$3,000.
Do this from next month: Never accept cash or check from your employee/anyone. What should be the reason? You know that one easy excuse during this pandemic. Should I repeat? Here you go: cash/check can transfer the virus.
Create a savings account in a different bank than your checking account. Checking account is the account you use for your daily, go-to transactions and withdrawal. In the savings account, there’s a limit you can withdraw the money without paying a fee. Also, a savings account gives you higher interest but a checking account gives you almost zero interest.
Once the savings account is set up, request for a debit card (you don’t usually get the card as this account isn’t for transactions…you have to request it). Once you get it, break the card. This is to make you feel like you don’t have the card means you don’t have the money (or direct access to the money) so that you don’t waste it.
Ask your employer to direct deposit the money in your checking and savings account by splitting the percentage of the money you set.
Then, forget you even have a savings account. It’s safe in the bank. The interest adds up. Your emergency fund is getting ready.
Takeaway: At the shopping mall: “I don’t have a debit card so I don’t have any money.”
4. Alzheimer’s for 7 Days …yahoo!
Whenever you need something, oftentimes it’s an unnecessary want, not something you need.
Needs are everything that is a necessity (for survival). Wants are good to have, but not essential (for survival).
Your need is oxygen. Your want is carbon dioxide (in cold drinks).
Your need is peace. Your want is one more car.
Your need is eyes. Your want is my post.
Try to forget whatever you think you need for seven days. After seven days, either the unnesecery desire dies (you wholly forget about it because it’s not a necessity) or you get some other alternative. The money is saved.
If you do need something even after seven days, the next tip is for you.
Takeaway: Give seven days and you’ll know whether it’s a need or a want.
5. Drill the Seller …now I’m the Seller
Buy something second hand unless it is too crucial. The money is already saved. Okay, don’t take me too seriously. Don’t buy a vest, underwear, or worst, mask. Ever. Please. (Really, some people are doing it. How are some online portals even allowing it?)
And, use this as a thumb rule: Buy something with double capacity, meaning buy something (second hand or brand new) only when you can instantly buy another of the same product once it is lost or broken. Only then are you truly capable of owning that product. Why? Otherwise just because of unnecessary desire or peer pressure, when you do buy that, you have already made a lot of debt from everyone and debts from people are always bad.
Now go to a little extreme. This trick is easier online. Check the upload date of the item you wish to purchase. If it’s more than one week, it gets easier to negotiate even if it’s a non-negotiable product because the seller couldn’t sell it for one week. Just try it. It works.
One of my friends used to try a similar hack at a God-level:
- If you love fresh food, go to the restaurant first in the morning. You’re the first customer. The owners don’t like sending away their first customer of the day so you can easily eat at a cheaper rate.
- If you love stale food, go just before the restaurant shuts down. You get items at a cheaper rate because it’s the closing time: either there’s more food leftover and nobody will likely come to have it now, or the last sale doesn’t matter much to the owner.
Takeaway: Understand the seller psychology to become the seller while being the customer.
6. Collect the Money …eat for Free With MFS
If your mother doesn’t beat you when you eat her hand-made food, you are so lucky. Your money is already saved as you don’t have to go to the fast-food restaurant.
If you do feel like having something from a restaurant, take your friends along with you.
Once the meal is done, collect an equal amount of money from everyone.
Let’s say you brought four of your friends with you. You’re five. For meal costs $50, $10 each. Collect $10 from everyone. Walk to the cash counter and secretly put the money in your pocket.
Pay with your mobile financial services (MSF). Usually, mobile financial services have cashback offers and at least 20% is the normal rate. When you pay with MSF, 20% of $50 comes back to you, which is $10. Technically you ate for free.
I learned this cool hack from one of my mentor’s friends.
Takeaway: Eat for free with the blessing of cashback God, MFS.
7. Your Ex Is Better Than Credit Card …trust Me
Credit card company loves you so much, you can buy whatever you want even if you are broke.
Didn’t make sense? Okay, they buy you an air conditioner and you are super happy. But in the end, you have to blow with your mouth to make them feel cool.
Also, they give the due bill in the middle of the month — 13th, 17th, 19th, and so on. Is that because they love you?
No. It’s because they don’t want you to properly analyze how much you have expensed this month, and spend more, then pay the over-spend fees more, and pay the tonne other charges that come with it.
Takeaway: Credit card companies aren’t your mother.
Take This Away
Saving money is an art and art is always fun.
Be creative and save money (I mean, earn extra money).
Here are seven creative ways:
- Save weekly to save one month of extra money.
- Touch less money to spend less money.
- Make an emergency fund as soon as possible.
- Spend seven days before making a purchase and you’ll not spend unnecessarily.
- Get the seller psychology to take advantage of it — legally.
- Eat for free with MFS.
- Do credit card dieting. Credit card isn’t your mother. Their food isn’t that tasty, anyway.
Do you have some other “creative" hacks you apply?