6 Practical Ways You Can Save $250 Per Week

6 Practical Ways You Can Save $250 Per Week

If you’re like the average person, you live paycheck to paycheck. And if you have any money left over at the end of the month, you typically blow it on something frivolous. But what if someone told you that you could save $13,000 over the course of the next 12 months? Well, it’s as easy as stashing away $250 per week.

Try These 6 Money-Saving Tactics

People make the challenge of saving money more difficult than it has to be. At the end of the day, it comes down to two key ingredients: self-discipline and planning. The idea of self-discipline as it pertains to money management is a discussion for another day.

In this article, we’re going to show you how you can develop a plan for saving. In particular, here are six ideas that would, in theory, allow you to save a minimum of $250 per week (or $1,000 per month).

1. Stop Eating Out

The quickest way to save money is to pack your lunches each day and stop eating out. This one simple habit will save you substantial money in the blink of an eye.

Let’s say you currently eat a fast food meal every day for lunch. On the conservative side of things, each meal costs you $6. That’s $30 per week. Then let’s say you eat dinner out twice per week, with an average bill of $15. That’s another $30 per week. (We’re up to $60 total.)

Packing your own meals for lunch – whether it’s sandwiches, wraps, soup, or leftovers – costs just pennies on the dollar. (We’ll say it costs you $2 per meal.) The margins are even better with dinner. You could easily fix a dinner that costs you just $5 – especially if you cook in bulk. When it’s all said and done, you’re saving a total of $40 per week.

Potential Weekly Savings: $40

2. Use Grocery Delivery and Pickup Services

Simply grocery shopping for your meals doesn’t automatically mean you’re going to save money. It’s easy to go into a store hungry and have your impulsive personality drive up your bill. That’s why it’s recommended that you use a grocery delivery or pickup service that lets you shop online and avoid ever walking through the doors of the supermarket. On average, this will prevent you from buying four or five unnecessary items per weekly trip.

Potential Weekly Savings: $25

3. Shop With Coupons

If you’re someone who spends a lot of time shopping online, the best way to save money is by cutting back on discretionary purchases. But if you absolutely must buy something, it’s always smarter to look for a coupon. Bookmark a site like Coupons.ca, which curates coupons from companies across many different product categories, including health and wellness, beauty, travel, and electronics. If you spend an average of $100 per week shopping, 25 percent savings can really add up.

Potential Weekly Savings: $25

4. Nix the Gym Membership

Exercise is great. You should be getting physical exercise every single day. But a gym membership isn’t the only option. In most cases, it’s expensive and inefficient. The average membership is $60 per month. Add on things like gas, impulse purchases at the gym (shakes, extra classes, etc.) and the price rises. By working out from home – or simply jogging around the neighborhood – you can save big.

Potential Weekly Savings: $20

5. Spend in Cash and Save Change

There are many reasons to shop in cash – the least of which is the ability to save money by rounding up purchases and stashing away the difference in the form of change. For example, if you spend $7.13 at the convenience store, you take the $0.87 of change and put in a jar. Over time, all of these coins add up to something much larger.

Potential Weekly Savings: $20

6. Pick Up a Side Job

We’ve listed a handful of ways to save in this article. There are dozens more that we haven’t even touched. But if you really want to accelerate your savings, consider picking up a side job that you can do at your own pace. Something like driving for Uber or listing your apartment on Airbnb on the weekends works well.

Potential Weekly Earnings: $220+

Take Control of Your Finances

It’s time to eliminate to stop having a pity party for yourself and start taking proactive steps towards gaining control over your finances so you can enjoy financial freedom. As this article shows, it’s as simple as developing a plan and making smart choices. By tucking away just $250 per week, you can set aside $13,000 in one year, $26,000 in two years, and more than $100,000 in eight years. Consistency is the answer.

David Jackson

David is a personal finance expert, a professional male model, and an entertainment writer.