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Are you going broke? Thinking about trying some extreme money saving strategies to boost your savings and help you balance your finances better?
The question is, are you willing to take it to the extreme to save money?
There are many ways to save, whether you want to grow your savings account, increase your nest egg or pay off your debts quick. These money saving strategies are truly extreme and unusual. They are not traditional by any means and some of them may shock you.
If you’re curious to learn these 14 extreme money saving strategies, keep reading and don’t forget to bookmark for later!
1. Move Back With Your Parents
Eekk..move in with your parents? Yes! This is a measure many people take to save money. I see families do this all the time.
Abandon your home and move back in with your parents for the purpose of saving.
Even if you have to pay rent to live with your parents, it’ll likely be cheaper than your current housing situation.
This means you can store away potentially a lot of money, to help you save super fast and get your finances back on track.
To expedite this process, make sure you’re budgeting with Mint. This free personal finance app helps you track your spending and get a look at your financial picture easily.
This one is a huge lifestyle change but it may be well worth it for your financial big picture.
2. Share Netflix
Share Netflix with family and friends.
Netflix is not too expensive. Our plan is around $15/month and we have 2 friends on the account with us.
Do something similar and split the cost?
Why pay $15/month when you can pay $5, right?
Want to experience entertainment through movies and TV and nix the expensive cost of cable.
3. Reusable Toilet Paper
Yes, do this! Do at your own risk, haha.
To save in the most extreme way, you know that disposables have to go.
That means no more paper towels, toilet paper, trashbags, etc.
Our family transitioned from using sponges for washing dishes to using washable dish rags. We’ve saved about $20/year or so doing this small change, alone.
Look at buying washable cloths and use those for toilet paper and personal care.
4. Don’t Buy Condiments EVER (grab them for free)
Instead of buying condiments, grab the free takeout condiments you get from fast food restaurants and use those instead.
I recently visited a family members house and they had a whole bowl of packets of ketchup, soy sauce, and other sauces right on the kitchen table for everyone to eat and enjoy with their meal.
I have already been doing this for years but never thought about using these free sauce packets exclusively and abandoning buying ketchup and mayo from the grocery store.
Give this a try and see how much you can save.
5. Sell your smelly socks (and other weird things) on Ebay
People are into all kinds of crazy things. And there are some who have a fetish for smelly socks, smelly shoes, and other things you probably can’t even imagine.
After reading a story recently about a woman side hustling by selling her smelly socks on Ebay, I had a lightbulb moment.
You can do this to save money!
Well, you can make money to save money and this is how you can contribute toward your savings.
I also saw another story about selling pictures of your feet. A girl on YouTube did this for 5 days and made about $3,000. Crazy, huh?
Would you do this?
6. Make Your Dryer Sheets Last
Take your dryer sheets and cut them in half. Instantly double the supply.
7. Don’t Spend Money on Entertainment
The no-spend weekend is a thing! And, more and more folks are adopting it, where they spend no money on entertainment for the weekend. Push yourself and try to do this one day during the week, too!
Examples of free entertainment to try:
- Exercise outdoors or indoors
- Visit your local library
- Visit a free museum
- Go for a neighborhood walk
- Free festivals
- Go to the park
- Movie marathon at home
8. Don’t Cut Your Hair (Or Cut Your Hair Yourself)
My husband used to spend around $20/week getting his hair cut at the barber.
When he started cutting his hair himself, he loved having control over having a fresh cut whenever he wanted and didn’t have to wait until his weekly barber appointment.
Saving $20/week equals $1,040/year!
This is perfect for saving money on gas and less wear and tear on your vehicle.
Our company had a carpool program where we’d drive about 4-5 people in one car to work. Every day of the week was someone’s turn to drive.
This means you only drive your car one day a week, yay!
Try this and see what your savings adds up to be.
What if your job doesn’t offer this?
There are actually carpool groups in your community that you can go through to set up something similar.
10. Avoid Turning on The Heat During Winter and Use a Hot Water Bottle Instead
Save on heating costs by never using your heater.
Use a hot water bottle or tea kettle to warm the home, the room you’re in, or warm you!
11. Re-use Everything
Look at your life. What can be reused?
- Coffee pods
- And, more!
My husband reuses the same towel all week long.
Use a towel, hang dry, and then use again every day of the week. You’re drying off your clean body after all. Can’t be that bad, right?
12. Cut your cell phone bill in half
I just switched to this cell phone service called Tello and it has been great! I must have saved at least $30/month since I started using them. They have a special going on during Father’s Day. Check them out here:
Unlimited data, talk & text for just $14/mo
13. Don’t Eat Out, Ever, AT ALL
Fast food is expensive. It’s not nutritious (a lot of it) and it costs you time and the cost of gas.
Instead, cook all your meals at home!
14. Rent Out Spare Space
AirBNB your space, even if you rent!
With AirBNB, rent out a space in your home, even if you rent (it’s called rental arbitrage).
With Neighbor, rent out a closet, attic, garage, etc. to help others store their stuff in your home.
This saves them money, compared to using traditional storage facilities.
And, you can make up to $15,000/year with Neighbor!
There you go! What extreme ways have you saved money?