1. Only buy things if you can pay in cash. Use a credit card when you want, but only if you have the money to pay it off in that very moment. Do not fall down the credit card rabbit hole thinking you can pay off the debt later.
2. Transfer a portion of every paycheck into savings. Deposit ten to twenty percent from every paycheck to a savings account. Eventually, work your way up to a retirement fund and other investing avenues.
3. Pay bills immediately. Do not let bills linger to the point where you forget about them and accrue late fees (especially credit cards). Set up automatic bill pay online, so when you get your billing statement, the money is taken directly from your account.
4. Track your spending. Know where your money is going. Little transactions add up. Plan a month-to-month budget for all of your expenses and savings. Mint.com is a great tool for doing just that.
5. Ditch cable. There are plenty of cheap and free alternatives out there. Cable is unnecessary and expensive.
6. Wait a week before purchasing big priced items. Avoid the impulse buys. Waiting one week will give you the time to consider whether you really do need to spend money on your purchase.
7. Do not go grocery shopping when hungry. When you go to the grocery store hungry, not only do you buy more food than you need, but you buy unhealthy, expensive food. A full stomach will help you think clearly.
8. Commute via bicycle. Gas is only getting more expensive. Commuting via bicycle cuts down on gas costs and extends the life of your vehicle.
9. Cook more meals. Homemade meals cost a fraction of the price of restaurant meals. Buy healthy, and buy in bulk when you can.
10. Drink more tap water. If you live in a developed country like the United States, chances are tap water is just as healthy (if not more so) than bottled water. It will save you money, it’s good for you, and you do not waste plastic by drinking it.