7 Lazy Ways to Save Money

In today’s fast-paced world, where the economic climate is as unpredictable as the weather, saving money has become not just a wise decision but a necessary habit for securing one’s financial future.However, the thought of cutting back on expenses or setting aside a portion of one’s income can sometimes feel daunting, especially when it requires constant vigilance and discipline. What if there were ways to save money that didn’t require a significant shift in your daily routine? What if you could save without really trying? 

We aim to explore those possibilities, diving into unique and, quite frankly, lazy ways to save money that you might not have considered before. These methods won’t just help your wallet; they could also introduce you to a more mindful way of living that benefits both you and the planet.

1. Opt for Slow Shipping

In a world dominated by the allure of instant gratification, the prospect of choosing slower shipping for online purchases presents a paradigm shift. This choice, seemingly at odds with the modern demand for speed and efficiency, opens the door to a range of benefits both financial and environmental, that can significantly impact both the individual consumer and the larger community.

Financial Incentives and Rewards

Several leading e-commerce giants and smaller online retailers are now incentivizing customers to choose slower shipping options. Here are a few examples:

  • Amazon’s “No-Rush Shipping”: Amazon offers No-Rush Shipping credits to customers who are willing to wait a bit longer for their deliveries. These credits can be applied to future purchases or digital downloads, effectively rewarding customers for their patience with tangible benefits.
  • Target’s Consolidated Shipping Discounts: Target has been known to offer discounts on orders where customers select a consolidated shipping option, grouping their purchases into fewer shipments to reduce packaging and transportation needs.
  • Etsy’s Carbon Offset Program: While not a direct financial incentive, Etsy offsets carbon emissions from shipping for all orders, encouraging buyers and sellers to consider the environmental impact of their shipping choices. Choosing slower shipping on platforms like Etsy contributes to this initiative by reducing the urgency and frequency of shipments.

Environmental Impact

Choosing slower shipping has a more profound benefit beyond just financial savings; it significantly reduces the environmental footprint of online shopping:

  • Reduced Carbon Emissions: Slower shipping allows for more efficient logistics planning, enabling carriers to fill delivery trucks more completely and reduce the number of trips needed. This consolidation leads to a direct decrease in carbon emissions per package.
  • Packaging Efficiency: When shipments are consolidated, the amount of packaging material used per item can decrease. This not only reduces waste but also the environmental impact associated with the production and disposal of packaging materials.
  • Encouraging Sustainable Consumption: Opting for slower delivery times fosters a culture of patience and reduces the demand for quick-turnaround delivery services. This can lead to broader support for sustainable practices within the e-commerce industry, encouraging companies to invest in green logistics and packaging solutions.

2. Automate Your Savings with Round-Up Apps

In today’s digital era, the fusion of technology and personal finance has introduced innovative tools designed to enhance our saving habits with minimal effort on our part. Among these innovations, round-up apps stand out as a particularly effortless way to boost your savings. These apps, once connected to your bank account or credit card, automatically round up each transaction to the nearest whole dollar and deposit the difference into a designated savings or investment account. For example, if you purchase a sandwich for $4.50, the app rounds that amount up to $5.00 and transfers the $0.50 surplus into your savings.

Let’s dive into a few more examples to illustrate the potential of these micro-savings. Consider the following scenarios:

  • Morning Coffee: You buy a latte for $3.65; the app rounds up to $4.00, saving $0.35.
  • Online Shopping: You purchase a book online for $15.20; the app rounds up to $16.00, saving $0.80.
  • Grocery Shopping: Your grocery bill comes to $60.25; the app rounds up to $61.00, saving $0.75.
  • Fueling Up: A tank of gas costs you $35.10; the app rounds up to $36.00, saving $0.90.

Over a month, these seemingly insignificant amounts can add up. If you’re making multiple transactions daily, the total saved can become quite substantial. This method harnesses the power of cumulative saving, turning what might seem like spare change into a growing financial resource.

There are several apps in the market that offer this service, each with its unique features. Some may allow you to set saving multipliers, further accelerating your savings. Others might offer the option to invest your round-ups in stocks or bonds, potentially increasing your returns over time.

These apps not only automate the process of saving but also provide options to grow your savings through investments, making them a versatile tool for enhancing your financial health with minimal effort.

Acorns

Acorns is perhaps one of the most well-known round-up apps that offer users a way to automatically save their spare change. What sets Acorns apart is its direct investment feature. The round-ups accumulated from your transactions are not just saved; they are invested in diversified portfolios that match your risk tolerance, ranging from conservative to aggressive. Acorns also offer features like “Found Money,” where partners of the app contribute a percentage of your purchase when you shop with them directly into your Acorns account, enhancing your ability to save and invest.

Digit

Digit takes a slightly different approach by using algorithms to analyze your spending habits and automatically transferring money from your checking account to Digit savings based on what you can afford. While it’s not purely a round-up app, it offers a similar passive saving feature, with the added benefit of being able to set specific savings goals. Digit checks your spending habits and incoming bills to ensure it only saves what you can afford, making it an intelligent saving assistant.

Chime

Chime is a fintech company that offers banking services, including an automatic savings feature similar to round-up apps. Every time you make a purchase with your Chime Visa Debit Card, transactions are rounded up to the nearest dollar, and the difference is transferred to your Savings Account. Additionally, Chime offers a feature where you can automatically save a percentage of every paycheck, accelerating your savings growth without any extra effort.

Qapital

Qapital goes beyond just rounding up your change. It allows you to set specific goals (like a vacation or an emergency fund) and rules for saving towards those goals. One of the rules is the round-up rule, but you can also set custom rules like the “Guilty Pleasure” rule, where you save a set amount every time you spend money at a place you’re trying to avoid. Qapital also offers investment options, making it a comprehensive app for saving and growing your money based on personalized rules and goals.

Stash

Stash is another app that combines saving and investing, but with a focus on education. While it offers the round-up feature to save spare change, it also provides access to a wide range of stocks and ETFs, along with educational content to help users make informed investment decisions. Stash aims to make investing accessible to everyone, regardless of their financial knowledge or background.

3. Use Energy-Saving Plugs

In the quest for effortless money-saving strategies, leveraging technology to reduce energy consumption is both smart and effective. One of the simplest yet impactful gadgets you can incorporate into your home is the energy-saving plug, commonly referred to as a smart plug. These devices offer a hassle-free way to cut down on your energy bill by managing the power usage of your electronics and appliances with minimal effort on your part.

What are Energy-Saving Plugs?

Energy-saving or smart plugs are compact devices that plug into a traditional electrical outlet. You can then plug any electronic device or appliance into the smart plug. Through a smartphone app, you can control these devices remotely, set schedules for them to turn on or off, and even monitor their energy consumption. The real money-saving feature comes from their ability to cut off standby power — the energy used by electronics even when they’re turned off but still plugged in, which is often referred to as “vampire power.”

Examples and How They Work

  • TP-Link Kasa Smart Wi-Fi Plug: This smart plug allows you to control your devices from anywhere via an app. You can schedule the coffee maker to turn on in the morning or ensure your living room lights are off while you’re at work, significantly reducing unnecessary power consumption.
  • Belkin Wemo Mini Smart Plug: The Wemo Mini not only allows you to turn appliances on and off remotely but also offers an “Away Mode” that randomly powers lights on and off to simulate occupancy, providing both energy savings and security benefits.
  • Amazon Smart Plug: Integrated with Alexa, this plug enables voice control for any outlet. By using routines, you can automate your devices to reduce energy consumption effortlessly, like turning off all connected devices overnight.

The Impact on Your Energy Bill

The use of smart plugs can lead to noticeable savings on your energy bills. By eliminating the standby power consumption of electronics such as TVs, gaming consoles, chargers, and even kitchen appliances, you can save a significant amount of energy. For instance, an average household can waste about $100 annually on standby power alone. Implementing smart plugs to manage these devices can cut that cost substantially.

Beyond the financial savings, reducing your energy consumption has a positive impact on the environment. By using smart plugs to minimize wasted energy, you’re directly contributing to lower carbon emissions, since less power generation is needed to meet your home’s energy demands.

4. Subscribe to Financial Newsletters

In the digital age, information is not only power but also a pathway to savings. One of the laziest yet effective ways to keep your finger on the pulse of financial wisdom, discounts, and exclusive deals is by subscribing to financial newsletters. These digital missives bring a wealth of knowledge directly to your inbox, offering insights, tips, and recommendations that can help you save money with minimal effort on your part.

Examples of Impactful Newsletters

  • The Penny Hoarder Daily: Known for its practical advice on saving money, side gigs, and budgeting, The Penny Hoarder sends daily emails filled with actionable tips that can lead to significant savings and increased financial literacy.
  • Money Saving Expert’s Weekly Email: Founded by Martin Lewis, this newsletter is a treasure trove of the latest deals, vouchers, and freebies, alongside top-notch advice on saving money in various aspects of life, from insurance and banking to shopping and utilities.
  • NerdWallet’s Weekly Roundup: NerdWallet offers advice on a broad spectrum of financial topics, from credit cards and investing to savings strategies. Their weekly roundup emails help you stay informed about the best financial products and how to use them to your advantage.
  • Morning Brew: While not exclusively focused on personal finance, Morning Brew provides a daily roundup of the latest news in business and finance, offering insights that can inform your investment decisions and financial strategies.

5. Plant a Perennial Garden

Embracing gardening not only enhances the aesthetic appeal of your home but can also contribute significantly to your long-term savings, especially when you opt for planting perennials. Unlike annuals, which complete their life cycle in just one season, perennials are plants that come back year after year, offering a bounty of benefits without the need to replant each spring. This choice can lead to substantial savings in both landscaping and grocery bills over time.

Cost-Efficient Landscaping

Landscaping can be a costly endeavor, especially when it involves purchasing new plants each year. Perennials, however, offer a cost-effective solution. Once established, these plants return each season, saving you the expense and effort of annual replanting. From decorative grasses and flowering shrubs to hardy ground covers, perennials can fill your garden with color and variety, enhancing your home’s curb appeal and increasing its value with a one-time investment.

Examples of Economical Perennials

  • Herbs: Many herbs are perennials, including rosemary, thyme, and mint. These not only add flavor to your meals but also save you money on buying fresh herbs.
  • Vegetables: Perennial vegetables, such as asparagus and artichokes, can provide a yearly harvest after the initial planting effort.
  • Fruits: Fruit-bearing perennials like raspberries, strawberries, and rhubarb offer delicious rewards that can reduce your grocery bill during their harvesting season.

Savings on Grocery Bills

The benefits of a perennial garden extend into your kitchen. By planting perennial fruits, vegetables, and herbs, you create a source of fresh, organic produce right in your backyard. This not only cuts down on your grocery bill but also ensures you have access to nutritious, home-grown food. The savings can be quite significant, especially when you consider the cost of organic produce at the supermarket.

Beyond the financial savings, perennial gardens contribute positively to the environment by promoting biodiversity and improving soil health. Moreover, gardening is a rewarding activity that can improve physical health through exercise and reduce stress, enhancing overall well-being.

6. Invest in Quality Over Quantity

One of the most effective yet often overlooked strategies for long-term savings is the principle of investing in quality over quantity. This approach involves choosing higher-quality items that, although they may come with a higher upfront cost, are designed to last longer, perform better, and ultimately save money over time by reducing the need for frequent replacements. Let’s delve into how this strategy works and explore specific examples where quality trumps quantity.

The Cost-Effectiveness of Quality

The initial purchase price of high-quality items is typically higher than their lower-quality counterparts. However, the longevity and durability of these items mean that they need to be replaced less often, which can lead to significant savings in the long run. Moreover, quality items often come with better warranties or guarantees, offering peace of mind and further protecting your investment.

Examples Where Quality Saves Money

  • Appliances: Investing in high-efficiency, durable appliances can lead to substantial savings on energy bills and maintenance costs. For example, an energy-efficient refrigerator may cost more upfront but will use less electricity over its lifespan, resulting in lower utility bills.
  • Clothing and Footwear: High-quality clothing and shoes not only look and feel better but also last much longer than cheaper alternatives. A well-made pair of boots or a durable jacket might have a higher price tag, but their ability to withstand wear and tear means you won’t have to replace them as frequently as you would with lower-quality items.
  • Furniture: Solid wood furniture, for example, costs more than particleboard options but can last for decades or even generations, offering real long-term value compared to needing to replace cheaper pieces every few years.
  • Tools and Equipment: For DIY enthusiasts, investing in high-quality tools can mean the difference between a tool that lasts a lifetime and one that fails after a few uses. Higher-quality tools often perform better and are less likely to need costly repairs.

7. Share Subscriptions and Memberships

In an age where subscription services and memberships are ubiquitous, ranging from streaming platforms to fitness clubs, the costs can quickly add up. A smart, lazy way to enjoy the benefits of these services while significantly reducing individual expenses is by sharing subscriptions, memberships, or even bulk purchases with friends or family. This approach not only fosters a sense of community and sharing but also directly impacts your finances by distributing the costs.

Sharing Streaming Services

Streaming platforms for music, movies, and TV shows often offer family or shared plans that allow multiple users to enjoy the service simultaneously, each with their own profiles and personalized recommendations. For example:

  • Netflix, Spotify, and YouTube Premium offer family plans at a fraction of the cost of maintaining separate accounts. By pooling together with friends or family members, each person can enjoy full access for much less than the individual subscription cost.

Fitness Memberships

Gyms and fitness clubs sometimes offer joint or family memberships that can be split among several people, drastically reducing the per-person rate. Additionally, some online fitness platforms allow multiple users under one subscription, making it easier to share the benefits of a single membership.

Bulk Purchases

Warehouse clubs like Costco or Sam’s Club specialize in bulk purchases that offer significant savings over traditional retail sizes. By splitting the cost and the goods with others, you can enjoy the lower prices without having to store vast quantities of items. This strategy is especially useful for non-perishable goods or items with a long shelf life.

Digital and Educational Subscriptions

Online learning platforms, digital newspapers, and software subscriptions often come with options for multiple users or licenses. Sharing these resources can significantly cut down on individual costs while providing access to valuable information and tools. For example, a group of students or professionals might share a subscription to a premium educational resource like Coursera Plus or an Adobe Creative Cloud plan.

Tips for Successful Sharing

  • Clear Agreements: To ensure smooth sharing arrangements, it’s important to have clear agreements on payment schedules, usage, and how to handle cancellations or changes in the sharing group.
  • Privacy Considerations: Choose services that allow for individual profiles or accounts to maintain privacy, especially for personal recommendations or saved data.
  • Monitor Usage: Keep an eye on usage to ensure that all parties are getting fair access, particularly for services that have limits on simultaneous usage.

Conclusion

These strategies not only showcase the ease with which one can save money but also highlight the broader benefits of such choices, including environmental sustainability and enhanced quality of life. The beauty of these approaches lies in their simplicity and the fact that they require little to no disruption to your daily routine. It’s about making smart choices that align with a lifestyle of conscious consumption and financial awareness.

We encourage you to try these less conventional methods of saving money. Whether it’s setting up a smart plug to manage your energy consumption or planting a few perennial herbs in your garden, each small step can lead to significant savings over time. And remember, the journey to financial savvy doesn’t have to be a solo venture. Share these tips with friends and family, and invite them to join you in exploring these lazy yet effective ways to save.