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In the US, household debt lingers at around $13 trillion.

If you’re struggling with money, you may find yourself hiding your head in the sand in an effort to avoid facing your finances. However, there are many small steps you can take which will help you tackle this giant task.

In this article we’ll look at a few money tips which will help you get back on track. Read on to find out.

1. Face Your Debts Head-On

If you’re facing high debt payments every single month, then it makes saving money feel almost impossible. But, try to sit down and work out exactly how much you need to pay.

There are many ways to pay off debt. Why not try consolidating all of your debt into one so that you only have to pay out once per month?

2. Reduce Your Energy Costs Where Possible

Do you leave the A/C running every time you leave the house or are you quick to turn the heating on as soon as you feel a chill?

By looking closely at how you use energy, you can seriously reduce how much you are spending. Layering up on sweaters and blankets is a great way to avoid putting the heating on straight away.

As well as this, speak to your energy provider to try and negotiate a better deal. It’s their prerogative to try and keep you as a customer. If they don’t offer you what you want, leave as soon as possible and move to a company offering a better deal.

3. Always Cook at Home

Sure, this simply isn’t as fun as heading out with friends every other night of the week. But, it will help to guarantee that there is money left in your bank account at the end of the month.

Try buying foods in bulk and plan out what you’re going to eat for every single meal. Every single day, Americans waste around 150,000 tonnes of food.

Learn how you can use every single part of a vegetable and consider reducing your meat intake to lower your food bill.

Pack breakfast, lunch, and coffee and take this to work with you. Furthermore, the more you practice cooking, the better at it you will become!

4. Declutter Your Home

Nowadays everyone is familiar with Marie Kondo. But, have you considered decluttering your home not only to bring you joy but also to bring you more cash?

Spend a weekend going through everything you own and deciding whether to keep it or try to sell it. If you want to sell clothes, try eBay or Depop.

By spending a few hours decluttering your home, you’ll come up with some extra cash and have a much more rewarding space to spend time in.

5. Say Goodbye to Automatic Subscriptions

The average American spends $29 on subscriptions every single month and over $100 on cable. Now is the time to look at your subscriptions.

Can you say goodbye to cable? Why not switch to free services or simply choose one instead of four or five?

By doing this, you free up a lot of your cash and even time. Why not cancel your subscriptions and focus on building your company or learning a new hobby for a few months?

6. Learn About Investing

If you’re not investing, you’re losing money. It’s a concept that everyone is now familiar with. But, how do you begin investing your hard-earned cash if you don’t know anything about where to begin?

Luckily, there are many online courses and free books that will help you learn where to start putting your money. Read around the subject and don’t get hooked in by one influencer.

7. Consider a Year of No Spending

This may seem a little extreme, but it’s a great way to challenge yourself to spend money. First, outline what you will spend money on – this is anything that is essential to your life.

For example, you may choose groceries, debt repayments, and rent. Create a budget and then try to avoid spending anything other than on your essentials.

A year may be too long, but consider trying this out for a month. It certainly encourages you to be creative when it comes to spending time with friends or going on dates.

Furthermore, you may find that you simply don’t need to be spending hundreds of dollars on clothes. You already have more than you could ever need.

This experiment is a great way to learn about your spending habits. Although it’s hard, it may give you some useful insights for the future.

8. Breakup With Designer Labels

If you start buying generic brands at the supermarket, you will save yourself a lot of money. Often the generic product you’re buying tastes exactly the same as the branded version!

As well as this, consider saying goodbye to designer clothes too. Why not focus on either buying cheaper clothing items or longer-lasting items with a lifetime guarantee?

By now, everyone knows that the fast fashion industry is damaging the planet. Instead of throwing our money at such a monstrous industry, consider going vintage shopping instead.

Implement These Money Tips Over Time

There are hundreds of useful money tips that you can implement in your life. As well as reading everything you can to educate yourself on the subject, make sure you follow your favorite pieces of advice.

Hopefully, you will find that by changing up your financial routine, you can pay off your debts and save more.

If you’ve found this article helpful, don’t forget to check out the rest of the website for more inspiring content. You won’t be disappointed.

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