6 Simple Ways to Save During the Work Week

For several months now I’ve explored ways to decrease monthly spending in an effort to have money to apply toward debt (students loans) and ultimately savings. This prompted me to look for simple ways to save during the work week.

The first step in this journey was to evaluate my current spending habits and identify any areas of overspending.

Believe it or not, this happens to be the easy part because I  typically make purchases by debit card.  As with any bank account, you can track your purchases in real time via the bank’s app or at a more slower pace by securing a paper statement when available.

For this observation, I felt that tracking should consist of spending habits over the course of a month due to my monthly pay schedule.  So for the first evaluation, I viewed my spending for one month.

Now let’s keep in mind that this is one month of unfiltered spending. If the money was available I would swipe my card to make the purchase.

Once the month was over I viewed my statement and couldn’t believe the results!

I literally checked the prior month’s statement as well just make sure my observation was accurate.

Can you GUESS the area where I  overspent?

Well, let me tell you it was in the FOOD category!

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With tracking my expenses for one month I learned that the majority of my EXTRA money after living expenses was spent on my commute to and from work when I thoughtlessly stopped for coffee every morning, then a round of Sonic Happy Hour drinks for the family several times a week in the afternoon.

Then again some nights for half priced milkshakes and sundaes.

We were addicted, to say the least, and because of that my bank account suffered, debt lingered, and my savings was scrawny.

With this concrete information in hand, I was finally able to put a plan in place to decrease the money which I spent during the work week by following five simple steps.

Ways to Save on food

1. Pack Breakfast & Lunch

Eating from home allows you to eat healthier, and cheaper. One entree can cost between $5-$8 during lunch daily which could run you between $25-$40 a week for lunch alone.  With proper planning, you could spend this on breakfast and lunch for an entire month.

2. Stop Purchasing bottles/cases of water

With an increased water intake, the cost of bottled water had dramatically added up. In order to cut this expense, I purchase a Contigo Autoseal BPA FREE 32 oz water bottle. It’s not too large, it fits in a work bag, and holds just enough water to drink during the workday.

By using a reusable bottle, I’ve saved  $20 bucks over the course of several months by not purchasing cases of water. This also uses less plastic, which is good for our environment.

3. Brew Coffee at Home

Purchasing coffee on daily bases adds up.  Lately, to save on this expense, I purchased coffee grinds, a reusable k cup, and I brew coffee at home in my Keurig machine.

By brewing coffee at home I get to create my own special concoction to get me through the day. I brew one cup of coffee at a time so there’s no waste. The best part is that each cup cost less than $.20 to make.  That’s an incredible saving when compared to what I would spend at Starbuck or on gas station coffee.

Ways to save on travel

4. Fill up on discounted gas

I tend to purchase my groceries at locations which allow me to gain loyalty rewards to redeem for cheaper gas.  This saves me close to .03 to .10 per gallon of gas purchased weekly.

When it comes to gas I also recommend shopping around.  I work in a rural area with very few gas stations and those few are overpriced by  .05 to .10 cent.  As a result, I make it a point to never purchase gas from those more expensive gas station which saves money over time.

 

 

5. Carpool with coworkers

I don’t currently carpool but I have in the past allowed a coworker who lived close by to ride to work with me.  This was a great experience as it allowed me an opportunity to really get to know a fellow colleague outside of work.

It also gave me a chance to save money on the cost of gas.  If you are paying down debt, adding to retirement, or savings this is a great way to save a few bucks each week by splitting the cost of gas.

Pro tips for savings

6.  Prepare for the unexpected

Not every day will you remember to pack your lunch or to grab your cup of coffee from home.  Step six is to simply prepare for those days by setting aside a fund to pay for lunch out or a designer cup of coffee on the way to work during those “emergency situations”.

For me preparing my food and coffee has become a part of my schedule and I don’t often forget to do it.

As a result, the funds for unexpected expenses are limited to about $25-$30 per month.  Money in this budget also covers Sonic Happy Hour drinks, but once the money is spent- that’s it.

Have you tried any of these 6 Simple Steps to Save During the Work Week?  Or can you suggest any additional ways to save? I’ll love to hear all about it please share!