26 Tips to Increase Your Savings in 2025 (BIG Money-Saving Ideas!)

Summary

In this video, the speaker shares practical tips to increase savings and improve financial habits for 2025. Key advice includes prioritizing savings, avoiding impulse online shopping, and resisting the pressure to keep up with others' lifestyles. The speaker stresses the importance of being mindful of spending on processed foods and advocates for making do with what you have rather than constantly purchasing new items. With a focus on discipline, simplicity, and self-awareness, these strategies aim to help viewers build better financial habits and save more effectively.

Takeaways

• 😀 Prioritize saving before spending: Always set aside money for savings first before spending, based on a well-planned budget.
• 😀 Stop caring about others' opinions: As you age, focus on your own comfort and values, rather than worrying about what others think about your lifestyle, clothes, or home.
• 😀 Remove shopping apps to reduce impulse purchases: If you tend to shop impulsively, removing apps like Amazon from your phone can reduce temptation and help you avoid emotional buying.
• 😀 Avoid ultra-processed foods: Although cheaper, ultra-processed foods tend to make you eat more, which leads to higher overall food costs and poor health outcomes.
• 😀 Practice 'make do' or 'do without': Instead of buying something new immediately, consider making do with what you have or wait until it's truly necessary, a practice that fosters financial discipline.
• 😀 Recognize the role of impulse buying in your spending habits: Emotional decisions can lead to unnecessary purchases, and a mindful approach helps keep finances in check.
• 😀 Health and savings go hand in hand: Avoiding junk food not only improves your health but also reduces long-term food and medical costs.
• 😀 The power of confidence over age: As you grow older, you gain wisdom and the confidence to ignore societal pressures, leading to better financial decisions.
• 😀 Lifestyle creep is a hidden expense: Trying to keep up with the Joneses in terms of fashion, car, or home can lead to spending more than necessary, draining your savings.
• 😀 The value of delayed gratification: Learning to delay purchases or make do without helps to build financial security and avoid unnecessary expenses in the long run.

Q & A

What is the first step to increasing savings according to the script?

The first step is to set aside money into a savings account before spending any of it. This means budgeting first and prioritizing savings before other expenses.

Why does the speaker emphasize not caring about what others think in relation to saving money?

The speaker emphasizes this to encourage financial independence. By not worrying about keeping up with others’ material possessions, you can avoid overspending and focus on what truly matters for your financial well-being.

How can deleting shopping apps help in saving money?

Removing shopping apps, especially ones like Amazon, reduces the impulse to shop online. When you’re emotionally upset or stressed, you’re less likely to make unnecessary purchases if the apps aren’t easily accessible.

What is the problem with ultra-processed foods in relation to both health and finances?

Ultra-processed foods are engineered to make you eat more, leading to overspending on food. Additionally, they often lack the nutrients that would satisfy your hunger, prompting you to spend more while also negatively impacting your health.

How does the speaker suggest avoiding 'lifestyle creep'?

To avoid 'lifestyle creep,' the speaker advises not to fall into the trap of spending more just because you earn more. Instead, you should save any extra income like raises or bonuses rather than using it for unnecessary lifestyle upgrades.

What role does self-discipline play in increasing savings?

Self-discipline is crucial in resisting the temptation of impulse purchases and sticking to a savings plan. The speaker stresses the importance of saying 'no' to short-term desires for long-term financial gain.

What is a practical way to stay accountable to your savings goals?

One effective way to stay accountable is to set a clear savings goal, whether for a specific purpose like a vacation or an emergency fund. This clarity helps you make better decisions about what to spend and save.

Why should people use cash or debit over credit cards for daily expenses?

Using cash or debit helps you control your spending because you’re using actual money rather than credit, which can lead to overspending and accumulating debt. It also encourages you to think twice before making a purchase.

What does the speaker mean by 'make do or do without' in relation to saving money?

'Make do or do without' means getting by with what you already have rather than rushing to purchase new things. It’s a mindset of being resourceful and resisting the urge to constantly buy in order to satisfy short-term wants.

How can decluttering help increase savings?

Decluttering allows you to sell items you no longer need, which can directly increase your savings. Additionally, it helps you avoid buying more things you don’t need and reduces the temptation to accumulate unnecessary possessions.