Use these simple hacks today to save a small fortune

With the official inflation rate in the US currently over 7%, we’re all starting to notice that the cost of living is rising sharply. For some, the real inflation is way above the official rate.

But there are ways to fight back. Here are 9 simple hacks that you can implement today.

Hack #1 — Cancel subscriptions you no longer need

Take a look at your bank, credit card, PayPal, and other financial statements to see what subscriptions your currently paying for. We often forget about what we’re subscribed to and continue paying even though we no longer need the service.

This alone can save you a small fortune.

This week I decided to dump a blog that wasn’t working out. That saved me $11 a month in subscriptions fees.

Hack #2 — Sell items you no longer need

We have become a nation of hoarders. We buy a ton of stuff that we don’t really need, then just stick it in the spare room or the garage. Many people don’t realize how valuable their unused items are. If you’ve been hoarding for years you might even have some real gems hidden in there.

List what you don’t want on eBay, Facebook Marketplace, or other online selling platforms.

This is also related to a secret hack I’ve been using to “rent” goods for free for many years.

Hack #3 — Borrow books instead of buying them

Most books we buy and read once, if that, and then left on the shelf or our Kindle. But why not borrow books instead. Kindle allows you to borrow books from friends. Your local library also has a large selection of books and often allows you to order books they don’t have in stock.

As well as borrowing, there is the option to read free eBooks. Every day Amazon Kindle has a new set of free books that cover hundreds of topics. Project Gutenberg is a library of over 60,000 free books.

Hack #4 — Cancel the gym membership and work out at home instead

Over the last couple of years, when fitness clubs were often closed, many realized that they could exercise just as effectively at home.

These days there are so many free fitness apps to choose from that you’re spoiled for choice. There are also countless numbers of fantastic exercise videos on channels like YouTube.

Hack #5 — Cook at home with friends instead of going to a restaurant

Cooking at home with friends can be great fun. It can help you bond and save money at the same time. You can take turns with who does the cooking or all pitch in together.

Hack #6 — Walk short distances instead of driving

I have always done this. In fact, I even walk long distances. At the moment I don’t even have a car, as I live in the city.

Anyone can do this. If your journey is less than a mile (or whatever distance you’re comfortable with walking), leave your car at home. As well as saving on gas, you might also save on parking fees. You’ll be getting free exercise as well.

You could also ditch your car entirely and buy a bike.

Hack #7 — Earn extra cash from a side hustle

I guess many of you reading this are already using this hack. There are so many ways to earn extra cash these days that you don’t have any excuses.

Hack #8 — Always ask for a discount

Whether you’re at a store or buying online, always ask for a discount or search for money-off coupons. This works especially well if you’re buying expensive items. Phone companies will often give discounts on your monthly package if they think you’re about to leave.

A couple of months ago my wife asked her phone provider what the process of moving to a different provider was. The result was that they cut the monthly bill by 50%.

Hack #9 — Shop around when your insurance is due for renewal

Whether it’s insurance for your health, your house, or your car, be sure to get quotes from a few companies when your policies are due for renewal. You can almost always find a better deal. Insurance companies take advantage of the fact that most people are too lazy to make the effort.

Hack #10 — Unsubscribe from store mailing lists

When you get emails from stores they want you to buy something. Remove this temptation. If you don’t see that too-good-to-be-true offer, you won’t think of buying.

Hack #11 — Wait 24 hours before buying online

If you want to buy something online, add it to your basket but don’t check out for 24 hours. In that time you could well decide that it was just an impulse buy that you don’t need.

For more expensive items I’d suggest waiting a week. We often forget what we wanted to buy, so didn’t need the item anyway.