How To Combat Hustle Culture and Still Save for What You Want

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Are you concerned that the only way to save money is to pick up another job–or three?

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Your full-time job is already draining your time and energy; how could you pick up a side gig without giving up every minute of your spare time? Hustle culture isn’t the only answer to building wealth. There are lots of strategies that can help you save for the future that won’t cause you to be stressed from working too much.

1. Look for a High-Yield Savings Account

A high-yield account ensures that money you put away in savings is compounding, and you never have to do a thing. For example, LendingClub enables you to have a high-yield savings account that delivers 1.52% annual percentage yield (APY). The average APY for savings accounts is 0.08%, so this is a major upgrade. 

2. Automate Your Savings

Once you have your high-yield account set up, make sure you’re contributing to it. Set up automatic deposits from your checking account to your savings account so you can start putting away money without thinking about it. A good number to start with is 10% from each paycheck. Of course, it’s great if you can add more as time goes on, but having a set amount that you know you’re saving every month makes sure you’re always building up something in your savings account.

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3. Watch Your Utilities 

Relying too much on your appliances at home can send your bills through the roof. For heating options, instead of turning on the heater full blast, look for energy efficient space heaters to save energy and money. Instead of air conditioning during the summer, use fans and close your drapes to keep out the heat.

You can also make changes to your appliances to make them more beneficial to your wallet. Lowering the temperature on your water heater by 10 degrees can save you up to 5% in energy costs. Even better: consider having a tankless water heater installed, which can save you up to 30% on your bill. 

4. Plan Your Meals

Meal prep is a great way to not only save money but to eat healthier as well. On Sundays, make a list of all of the meals you’re going to have, then itemize that into a shopping list. This will also help keep your grocery bill low since you know exactly what you’re shopping for. Try not to eat out during the week, or only do it for special occasions. You can save hundreds a week simply by cutting down your cost of food. Plus, when you make dinner at home, you can make two servings, so you’ll have enough for lunch the next day. 

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5. Track & Eliminate Subscriptions

You might not think your subscriptions are adding up, but they could be costing you hundreds. Consumers tend to think they’re spending much less on subscriptions than they actually are. A survey revealed that most people thought they were spending around $86 a month on subscriptions, but they were actually spending closer to $219 a month. Take a month to track each of your subscription costs, then determine which ones you can live without. 

5. Get To Know Coupon Sites

No matter if you’re going to the grocery store or shopping online, you should always be looking for the best deal. For grocery shopping, sites like Coupons.com let you browse popular stores and snag coupons online. Once you use the coupon, you can even send Coupons.com your receipt, which can be redeemed for cash back via PayPal. Not only are you saving money on the item you purchased, but you’re getting money for purchasing it!

For online shopping, look into Chrome plug-ins like Honey which look for coupon codes and deals to ensure you’re paying the least amount possible for your items. 

6. Reevaluate How Much You’re Paying for Insurance

Every six months, check how much you’re paying for car, rental or home insurance, and see if you can get a better deal. Sites like The Zebra can help you find if you could be paying less for car and home insurance. QuoteWizard can help you determine how your current rate compares to potentially cheaper options available for rental insurance.

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About the Author

Sam DiSalvo is an LA-based comedian, writer and actor who's performed all over the country. Her written work has appeared in numerous digital publications. As a copywriter, she's worked with a variety of major brands including GoldieBlox and Thrive Causemetics. Sam loves dogs and is currently perusing leisure suits to buy for her corgi mix, Barry

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