Money-saving tips 🤑

Plus: It's not too late to learn a new instrument 🎻

View this email online Today’s newsletter is brought to you by podcast strategist Julia Carney.  I have not always been a fan of budgets. For a long time, the word alone made me squeamish, and I went through life praying I could get away with eyeballing my finances. Where did that get me? Thousands of dollars in debt and constant stress about my financial future.  That being said, I have a few goals this year that will require me to be more strategic with my money. My spouse and I are hoping to move into a bigger place soon and my car needs a new bumper (oops). So I’ve been buckling down, keeping track of my spending and building my savings.  If you need help stashing away more funds this year, Life Kit is here to help. Last week, we published an episode on how to cut costs, pay down debt and save more money in 2024.  Save more money in 2024 the_burtons/Getty Images It has good reminders of things we all should be doing (like annually checking on your retirement account), plus a few ideas I haven’t tried yet, like meal prepping as a way to save.  🍴 Spend less on your must-haves …  There are certain essentials you spend money on each month, like food, gas and electricity. The cost of those items may vary depending on say, how much you eat out or whether or not you go on a road trip.  That means you can control how much you spend on those items, says financial counselor Rita Soledad Fernández Paulino of Wealth Para Todo. To save on food, eat out less. Check your grocery store for coupons and discounts. Try meal prepping, which allows you to buy food in bulk for a lower cost. To save on essential clothing, buy second-hand or mend your existing garments. 🥐 ... and your nice-to-haves Now take a look at how you spend on non-essentials and create a budget for those things. These are purchases that are desirable but not absolutely necessary, such as streaming TV subscriptions, gifts, vacations and treats. (Though ... I might argue that croissants are a must-have.) You can save on entertainment by borrowing books, video games, movies and more from your local library.  To avoid the temptation of impulse shopping, make yourself a "buy list," financial planner Paco de Leon told NPR in 2022. Put the item you want on a list. If you still want that thing after a week or month (and it can fit into your budget) ... indulge, baby! 💰 Increase your cash flow If you’re having trouble saving money, consider "increasing your income so you have more money available to you," says Fernández Paulino. Easier said than done, but it’s very possible. That could mean looking for a higher-paying job or starting a side hustle like tutoring, babysitting, teaching piano or making jewelry. "Look at the skills you have that you can monetize so you have the extra cash flow," she says.   📈 Get a savings account with a higher interest rate  Put those funds in a high-yield savings account with interest rates between 4% and 5%. These higher rates allow your money to grow even faster due to compound interest. If your current bank isn't helping you grow your savings, consider other options. More tips on how to save money Did you like this newsletter? Forward it to a friend or family member who you think could benefit from it and tell them to subscribe.   Newsletter continues after sponsor message Listen Sponsor-Free Support public media while getting expert advice on health, finance, relationships and more with Life Kit+. You'll get sponsor-free listening AND that warm fuzzy feeling that comes with making a difference. You can also check out loads of other NPR+ podcasts with benefits at plus.npr.org. Explore Life Kit+ More smart money tips from Life Kit 💡 Tricks to boost your credit score 🐣 What you need to know about preparing financially for a baby 👁 8 simple things you can do to protect yourself from getting scammed 💒 When to consider a prenup This week on Life Kit It's not too late to learn a new instrument. Whether you grew up playing music or you never progressed beyond "Hot Cross Buns," it's not too late to pick up a new instrument. Let fun lead the way and lose yourself in the joy of learning. Joel Snape, who picked up piano at age 40, offers tips for beginners. Listen to the episode here. No, you don't have to put your home address on your resume. Do's, don'ts and current best practices for resume-writing from career coach Cynthia Pong. Read the story here. Sleep myths, busted. There are a lot of misconceptions about sleep. Sleep scientist Rebecca Robbins and her colleagues looked into common myths about sleep to help everyone get a better night's sleep. Read the story here. How to start an exercise habit. You don't have to be a marathoner or a gym rat to get meaningful health benefits from exercise. And that sort of "go big or go home" mentality can actually be a block to getting movement. This episode, we bust common misconceptions about exercise so you can get moving in a way that feels good to you. Listen to the episode here. Life hacks from our audience Photo Illustration by Becky Harlan/NPR A roundup of helpful tips sent to our Life Kit inbox from our audience. These responses have been edited for length and clarity. Got a great tip to share? Email us here. Write a 'rolling' to-do list I have a 'rolling' work to do list at work. Some projects can take a few weeks, like writing or revising. So on Fridays, I roll over pending tasks to a [new list on a] fresh page. It gives me a good feeling going into the weekend knowing [what I need to do on] Monday. --Jacquie Wuertz Extra exercise  Every time I go to the mall or the grocery store, I park my car at a considerable distance to get some extra cardio. Hope it helps anyone out there. --Arminda Head Get a good sports bra! As an older woman who has been running for most of her adult life, I just wanted to add something to the list of necessary run gear [for Life Kit's episode on running]: a good sports bra. It is as important as a good pair of running shoes. The bra should be at maximum support level (literally squashing your breasts as flat as possible) because any bouncing is very uncomfortable and distracting. --Rhea Basa Stream your local NPR station. Visit NPR.org to find your local station stream. What do you think of today's email? We'd love to hear your thoughts, questions and feedback: LifeKit@npr.org Enjoying this newsletter? Forward to a friend! They can sign up here. 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