10 creative ways to maximize your savings this year

Saving money doesn’t have to mean cutting out all the fun or feeling deprived. With a little creativity and planning, you can maximize your savings while still enjoying life to the fullest. Here are 10 creative ways to boost your savings this year, along with practical tips on how platforms like LifePoints can help you earn a little extra along the way.

1. Gamify your savings

Did you know that saving money can be a fun challenge if you make a game of it? Create savings goals, watch your progress, and reward yourself when you reach them. You can’t beat that feeling of accomplishment! Here are a few things to try:

• 52-week savings challenge: Save $1 in week 1, $2 in week 2, and work your way up to $52 by the end of the year.
• The Qapital app offers leaderboards, points, badges, and other ways to make saving fun.
• Acorns rounds up your purchases and automatically saves spare change.

2. Plan a no-spend challenge

Pick a weekend, a week, or even an entire month where you commit to spending only on necessities. Better yet, turn it into a contest with friends and see who can go the longest without unnecessary spending. Track your well-earned savings and put them towards an exciting goal like a vacation fund.

3. Monetize your hobbies

Earn extra income by selling the fruits of your own creativity. Handmade crafts, woodworking, and photography are just a few hobbies you can market online. Platforms like Etsy allow you to list various handcrafted items for sale, while Upwork connects you to potential customers for your freelance services. You can also join a survey community like LifePoints, which lets you earn rewards by completing surveys on fun and interesting topics.

4. Get creative with meal planning

Food expenses can take a big bite out of your budget. Meal planning is a smart way to save money while eating well. Try an app like Flipp for grocery deals or Mealime for meal planning and recipes tailored to your tastes. Take it even further by batch cooking and freezing your meals. You’ll cut back on takeout costs and save even more.

5. Hone your DIY skills

From homemade gifts to home repairs, taking a DIY approach can save you money and unleash your creativity. You also have the chance to learn new things, upgrade your skills, and become more self-sufficient. Here are a few ideas to get you started:

• Handcrafted, personalized gifts are a big favorite – and they’re more special to the receiver than anything you could buy.
• Look up recipes online for making your own cleaning products.
• YouTube is a goldmine of resources for learning how to tackle small repair jobs.

6. Plan experience-only gift exchanges

Rather than buying gifts for special occasions or holidays, exchange experiences with your friends and family. You can plan things like dinners at home, picnics, or game nights. It’s an easy way to save money while engaging in a fun activity. And most people will agree that, when you spend quality time with loved ones, the memories you make together are more precious and longer-lasting than material gifts.

7. Rent instead of buy

Join the sharing economy and find out what your community has to offer. For items you don’t use very often, renting is a clever way to save money and avoid clutter. These days, you can rent anything from designer clothes (Rent the Runway) to power tools (Home Depot, Lowe’s). And platforms like Peerby let you borrow, rent, and lend all kinds of things with the people in your neighborhood.

8. Get paid to walk

Did you know you can earn rewards simply for walking? Apps like Sweatcoin and Paidtogo actually pay you for your steps by giving you points that can be exchanged for products or donated to charity. So if you need an excuse to get fit, here it is!

9. Savings at a roll of the dice

Here’s another fun game that can help you build a savings habit with an element of surprise. All you need is a six-sided die and a savings jar or account. Roll once a week and save the amount shown on the die, whether it’s $1 or $6. For a bigger challenge, roll two dice and save the total, or add a multiplier to boost your savings. If you struggle with traditional saving methods, you’ll want to give this game a try. Every small amount will add up to significant savings over time.

10. Earn rewards through surveys

One of the most accessible ways to enhance your savings is by collecting points in your free time. Platforms like LifePoints provide a convenient and flexible way to earn, turning spare moments into rewards. Signing up is free and takes just a few minutes. Plus, new members receive bonus points to get them off to a good start. After that, you get to complete surveys on engaging topics and keep earning LifePoints.

Maximizing your savings doesn’t have to be difficult. By trying out these 10 creative strategies, you can save more, have fun while doing it, and enjoy greater financial freedom. And with LifePoints, you can turn your opinions into valuable rewards for an extra boost to help you reach your goals. Ready to start saving creatively? Join LifePoints today!