Tips for Saving Money so You Can Have More Time for Your Side Hustle
I’m sure that you’ve heard the phrase ‘Time is money’. Every pound or dollar you have was earnt because you exchanged your time for it. Rich people save time on housework because they can pay a cleaner. They can just enjoy their garden instead of working in it by paying someone to cut the lawn or weed.
You’re here because you wish you had more time for your side hustle, but as I said ‘time is money’ and there are ways to get more time by buying it. In other words you pay someone else to give you their time. This is time that you don’t have to spend doing a task in your side hustle. It may also be more efficient because they are a specialist and will do the task quicker and better than you. For example you could pay for someone to design and build your website or a virtual assistant to manage your emails. Money can also save you time when it comes to learning. Whilst there’s lots to be learnt on YouTube, if you want the easy route to building knowledge and skills then buying a course is the answer (and obviously I have to mention my courses, so click here if you want to take a look). Paying for tools can also save you time. One example is Canva Pro. Before I signed up to this I spent ages on the free version looking for the right images for my Instagram posts or blog posts. The options were much more limited and I often struggled to find what I was looking for. It took a long time. Now I pay for Canva Pro I can choose any images I want and spend so much less time creating my Instagram slides.
The thing that I bet is burning on your lips is ‘but I don’t have any spare cash to be able to afford these things’. Don’t worry. Read on for loads of great money saving ideas to keep some extra cash in your bank account to spend on your side hustle and ultimately save you time.
Before I go on you may be asking what qualifies me to talk about saving money. I’m the time management guru, not the financial expert. You’re right. I’m not a financial expert, but before I started helping people with finding time for a side hustle I used to blog about saving money. I started on what I would call my frugal journey after my partner got made redundant and I was looking for ways to save money. I read loads and loads of blog posts, listened to podcasts and watched endless YouTube videos. In fact, I still subscribe to several frugal living YouTube channels. So these tips are just a few that I have picked up over the years, many of which I implement in my life every single week.
So here goes, I’m just going to give you bullet points; no discussion, just a suggestion. You pick the ones you think would work for you.
Household
Have fewer takeaways
Shop at a cheaper supermarket
Buy supermarket own-brand products
Eat less meat and more beans and lentils
Turn the heating down and wear more jumpers
Meal plan so you don’t waste food
Walk or cycle when you can instead of driving
Stop ironing everything - choose what’s important to you and just iron those things
Do less laundry - wear your clothes for longer
Entertainment
Eat out less - invite friends over instead, maybe have a bring and share
Cancel streaming services and just watch free TV
Reduce your alcohol consumption; alternate with water i.e. alcohol drink, glass of water, alcoholic drink, etc.
Meet friends for a walk instead of lunch or coffee
Stop buying books and use the library or start a book swap with your friends and neighbours
Cancel your Audible subscription and use Borrowbox (free with your library membership)
Have a staycation instead of a vacation/holiday - stay at home, have days out every day, don’t do any chores, have movie nights and nice meals at home
Personal Care
Stop buying clothes (except for essentials like underwear).
If you want to shop for clothes go to the local charity/thrift shop
Cancel your gym membership and exercise at home - you can follow workouts on YouTube
Dye your own hair
Do your own nails - or invite a friend over for coffee and do each other’s nails
Shower less - just have a wash (of the smelly bits) at the sink a few days a week instead of showering daily
So there you have it. My tops tips for saving money. Money you can then spend on your side hustle to save you time, to pay someone else to do something for you, such as a virtual assistant, buy a course or subscribe to a tool that saves you time. Or whatever else you want to spend it on that is going to save you money.