People go through a lot of stress financially, which can make things tougher for them. There are things to acquire or pay for, and these can impact the profits each day. If you are a startup business owner, things can get a little tough at first since taking off requires so much effort – and money – on your part.

But did you know that it is ultimately possible to save money without having to live in austerity? Whether you are a business owner or just any individual wanting to get financial stress out of your life, you can surely save more money if you want to. All it takes is determination, a plan, and these surefire tips to make your financial situation much easier for you in the long run. Take a look at these tips we have laid out for you, and try your best to apply these in your life.

1. Try to get rid of an unnecessary or massive expense.

You will be surprised to know that by simply making some alterations with your current lifestyle, you can save money and start worrying less about your finances. With some discipline and awareness of where your money goes, you can stop the outflow of cash and start having more money coming in.

Sit down and spend a few minutes as you examine carefully your utility or credit card bill the previous months. Do you see a pattern there? Are there some things that you end up spending on, yet these are not even necessary or essential in your life? Perhaps, this may be your constant expenditures on eating out at some fancy restaurant, or you are currently subscribed to a gym membership that you do not even use or need.

Once you have targetted these expenses that are not even worth it, make an effort to eliminate them completely. You will be able to breathe easily knowing that your bills are much less without compromising your basic needs in life.

2. Learn to simplify.

Being brand-conscious can lead you to more debts and greater money problems. But the thing is, at the end of the day, these are merely “stuff”. You don’t exactly need to buy or wear a fancy watch to be genuinely happy in life. Also, purchasing the most expensive car or getting a ton of outfits per month is not a necessity in life. In fact, even well-known multi-millionaires on the planet don’t even care about wearing designer outfits and items.

With this in mind, it helps to be more practical whenever you are out shopping. Get a grip of yourself and think several times before you purchase a pricey pair of shoes, belt, handbag, or anything that does not even qualify as a basic need. Be on the lookout for mall sales, if you can, or just be prioritize basic items over “wants”. Your wallet and bank account will thank you for it.

3. Compare prices for various medications.

If you must buy medications, make it a point to shop around and compare the different prices first before buying from a certain pharmacy or provider right away. You will be amazed to know that the rates vary from one provider to the next, so it matters to be more careful when buying your medicines.

In fact, your doctor can even help you save money on your medications. Inquire about a cheaper option without compromising the quality and effect on your health. This is particularly beneficial if you are taking one for a long period.

4. Take the time to declutter.

When was the last time you cleaned up your closet and checked if everything in there is actually useful? Maybe you can even get rid of some and sell them by having a garage sale or posting them online. Aside from the obvious benefit of getting more space in your closet, decluttering can be therapeutic. It is very uplifting to find your space much cleaner and more organized, particularly if it has been getting tough to fit things in.

If you want, you can also donate used but good quality clothing that you no longer need to charitable institutions. This is another option in addition to selling them to Gumtree, eBay, or Carousell, among the other global marketplaces for buying and selling.

5. Never allow leftovers to go to waste.

There are those who tend to throw away leftovers without even thinking about the amount of money they have spent on buying food. Even if it is only cheap, this does not give you a reason to keep throwing things away. It all adds up, so you should make it a point to be more responsible with your grocery purchases instead of simply putting them in the trash too easily.

Before you head out to the supermarket, make a survey of the items in your pantry and refrigerator. Double-check the items on your list to be sure you do not list grocery items that you still have at home. In the same way, determine how much leftovers you have in the fridge. If you have something that you can heat and consume the next day, then you have an excuse not to cook and just eat your leftovers. If you are the type of person who dislikes eating leftovers, then you should only cook the right amount of food that you believe you can finish during each meal.

6. Make it a point to unplug whenever necessary.

Do you have a tendency to leave electrical items plugged in and turned on even when you do not use them? Be mindful of this habit and get rid of it. Never use your TV as a radio, and just use a battery-operated unit for your music if you want something playing in the background while you work or do the gardening. Also, be aware of the lights you leave on. Replace bulbs with lower wattages and unplug electrical units or appliances that you do not use.

7. Advertise cheaply.

If you own a business, and you want to send a message out about it, make it a point to take advantage of cheap or even free advertising. Since online classifieds allow people to view your content fast, then it makes sense to use this route in advertising your company. What’s more, it is a breeze to edit or update your listing anytime you want. With the cheap cost, you can advertise as often as possible!

8. Let technology save you more money.

Several years ago, the only way to communicate with people from other parts of the globe is by using the telephone. This is not only inefficient, but it is very expensive at the same time. You are racking up bills each time you call people overseas whether it is for business or personal purposes.

But now, there are cheaper ways to contact and reach people abroad. You can simply make a video chat on Facebook or other social networks without having to pay massive fees! So, allow technology to save you money for your business without compromising your operations and dealings with clients.

9. Know your tax deductibles

Entrepreneurs have the opportunity to qualify for tax reliefs, breaks, and even deductions. These will surely give you a chance to increase your profits and limit your expenditures. There is such a thing as a Tax Exemption Scheme for Startup Businesses and also the “Angel Investors” Tax Deduction Plan.

The cost of living in Singapore may be high, but this does not mean you can never save money and grow your profits. With simple and doable ways, you can significantly improve your financial situation and avoid any more stressors in life with these tips that will guide you towards a more comfortable life without getting bogged down my money issues that can further lead to more problems over time.