Saving money does not have to be too difficult. Here is a secret – you do not have to be a millionaire to save, you can save even when you are just fresh out of college, and beginning to work. It does not have to be about investments and financial portfolios. It is just certain changes in your lifestyle that you can make in order to save a little bit more than you do, if you already do. Try the below mentioned effective yet comfortable ideas to save for your future needs happily.
1. Your Television Cable Might Be Unnecessary Expenditure
It is true that there was a time when one could not do without the Television cable. Things have now changed with the advent of technologies such as social media and Netflix. If you are already subscribed to some of the online providers, paying for the TV cable sounds superfluous. Besides, not having the TV on all the time might help you get your interests back into other forms of recreation, mainly your creative arenas.
2. Insurance Bills Are Not Always Truthful
This is one area where many people are likely to go overboard, simply because insurance statements are complicated. You want to protect every major possession, but did you check all your insurance bills at least once to ensure you are not covered for one product from multiple agencies? It might be a good idea to take some time out, go through all your bills, and eliminate the ones that look redundant.
3. You Might Be Paying More for Your Phone Usage Than Required
A phone is a device no one in the modern world can live without, so it is not a practical solution to cut down on your phone usage. All you need to ensure, however, is that you do not end up paying more than your usage. Choose a service provider that provides the maximum benefits for the monthly plan, and switch telecom companies if another provides a much lower rental for your usage.
4. Cook at Home, Reduce Dining Out
Save ‘going out to dinner’ for special occasions, and try to eat at home as much as possible. It not only saves you money but is also beneficial for your health. Moreover, cooking has therapeutic effects for stressed out minds. If you are pressed for time, try to cook in advance in batches that can be stored in the freezer. Grab your lunch, heat it in the microwave, and you are all set.
5. Having Fun Can Be Inexpensive If You Want
If the definition of having fun means going to expensive lounges, adventure sports, frequent movies, and so on, you might want to apply some brakes. There are several other ways to have fun that do not require thousands of dollars. Cook a simple dinner with a decently priced wine, and have your friends over. Go out to a book reading, or a free handcraft workshop, or an underpriced exhibit, you would save, and you would learn a lot.
6. Being A Member of a Gym Is Way Overrated
You might be one of those who actually go to the gym regularly, and benefits out of it, but many others have simply signed up for a membership and forgotten. For some, a membership to the gym is often a sign of inclusion in their friend circles. Either way, if you are someone who pays a hefty amount for a membership you do not use, it might be a good idea to cancel it. Exercising without the gym, on your own, is also a viable option for those who want to stay fit but do not want to spend money on a gym membership.
7. Paying Bills on Time Can Save You More Than You Think
It is always a good practice to pay your bills as soon as they arrive, or at the very least, pay them a couple of days before the due date. If you wait until they send you a notice, your late fees would have already accumulated, and in some cases, you might end up paying almost double the amount of your original bill. There are two ways to go about it. One is to fix one particular day of the month when you pay all your bills at one go, and the second is to schedule reminders 5 days before the due date of each bill separately.
8. Impulse Buys Are A Strict No-No
Almost everyone loves to shop, but some people tend to go overboard whenever they shop, even if it is at the grocery store. You might be walking down one of the aisles of the store, and pick up something randomly, without even gauging your need for it. If it sounds like you, you need better planning. No matter where you go for shopping, always carry a list of things you need to buy, and whatever happens, stick to the list.
9. High-Priced Purchases Should Be Carefully Evaluated
Everyone likes to have the ‘good life,' but if you pause and evaluate, you might realize that not everything you buy is what you need, especially the luxurious items. For example, if you want to buy a good set of speakers, and you are not much into music, it does not make sense to bring home the most expensive speaker there ever was. You could be happy with a low-priced one that produces a decent quality of audio output for you to enjoy your songs in the background.
10. Money Saved on Transportation Really Adds Up
Do not take the car out for every place that you have to beat. If the store is a 5-minute walk from your home, it is easy to avoid transportation. Every time you take the car, or a cab, or a bus, you are spending money that seems frugal but starts to burn a hole in your pocket over time. Additionally, walking is always a healthier option and prevents several lifestyle diseases.
Little Drops Make an Ocean
Saving money is about patience, and as in other aspects of life, it is the little things that matter. Your investment portfolio might gain momentum one day only when you have saved enough from your everyday spending. For those who have been living a carefree life, these small changes might seem daunting at first, but you get used to them over time, and then you start saving almost involuntarily.