After a very difficult year, and while many are still struggling to make ends meet, the web is full or articles that tell us how to save money fast, but many time the cost of this is cutting down on everything you love. How can you save (a lot) of money without hating your life?
Not eating out, not spending money on movies or Netflix, not asking for food delivery, or not buying the clothes you like, may help you decrease your expenses a lot, but all these things also may take all the joy out of your life. How can you save (a lot) of money without hating it?
1. Pay in Cash
Paying in cash is a great way to achieve not going over budget. Also, if you don’t use your credit card, debt and interests are avoided. So this helps you to save money in two different ways. When you receive your salary, you should pay all your bills and fixed expenses and then calculate the money you will need for optional or variable expenses.
The money towards your savings account, your IRA, or your emergency fund is then separated at the beginning of the month and not at the end. This way saving is a priority. Paying in cash is a way of controlling your money in a better way.
2. Collect Coupons
Using coupons can save you so much money it’s almost ridiculous, but most people just throw them away as “junk mail”. The best part about them is that they allow you to keep buying the products you love and not switching to generic or store-brand products.
3. Pool your internet or Netflix bill with a neighbor
If you have a good relationship with your neighbors you can try talking with them to pool the internet bill. The same can be done with your Netflix bill, for example,l making these expenses ridiculously cheap.
4. DIY (Do It Yourself)
Watching YouTube is a great way of acquiring skills for free. There are tutorials on plumbing, basic car mechanics, repairing wet cell phones, and an enormous amount of things on which we spend tons of money. If you learn about these and many other essential services, you’ll be able to save by never having to pay for simple problems again.
5. Buy energy-saving everything
The easiest way to lower your bills without changing your habits is by replacing your lightbulbs and energy inefficient appliances. Although this will mean an investment at first, what you save on your electricity bill is well worth the money.
Traditional incandescent light bulbs consume an excessive amount of electricity and must be replaced more often than energy-efficient bulbs which use anywhere from 25-80% less electricity and last three to 25 times longer. This means that they cost less in the long run and are the clear winners in terms of their environmental and financial benefits.
The same happens with appliances. Although energy-efficient ones usually have higher purchase prices, their operating costs are 9-25% lower than conventional models.