There is an old adage that states “it takes money to make money.” Interestingly, that can apply to saving money as well. It may sound counter intuitive, spending money to save money, but a person’s willingness to splurge on certain items can actually provide that individual with a little extra cash. In other words, there is a time and a place to spend and a time and a place to save. Here are our top 10 ways to save money:
1. Time is Money
If we can stick with the wisdom of old adages, time is money. Either directly through a salary or hourly paycheck our time is worth money. Every minute of our time is an investment into our future. Your down-time/relaxing time is worth more when you wisely invest your time while at work. Managing our time properly can save a lot of money.
If you can do it yourself, give it a shot! Outsourcing duties such as yard work or cleaning may actually be financially responsible in the long run. There are some tasks that should be left for the pros, but if you can do it then give it a try and save some money.
Improving yourself either with additional education or other worthwhile self-improvements can help you earn more money in the long run.
4. Sales & Coupons
That really expensive TV or shirt you’ve had your eye on might be going on sale soon. Check the stores next sale and ask what items will be on sale. Finding sales is really beneficial. You never know, that sale rack could have some hidden gems.
There are plenty of resources today that offer great coupons! Coupons may seem like you’re not saving a lot, but it really adds up over time.
Budgeting your food properly is one of most important items on our list of top 10 ways to save money. The amount you spend on food can really add up and cause financial burdens. Work out a budget on how much you can spend each month on food. Strive to eat at home as much as possible, and save eating at your favorite restaurant for a special occasion. Prepare your meals throughout the week so you can bring food to work or school.
6. The Dollar Store
Buy these great items at the dollar store and save money:
- Seasonal Decorations
- Cleaning Supplies
- 2 for 1 Greeting Cards
- Hair Accessories
- Party Supplies
- Movie Candy
7. Buy in Bulk
There are some items that are really good to buy in bulk. Often times, buying in bulk will save you money in the long run. Here are some great items you might want to consider buying in bulk:
- Office Supplies
- Light Bulbs
- Trash Bags
- Dishwasher Detergent
- Dry Rice
- Dry Beans
- Dry Pasta
- Laundry Detergent
- Toilet Paper
8. Yes, No
Look at your own situation and decide what is worth spending money on and what isn’t. Understand that some expenses are necessary, others or superfluous, and some can pay you back with worthwhile investments into your future. Learn when to say yes and when to say no.
9. Create a Budget
Creating a budget is very important and plays a major key in budgeting. If you don’t work out a budget, then you will have a hard time saving money.
Creating a budget is one of the top ways to save money. Start creating a budget today so you can start saving money!
10. Emergency Funds
Sometimes life throws curve-balls at you and unexpected expenses happen. It’s important to have emergency funds for these types of situations. Having emergency funds will really help you save money in the long run.
We hope you have enjoyed our 10 ways to save money. Thanks for reading!