Life can be expensive at the best of times, but when it gets to winter, it always seems to amp up a little. Whether you’re moving in with your significant other in the New Year, or you want to try and save up so that you can do that in the future, this time of year always makes you rethink your finances.
Cutting back doesn’t have to be restrictive or that hard. You just need to be smarter about what you spend and you’ll soon to save money and maybe even see some savings stack up too.
Know What You Spend
Before you start implementing anything, you’re going to want to work out exactly where your money goes. You might think you know how much you spend each month, but do you actually? Write everything down, add it all up and put each purchase into a category, such as groceries, car payments or utilities. Then, you’ll be able to work out where you can save money. You might even spot payments you made that you really don’t need to be.
Another way to save money applies to the online shopping that you do. There are certain cashback sites that give you money back for the shopping that you’re doing online anyway. So, it pays to sign up for them and get money back. Say you’re making a grocery order online or buying an outfit from your favorite store, by making your order through the cashback site first you’ll be saving money on your shopping overall.
One of the biggest household areas we spend a lot of money on each year is our utilities. If you find that it costs a lot of money to run and heat your home, it could be worth going renewable. Options such as solar electric panels can save you money in the long term. If you’re asking yourself, ‘what are solar electric panels and how can they save me money?’, then it’s time to do some research and think about saving more money over the course of a year.
Buy In Bulk
If you buy a lot of the same things, week after week, it could pay to spend more when you spot. Buy items in bulk, and you’ll save money in the long run. Items such as toilet paper, cleaning supplies and even canned goods for your pantry can be bought in bulk. When you buy in bulk, the cost per item is always cheaper. So the next time you run out of the essential everyday items you use around the house, invest in a larger quantity – it’ll save you money overall.
If you’re ordering a new item, upgrading an exciting contract you have with a company or making a big purchase, it might pay to work on your negotiating skills. Shopping around is important when you’re trying to save money, but it’s especially important when the payment you’re making is higher. By shopping around, you have leverage when you come to negotiate and it could get you a better deal that is currently available.
Photo by Swaraj Tiwari
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