When you are trying to save money and create a budget, you might be looking for the cheapest option for everything from new shoes to your cable bill. But remember that there are times when paying a little more can actually help you save money.
01 of 10: Online Grocery Shopping
Planning a meal list can save you a lot of money, but in order to be successful at it, you need to go grocery shopping. Not only does it take a lot of time, but grocery shopping can also be expensive if you shop without a plan.
In this case, you can save money if you order groceries online, basically paying someone to shop for you. Many stores offer online shopping options, where they can deliver it to you or you can pick it up from the store. The fees depend on the store, which you may have to pay.
This will not only save you time, but the fees may be much lower than what you would spend on unplanned purchases in the store. It’s a win-win.
02 of 10: Living in a Better Neighborhood
Although living in a better neighborhood may mean paying higher rent or mortgage, it can save you money in the long run. First, your home, renter’s, and even car insurance payments are likely to be lower, as you live in a better area.
Another advantage? You may save money on your commute, as more expensive areas usually lie in more desirable locations, such as within city limits or close to workplaces. You should also consider public transportation and neighborhood options that can help you save money on your commute and prevent you from needing a car.
You may also be able to save money on your gym membership, as better apartments may have free or included fitness centers.
03 of 10: Meal Delivery Services
Using a meal delivery service is a great way to save money if you are trying to transition from eating out every night to cooking at home.
Meal kits provide options that make cooking at home easy, and they usually come with ingredients and easy-to-follow recipes.
It’s a great way to get used to cooking at home and can help you build your confidence in the kitchen. It will also save you money when it comes to buying expensive ingredients for new recipes, like spices. Eventually, you’ll want to move on to creating your own meal plan and saving money that way.
Another way to save money with meal delivery options? Take leftovers to work the next day for lunch.
04 of 10: Buying High-Quality Items
When shopping for big-ticket items like furniture, appliances, or even clothing, it may be tempting to buy the cheapest items you can find.
But you may actually save money by choosing classic items that are made to last. For example, if you buy a $400 vacuum that lasts ten years, it will cost you about $40 per year. But if you choose to buy a cheaper $100 vacuum that lasts only two years, it will cost you $50 per year.
To ensure you are purchasing high-quality items, do research on any large purchases before buying. Check online reviews, look at the manufacturer, and read publications like Consumer Reports.
When it comes to clothing and furniture, choose items that will endure trends, but are easy to update so you can refresh the look without buying new furniture.
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10: Buying Healthy or Organic Food
When trying to save on food costs, it can be tempting to cut corners by choosing cheap, processed, or canned foods. However, this can end up costing you more money as it negatively impacts your health. Additionally, if you aren’t excited about the meal you’re preparing for dinner, it’s easier to buy ready-made food on your way home.
Try shopping around for organic and healthy foods. For example, Trader Joe’s tends to be a bit cheaper than Walmart on many items. You can shop at farmer’s markets or join a community-supported agriculture share to save money on fresh local produce. You might also consider buying in bulk to save money.
06 of 10: Buying Organic or Healthy
It can be frustrating to have to pay to shop somewhere. It seems unreasonable to pay to go to a store or for delivery. However, memberships at big box clubs like Costco and Sam’s Club can save you money, especially if you buy items in bulk. Similarly, you may be able to save money with online memberships like Amazon Prime, which sometimes offers lower prices on certain items for members, along with free shipping and streaming.
However, you should compare prices for different memberships. Additionally, you need to make sure that you will use the bulk items before they spoil. If you are throwing things away, you aren’t really saving money. Properly storing bulk items like rice and flour can help extend their shelf life.
07 of 10: Buying vs. Renting a Home
Owning a home may be more expensive than renting, especially when considering the costs of home maintenance and property taxes. However, buying a home allows you to build equity and provides an opportunity to save money and increase your overall net worth. That said, you need to ensure you’re ready to buy a home before proceeding.
But first, make sure you’re finding a home you can afford. When considering apartments or smaller homes, be sure to factor in monthly maintenance fees into the total payment. It’s beneficial to have a strong down payment. You should also have a solid budget that you can stick to so that you don’t end up broke and regretting your home purchase decision.
08 of 10: Having Insurance Coverage
Insurance can be expensive and there may be times when you don’t want to pay for it. If you are healthy, it may seem like a large portion of your paycheck goes to health insurance coverage. You might feel similarly about car and renter’s insurance. However, if you end up with an emergency, you could spend thousands of dollars without insurance.
Look for discounts through your employer or alumni association. You can bundle policies for discounts. Increasing your deductible can also help you save money on your monthly insurance premiums.
09 of 10: Buying Exercise Equipment
If you are serious about exercising, purchasing some pieces of gym equipment and canceling your gym membership could save you money in the long run. The savings largely depend on how much you spend on your gym membership. Space may be an important factor for you, so something that folds up may be better than larger pieces. For example, free weights may be a better option than a weight machine.
Shop around for quality, inexpensive equipment. You should also only buy the type of equipment you typically use at the gym. Don’t buy something just because it’s on sale or because you think you might start using it.
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10: Having Money for Entertainment
It’s important to set aside a certain amount of money each month that you can spend on entertainment or things you want but don’t necessarily need.
This may seem counterintuitive, especially if you’re living on a tight budget and money is limited. However, having some money allocated for entertainment will make sticking to your budget much easier.
Here’s why: when you cut back too much, you often end up feeling frustrated and spend even more money in the process. You’re likely to spend more money this way compared to just setting aside some money for entertainment from the start.
It’s important to stick to the allocated amount. It can help to keep this as cash, or if you spend most of your money on one particular website online, consider buying a gift card for that site each month. You should also factor in the entertainment money into your budget. If money is really tight, it may just be $20 a month.
Source: https://www.thebalancemoney.com/10-ways-paying-extra-can-help-you-save-time-and-money-4083248
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