Whether you experience tough times or just want to save up for the future, money saving is always a good habit. Knowing how to save money will make you a better investor and you’ll budget better in the future as well. If you are no stranger to freezing your credit card in the block of ice in order not to spend any more, you will definitely like the following tips and advice.
This is perhaps the most unconventional way of saving money. According to Tilman Fertitta, an American billionaire, and a TV person, borrowing money when times are good leaves you more money when times are tough. He, personally, began climbing up the billionaire ladder by loaning $6000. When you take a loan and repay it due all dates and conditions, you better your own credit history which pays well in the long run. Even if you pay back the loan with interest, this money will end up in your bank account.
Whether you apply for a loan at the local bank or use the help of the lenders connecting service like Personal Money Service, you’ll receive priceless financial advice and master the liquidity aspect.
Stop Using Paper
This item on the how-to-save-money list includes all paper products you’ve been using (even toilet paper). You can learn to do without paper napkins or paper plates. Buy plastic plates and reuse them until they are good. Make notes on an IPad instead of Post-its. Use washcloths instead of toilet paper. As much revolting as it may sound, some people got used to utilizing washcloths and then washing them with bleach to reuse later.
Flush Less and Be Green
You actually need less water to flush than the toilet tank can hold. Place sand or rocks in order for the tank to take in less water. Some people also flush only when they do a number two. In addition to saving money, you also help the nature by not wasting water.
Look For Useful Goods in the Trash
One man’s trash is another man’s treasure, as they say. That’s why trash-diving has become one of the most popular money saving activities. People pull out some great clothing and decorating items from dumpsters. Some daredevils even eat food they find there.
Craft Your Own Stuff
There are plenty of DIY videos and podcasts that have made lives easier. They can teach you anything from remodeling your clothes to making your own cosmetics, thus not having to buy new and saving money.
Give Up Your Car
With the cost of the car insurance policy and gas constantly rising, it may be useful to forgo a car. With the abundance of public transport available and various cheaper ways of transportation, you can do without the car and all the expenses that go with it. Take the bus, ride a bike or walk; either way, it’s cheaper than driving.
Move to a Smaller House (Apartment)
The smaller the house is, the less the cost is and the fewer expenses there are on the appliances and facilities. That’s why some people opt for moving into smaller apartments or houses. They sacrifice space but save money and save nature.
Don’t Buy New, Fix the Old
Instead of purchasing the newest gadgets, wait for them to be on sale. Instead of buying new things, buy used ones that are cheaper. Fix the things that you have to save money and learn some new skills. This is one of the best ways to manage your wealth.
The tips above may seem too extreme. You are free to choose whatever way of saving you like. Remember, that the first time you try and save money, you’ll never go back to splurging and overspending. Take advice and use these tips to learn the cost of money and learn a priceless skill for the future.