Let’s be real – all of us are guilty of indulging every now and then. Some times it’s eating out, shopping or buying that unnecessary video game. But one of the most beneficial habits one can have is to save that money. Here’s 10 things that you can avoid to start saving money.
Eating Out
Eating out can cost anywhere between $10 – $25 a person easily. If you lead a busy life, chances are you are eating out at least 3 times a day. Instead of wasting all that money, give meal-prepping at home a try!
Phone Upgrades
With shiny, new smartphones coming out every month, it is tempting to ditch your old hardware for something cutting-edge. However, most phones produced now days are actually designed to be last longer than ever before. Take good care of this asset and you can easily save $800 – $1000 a year.
Clothing and Apparel
Fast fashion companies such as Zara, H&M, Mango are thrive on the ‘use-and-throw’ consumer behavior towards their products. Instead of skimping on quality and being forced to buy repeatedly, make a one-time investment into something that would last longer.
Lottery Tickets
Let’s be real – chances of us winning that lottery are pretty slim and yet oh so tempting. Build your wealth by cutting out on these cost, not by dreaming about a slim possibility.
Extended Warranties
Extended warranties are usually a waste of time and money for things that can be repaired easily at a far lower cost. Find a local mechanic or technician, chances are their repairs will be a lot faster and cheaper than cashing out a warranty.
Cable TV
Is Cable TV really a thing anymore? We live in the era of instant online content – be it paid or free. Anything that you can find through cable, you can find online for free. I guarantee you.
Impulse Purchases
Never go grocery shopping hungry. You’ll end up getting all these extra items that will be forgotten about in some dark corner of your fridge. Save your money by differentiating between your needs and wants and focus on the former only.
In-game purchases
Yes, I know buying all those virtual coins is so important for you to build your virtual fort. But you can also easily cut out this cost without significant impact on real life. Cancel all those subscriptions and delete those apps if you have to.
Cars
Cars are one of the fastest depreciating assets. In layman’s terms, they lose value really quickly. Instead, save on gas, repairs and parking by switching to a reliable form of public transport, cycling or even just walking!
Small one-time expenses
Think about the number of times you pay for a one-time use product daily. For most people, these products are usually coffee, snacks, cigarettes etc. These small expenses usually add up to a significant amount at the end of the month. With good planning, one can easily cut them out and save some money.
Thinking about earning some additional cash? Here are some ways you make that extra dough.
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