Is there really a specific clever way of saving money? I believe all ways that end up with saving money are clever- unless they are bordering on being illegal. Despite this, you will always come across an idea someone used to save money, and you cannot help but admire its ingenuity.
Some are outright outrageous, while others are pure genius. Here are some of the clever tactics people worldwide use to save money.
Always Make a Counter Offer
You may leave money on the table if you do not make a counteroffer. However, do not be too greedy when doing so. Do your research, learn about the pay range, and offer a counter that falls in that bracket.
Do Not Go Shopping When Hungry
This prevents you from impulse buying at the grocery store. Your focus will be on fulfilling your body’s demands, and you can easily overspend.
Run Appliances at Certain Times
In some states, electricity is cheaper at certain times and days of the week. Call your service provider, and you could probably save some money on electric costs. Others give discounts to elderly people.
Buy a Couple Steps Above the Cheapest Option
Do not always go for the cheapest option, especially if buying electric appliances. There is a reason they are cheap. Save up, wait for deals, and buy something more durable that will offer you value for money.
The rich remain rich because they spend less. This does not mean they are cheap. They use the ‘boots theory’ concept. This says that sometimes the cheapest stuff is expensive in the long run because it keeps breaking down and has to be replaced constantly. When you buy something quality and expensive once, you do not have to worry about replacing it for a long time.
Do Not Acquire Things You Want, Avoid Things You Do Not Want
Money impacts happiness only to a certain extent. Beyond that extent, you are no longer excited about spending money.
Live Like a Broke College Student
If you want to save money fast, consider living like a broke college student;
- Cancel all subscriptions
- Drink cold water
- Go to public places such as parks whenever you want to have picnics and outings
Avoid Having Kids
Kids are expensive, and unless you have set your affairs so you can afford to cater for them, keep off having kids as long as possible.
Give Yourself Allowances
Allocate yourself an allowance every time you get a paycheck. Use this allowance as you wish. Save the rest after paying utilities.
Have No-Spend Days
Allocate a couple of days a week where you spend nothing. Channel this money into savings. Prep your meals to cover these days.
Make Savings a Hobby
Play a game with yourself on what you can save money on. Keep track
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This article was produced and syndicated by A Dime Saved.