If you’re interested in learning how to maximize your disposable income, simply continue reading to discover 6 money saving tips, which will save you several thousand dollars per year.
6 Money Saving Tips That Will Change Your Life:
Avoid impulse shopping by implementing a 30 say stand down period
If you don’t require an item but are tempted to purchase it anyway, wait 30 days before making a decision. As once a month has passed, you should find that your urge to purchase the item which you were interested in has subsided.
You may be surprised by how much money you can save by avoiding impulse shopping. Just think, how many expensive clothes do you own, which still have their original sales tag attached?
Write a shopping list, before you go shopping
Whether you’re shopping for groceries or for new clothes, make sure to write a shopping list of the items you need, before you head out of your house. As having a shopping list in your hand or on your phone will make it far easier to avoid making costly impulse purchases.
Invite your friends over to your house, to socialize
You can easily spend over $100 a night by choosing to socialize with your friends at a bar or restaurant. So if you’re serious about saving money, it’s well worth inviting your friends to your house to socialize.
As an example, you may be interested in hosting a barbecue or an inexpensive potluck dinner. Or you may want to invite your friends over to watch a big game or to play cards. By choosing to socialize at home, you’ll save several thousand dollars in a single year.
Mend your clothes, instead of purchasing new clothes
Previous generations would mend their clothes, instead of throwing out their clothes. By learning how to mend holes in your clothes yourself, you can expect to save several hundred dollars per year.
When it comes to fashion, choose to invest in high-quality staples
While you may be able to get away with purchasing cheap t-shirts and accessories, it’s well worth investing in high-quality staples such as a pair of jeans which fits you perfectly and a pair of well-made shoes. As when you invest in high-quality staples, they’ll last you several years. Without needing to be replaced.
Although high-quality items often seem more expensive, if you work out the cost per use of a high-quality item versus a low-quality item, your high-quality item will provide more value for your money.
Get into the habit of drinking water
If you get into the habit of carrying around a refillable water bottle, you’ll save thousands of dollars a year. As most people spend around $40-$50 a week on coffee alone. Just imagine how much money you can save by choosing to forgo soft drinks, juices and alcoholic beverages in favor of water.
So if you’re serious about saving several thousand dollars per year, it’s well worth following the six handy money tips which are listed above.
