Do you have trouble with money? It’s possible that you struggle to save because your money is actually draining away in wasteful areas. There are lots of areas in life where you might be spending a lot more than you actually need to. Cut the cost, and you will find you have a lot more money to play with at the end of each month. Let’s start by thinking about purchases that you should never have made in the first place…
Straight Out The Box
Financial experts will tell you that you should never purchase a car brand new on the market. The reason for this is simply the depreciation. When you buy a car, it will immediately start to drop in value. There is literally no way that you can make money off a car that is purchased brand new when it comes time to sell. Unless of course, you decide to purchase a classic. However, even then, you will need to be careful how much you drive the vehicle and what you use it for. You see? Even purchasing a classic vehicle, something that should always balloon in value, isn’t guaranteed to lead to an ROI. The obvious answer then is to purchase a car second hand. While this can be risky, it does mean that you won’t be losing as much money when it does inevitably start to drop in price Instead of losing half the value of the car, that value will already be gone when you make the purchase. There are other benefits too. You’ll be able to afford a nicer car, and that car will be cheaper to insure. Gocompare.com can show you how expensive it is to insure a Merc and one that is second hand will always be a lot cheaper.
The Package Deal
Are you booking a holiday this year? You might have heard that booking a package holiday is cheaper. Unfortunately, it isn’t. If you use a package holiday, you’ll be buying your holiday from an agent. They will search through the indexes and systems to find the right holiday for you including hotels, flights, add-ons and anything else that you might have asked them about. They’ll then bunch all these items together. But on top of that, you’ll need to pay for their services. Agents will typically add money to the cost of your flight to cover their service. As such, instead, it’s far better to use sites like Lastminute.com to find your own. Right now, it’s possible that your holidays are costing you a fortune, but they really don’t have to.
Throwing It Away
How much do you spend on shopping every week? Fifty, a hundred or more? If you’re spending a lot on food, you at least want to make sure that you’re getting the greatest use out of it possible. But most people don’t because leftovers get binned. Instead, you should be saving these, freezing what you can. With the right planning, you can have whole meals frozen ready to feed your family another day of the week. You’ll be amazed how much money this will save you overall.
We hope you find this advice useful when you’re looking for ways to cut back the waste in your life. Do you have other suggestions? Leave a comment!
*This is a collaborative post.