Loving the finer things in life is definitely not a bad thing, but if you’re living to a budget you may struggle with the idea of keeping your lifestyle the way it is when struggling financially. Thankfully, being frugal doesn’t mean giving things up that you love. You can still enjoy a full and well-rounded social life and stay on trend without compromising on the quality you are used to, you just have to be smart about it.
The most important thing to remember is that you don’t have to spend every penny that you earn each month. Some of the wealthiest people in the world live way below their means instead of beyond them, allowing them to have a surplus amount of cash each month. You won’t have to scrimp forever to be able to save money, but you definitely have to learn to prioritise where your money goes. Some of that prioritising comes from the essentials in your life; get a new quote if your auto insurance rates are too high for your car. Learn to shop around with your groceries in different stores to get the best deals. Sticking to the brands that you know instead of swapping to store brand options is the worst way to spend money that you need to be saving instead.
So, if you’re looking to save money but not compromise on your lifestyle, we’ve put together some of the best ways to save your cash without skimping on quality.
Housing Costs. If you’re lucky enough to own your own home, then you know that refinancing is an option for you as you pay your mortgage. Sometimes, refinancing can save you money and change your monthly payment to one that is lower and more affordable for you. This saving that you make can add money to a savings pot and start you off on the path to home improvements if that’s the way you choose to go.
Eating Out. One of life’s many pleasures is eating out in a luxury restaurant with friends. Not having to deal with washing dishes or clearing up, or even cooking, is a pleasure and everyone would consider dining out as a treat. You can save money on eating out by doing it less than you are used to, and using websites like this to find great coupons and deals can get you money off the meals out. The extra cash you didn’t spend could be added to your savings account and build up slowly.
Coffee. Sounds like such a small expense, doesn’t it? The thing is, if you are the type to buy a coffee a day or more when you’re out and working, those costs are going to rise. Two coffees a day could cost you $50 a week; that’s a lot of money on coffee! Buying yourself a travel mug and owning a coffee machine at home could save you an awful lot of money. If you simply cannot give up the coffee, you can always just go for one less coffee a day and half the cost you pay out. It’s good for your health to have less coffee, so you’re not just doing your wallet a favour.
Utilities. Your utility bills, unless fixed rate, can change through the year. By using comparison websites often, you can choose whether or not to renew contracts with utilities companies instead of paying more than you should be for the same service. There’s nothing wrong with saving money on staying warm, especially when you can get just as much energy usage without spending as much cash.
Clothing. Going out at the weekend shopping with friends is a simple happiness for most people. However, spending hundreds of dollars on a pair of jeans isn’t a smart idea when living to a budget. Learn to shop around at discounted stores like TJ Maxx and Marshall’s instead – you can still get the good brands without the designer price tag attached to them.
When you are reorganising your finances, you could find yourself struggling with where you place your money. What you must remember is that in the long run, you aren’t swapping the quality of your lifestyle, simply the price tag that comes with it. If you can still have the same life without spending all your money each month, then surely doing a little research on swapping things over is worth it? Never doubt your ability to live well for less.