Thinking outside of the box
When it comes to saving money, it’s easy to adopt a few simple measures to save here and there, but what if that’s not enough? Sometimes we have to seriously tighten our belt buckles and find ways to keep cash in pockets, when it seems to be dribbling out of a never ending hole and into someone else’s bank account.
These changes have to be major, in order to save big, and they’re not for the fainthearted, but when put in place in the right way, the savings are rewarding to say the least.
If you’re ready for major savings, read on.
Get rid of the car, embrace cycling
Petrol costs seem to soar year upon year, and the price of even buying a car and insurance, not to mention breakdown cover and tax, all adds up to a seriously large price tag that we wish didn’t exist. Well, the easiest way to stop that? Get rid of the car. Yes, I can hear those collective intakes of breath, and yes it is going to be a major lifestyle change, but it is possible to live without a car! Instead, why not take the plunge and buy a second hand bike online instead? Think about it, no initial major cost, no petrol, no breakdowns, no tax and no insurance, plus plenty of exercise and you’re saving the environment too.
Make use of that spare room
If you have an unoccupied spare room, have you ever thought about taking in a lodger? Obviously you need to own your house to be able to do this, but taking in a lodger means a monthly influx of money through rent, and your extra bills such as electric and water will be covered, as you will also charge them for what they use. You never know, you could make a new friend too!
Downside your home
This is a particularly good idea if you rent a large house and you find that you could pay less rent on a smaller place. If you own your home, think about downsizing and cutting down your mortgage that way. Smaller doesn’t always mean worse, as you will save money on decorating costs, heating bills etc.
Stop smoking and cut down your drinking
You might think that cutting down on these things means you’re cutting out the joys in your life, but this isn’t the case. You will save major amounts of money per month by stopping smoking, save your health, and after a while you’ll probably think it’s the best thing you ever did. Maybe also cut your nights out down to once a week, rather than a few nights, if this is the case. The money will seriously add up.
Growing your own vegetables is not only healthier, but saves you money too. You could take this one step further and go vegetarian, cutting out the need to spend money on meat on a weekly basis. The cost of meat is going up just like the cost of petrol, so if you can cut this out completely, supplementing your diet with home-grown produce, you will not only improve your health in certain ways, but you’ll also improve your financial situation.
These are just a few major changes you can make to your lifestyle that will keep cold, hard cash in your pocket, whilst also benefitting your life in positive ways.