Saving money is something we’ve all needed to become better at doing in recent years. However, most people would probably admit that they could do more. With this in mind, we’ve taken a look at the top five ways you can save money, with some included that could even help you to make extra money on top of the savings for a double dose of financial benefits.
Yes, we know this is probably a very boring idea that you might not want to hear, but the stark reality for the vast majority of people is that changing their lifestyle will have the biggest impact on their finances.
Why don’t people do this? Generally, it’s because they believe their lifestyle is something that is fixed and they then look to earn money to satisfy this. Not a problem, but at the same time if you want extra money it isn’t always going to be easy to get another job and a pay rise.
Think about what you’re spending and if you really need to be spending such amounts. Many people don’t make savings when they think they’ll only save a little, but in terms of the bigger picture you’ll save a great deal more than you expect. It all adds up!
Lose the Car
Some people might throw this into the lifestyle category, but for us many people see a car as an essential rather than as a lifestyle choice. Take it from this author, who thought he needed a car until the day he got rid of it and has saved a small fortune since, without having any problems getting around or living his life. Oh, and he has kids, too.
Yes, public transport costs are increasing, but using it is still cheaper than owning a car in most instances, and you’ll be doing the environment a good turn, too.
Find a Wealth Manager
Even wealthier individuals find themselves looking to save money. If you’re one of these, then using a wealth management company like ACPI is definitely something you should explore.
You can even connect with employees of these companies online through various social media websites, making it easy to discover what they do and how they can make a difference to you. This is an idea that can make you money as well as save you money.
Downsize Your Home
Bigger isn’t always better when it comes to where you live. We’re not saying you need to go to IKEA and get one of their concept homes that puts a whole house into a very small space, but do you really need the two spare bedrooms and third that you’ve converted into an office?
The money you’ll save on a smaller home is huge, too, especially if you’ve paid off your mortgage and will make a profit on the sale; you’ll even have the money for a great holiday!
Go to the Bank
If you don’t want to make too many changes to your life and want to keep your money saving simple, then go to the bank and try a fixed term bond. You can’t withdraw your money, so you’re certain to save rather than spend!
Spend time online and look for financial resources that will help you to make the best decisions for you.
- License: Creative Commons image source
Graham Barker likes to consider himself a savvy individual who does a lot to save money in his home. As a result, Graham is able to have luxurious holidays every year although he still lives very comfortably despite having a simple life.