Spent too much money on Christmas presents and are now left wondering how you can get back on your feet, financially? In this week’s blog, we’d like to give you some ideas of how to save money in 2015 to become and remain financially stable.
1) Be in the Know
So you know that you’ve overspent lately and decide not to check your finances to avoid the shock? While ignorance might work for some time, it’s best to know exactly how much money you’ll have to save to balance out, rather than hoping for the best. Uncertainty will stress you out more than having the evidence in front of you. And who knows, maybe a positive surprise will await you.
2) How Much Time Does it Cost?
We all are usually aware of how much money we make per hour in our jobs. Now, when you come across a “great deal”, wondering if you should go for it or not, a good advice is to calculate how many hours you would have to work to be able to purchase the item. For example, a student earning about $15 per your would have to work approximately 5 hours for these $80 shoes she wants so bad but doesn’t really need. Are $80 shoes really worth working 5 hours for?
3) Write a List and Eat Before You Leave
We’ve all been there: Standing at the check-out looking at a cart full of stuff, wondering how we ended up needing so many things when all we initially intended to buy were 3 little things. So, before you head to the store, write a list of items you actually need and allow yourself 2 impulse purchases. Only two. It also helps to eat a snack before you head out to avoid hunger buys.
4) Buy, Sell, and/or Swap
You don’t need to buy everything new. Often second-hand items are of great quality and much cheaper than in the stores. Electronics are sometimes sold a few months after the original purchase at a fraction of the price, so it’s certainly worth checking sites, such as Post a Note, for great deals, but also to swap or sell items you no longer need.
5) Keep an Expiry List for Contracts
Some (unfair) contracts use “auto renewal clauses” to bind customers longer to their subscriptions and contracts. For the knowledgable consumer it pays off to have an excel spreadsheet with all expiry dates so you can terminate memberships, contracts, and subscriptions you will no longer enjoy in the future before they get auto-renewed.
Next time you’re on the road, pay attention to how many individuals you see per car. We’re all guilty of using our cars excessively, sometimes even meeting a friend at a store and drive there individually. Wouldn’t it make more financial and environmental sense to carpool with colleagues, friends, and family if we’re heading in the same direction, even if picking one another up requires a short detour?
7) Abandon Trade Me – Join Post a Note
Why pay “success fees” if your items sell? Why pay a fee to have them listed on a website, if you can list and sell/swap them for free elsewhere? From the dollars you’ll save, you can buy yourself a nice treat!!! And we all know, you deserve it!
Your Post a Note Team
Image courtesy of Ambro at FreeDigitalPhotos.net