Most everybody wants to save money but many of the suggestions you may have come across online are either too complicated to stick with, or they simply don’t apply to you. Here are some ways to save money that are unusual, but that everyone can benefit from.
1. Lose the Stream
Most people vastly overspend on subscription-based entertainment. Some are actually surprised that they are paying for services they haven’t watched for months. If all you watch are older movies, why not just pick up a used DVD collection for super cheap from thrift stores. Want to go even cheaper? Get a VHS player for around $5 from the thrift store and pick up those old VHS cassettes you see everyone giving away?
For newer releases, go to your local library and rent them. If they don’t have what you’re looking for on their shelves, they can special order for you from their library network. Depending on how many services you subscribe to, you can save $100 or more every single month.
2. Buy Quality
While it may seem odd to spend more on a coffee maker when that $10 one from the dollar store looks to be the right price, you are actually going to spend less in the long run by buying a quality appliance. The quality one will most likely last for decades while the cheap one will have to be replaced after a year, if not sooner.
The same holds true for buying clothes. Instead of buying cheap, off-brand clothing, spend the extra money on the real deal and you’ll still have them years from now.
3. Take Out A Loan
While this may be the most counterintuitive of all, borrowing money to save money, is also one of the smartest. If you have student loans, which are usually owned by different lenders, it is actually better to take out a consolidation loan that pays off your existing balances.
This is because you can re-negotiate payment terms as well as have to deal with only one payment a month, instead of several. You will also see fewer missed payments by consolidating your student loans.
4. Move to The Country
While it may not be everyone’s cup of tea, moving out of a large metropolitan city to the countryside is a great way to not only save money but to get more bang from your buck as well. For the cost of what people are paying for a small apartment in a large city, you can pay that same amount for a large home in a rural town and actually own it within a few years.
That’s right if you were previously paying high rent, move into a home and continue to pay that amount and you will own the home in a matter of years, not decades. You will also save a small fortune on interest by doing it this way. Remember, while renting may be convenient, they aren’t making any more land, so owning your small piece of the world is a great investment for your future and possibly your children’s future as well.