The major principle of personal finance is a very simple one to understand: when you spend less, you save more. If you follow this principle as closely as you can, you shouldn’t have any problem living well within your means and expanding on your wealth, but there’s a big difference between knowing these things and putting them into action. It’s common sense that we should save as much and as often as we can, but life in our busy, highly consumer-driven world makes it difficult to make that happen. Are you looking for the secret to saving more each week and you’ve already cut out those expensive coffees? If you’re looking for better suggestions that have the secret to saving locked away inside, some of these fresh, lesser examined ideas should give you the key. These unique strategies will open your eyes to the money you could be keeping in your account that you’re otherwise throwing away.
Switch Your Phone to a Non-Traditional Cell Carrier
In this day and technological age, smartphones are becoming the standard phones to buy and that technology is not something that people are typically willing to compromise on because staying current and up-to-date is so important: even if it means paying a premium price for it. There were alternative options out there, but they’re slim to none and switching to a less expensive cell phone plan used to mean a lesser quality calls and a less desirable phone selection. Today there are even more alternative companies cropping up that offer both great service and more affordable yet desirable phones. Republic Wireless is a cell phone provider that offers Motorola smartphones and no-contract plans that start as low as $5 a month. Their most expensive plan rounds out at $40 a month.
Other alternative providers like Cricket, Freedompop and Scratch Wireless that provide valuable service at a fraction of the price the big guys charge and this is a big secret to saving.
Get in on the Share-conomy
The term share-conomy might be made up, but the concept of a sharing economy is not. A sharing economy combines both human and physical resources and the internet can be a great place to find one. You might not even realize how many aspects of the sharing economy that you’re already familiar with, like ridesharing services such as Uber and Lyft. Airbnb is another type of service that allows people to share their space with travelers that want to avoid expensive hotels. Participating in a sharing economy helps you save money by reducing ownership costs of otherwise expensive goods or assets. This a useful secret to saving big in the long run.
For example, renting out rooms in your home will help you save money out of your own pocket on your mortgage and if you’re looking for a place to crash that’s much cheaper than a hotel, you can find someone to assist you with your needs.
Unsubscribe from Those Email Alerts
Simply cleaning up your email can be a big secret to saving. It might not sound like a big deal, but unsubscribing from the email lists of all of those stores, restaurants and websites you get will help you find the temptations of shopping when you should really save. Emails are so tempting because they’re usually bribing you with some kind of discount. It might feel like you’re saving a bundle since you got a discount, but in reality, you’re really spending more than you would have if you didn’t buy anything at all: and that money could have just went towards your savings.
Make Lifestyle Changes That Reduce Your Needs
If you’ve already made it a point to live on the more frugal side of the spectrum, you’ve made a great step with the secret to saving. Being frugal doesn’t mean being cheap, but it does mean that you’re more resourceful and you don’t waste as much. Knowing how to live well while keeping expenses to a minimum is a big deal. The only thing better than frugality is the changing of habits and attitudes that reduce your needs.
No one needs to go out four times of week spending lots of money to have fun. You should get back to your true nature and find enjoyment in the simplest (and free) things in life. Take up reading more or get out into the sunshine at the park for a nice stroll. Stop watching the television set and gather some friends for a game night instead of hitting a club or the bar. Talk to your family every once in a while! Get back to natural human contact and connection that’s most meaningful. If you can build a lifestyle based around not consuming things, you’ll have uncovered a big secret to saving that will make your bank account happier.
Money is a tool, so you have to learn to use it better!