There is a reason why rich people stay rich and that is what we are going to tackle for today. Many Americans has their own different ways on how to save money in order to have savings. Savings is very easy to spell but is very difficult to do. People are often distracted when there is Sale all over the stores and thrift shops. But what do you think higher income Americans do just to save money? Let us now start off with our lists.
Buying Second Hand Cars – Owning a car is a symbol of how you live your life. If it is the latest model then that means you are rich. If it is old cars then most of the people will consider you a middle class family. Higher income Americans prefer buying second hand cars rather than brand new cars. Second Hand cars are not heavy in the pocket because you can pay them with cash unlike brand new cars you have to go through a financing agency which will cost you a lot than the price alone of the car. Model of the car does not matter at all as long as it is in good condition and you have something to use for transportation.
Garage Sale – Be open to garage sale. It doesn’t mean that they are sold at a below market price, it means they are destroyed. Items sold in the garage sale are all in great condition and it so happen that the seller already purchased a new one and to get a profit, they sell their old items. There a lot of cheap finds in the garage sale. From clothes, furniture, shoes, tech products and so much more item that you can imagine. Of course there are selected products that you should buy in garage sale. But for me, there is always an exception when it comes to mattresses, I don’t buy secondhand of them especially if I don’t know the person who sells it.
Vacation Trips – Instead of going on an expensive vacation trips with your family, why not appreciate the own beauty of your city? Enjoy the wonderful parks, museums, amusement parks and beach with your family. You don’t need to invest on an expensive trip just to enjoy the beach on the other side of the world. Going on a trip means a lot of spending from rooms that you are going to sleep and most especially on the food. When on a vacation, people usually eat on a fancy restaurants and food stalls. Even though food stalls are not that expensive but the unique flavor of it will make you want to eat some more.
Plan your extra money – If you have some extra money in your pocket or from your paycheck, always plan on what you are planning to do with it. Make a list before your paycheck and in that way, you will keep track on where to spend your money. If possible, never go on a dinner outside your home if you can cook, then cook your own food or for the whole family. Invest on something that will help you in the future and I am talking about investing for your retirement. Always make a goal to where your money is going.
Cooking your own food – How much do you usually spend on food every month? Do you know that food is the number 1 destroyer of our income? When we stroll and walk on the street and we smell something that is so good coming from the food stalls in the streets and we can’t help but grab a bite from them.
Move in with your family – There is no shame when you move in with your family. It is either for free or they will charge you but for a family friendly price of course. If they will not make you pay the rent then you are very lucky. Just make sure you save all your money and get your place anytime soon.
Carpool Sharing – If you own a car and then you don’t want to spend money on gas then this is your option. Hire a carpool to bring you to work and bring you back to your home. Or ask your workmate to fetch you from home and work. I am sure that he or she will not let you pay that big. (Or give him some sweets!)
Goodbye Landline Phones – All people today are cellphone dependent. Calling and texting at the same time are the main features of cellphones and in that way, landlines are useless. With today’s technology, cell phones can now be used in emails and even Microsoft office can be used too. If you don’t want to cut your landline, switch to a low cost plan.
Unplug Devices – Plugged devices are like vampires. Even if we don’t use them, they still suck electricity. If you are not using a specific device, try to unplug it every after use or you can switch to power strips. In that way, you can easily unplug 1 plug for all devices.
Cool Rooftops – If you live in a hot place, try installing cool roofs. Cool roofs are known to absorb the heat from the sun and reflect sunlight so it will not absorb heat in that way you can save by not turning on your air conditioner and electric fans.
Coupons – Don’t be shy and ask for coupon in the grocery stores. Or you can always print out coupons that can be found online. In that way, it will cut your payment in the counter especially when you love to buy bulk foods.
Jogging – You don’t have to pay a gold membership from the gym. In your spare time, try to jog around the streets of where you live. In that way, you will save a lot of money from gold gym membership thing and you can still meet people wherever you go.
Clothe Swap – How often do you shop for new clothes? Have you tried to swap it to your friend? Invite your friend or relatives for a clothes swap. In that way, you can save money and at the same time, you can choose clothes from your friends or relatives that you like the most and what I love about this idea is that if you want your clothes back, you can just get it back whenever you want because you know that person.
Library Card – There is a reason why we all have a City Library. If you are a bookworm then you will probably enjoy owning a library card. Other cities offer a free library card while others will make you pay a small amount or donation but you can use it for a lifetime. All the latest magazines and books can be found there and so much more interesting topics to choose from.
Do not let your money dictate what you are going to spend and never ever spend on something that you can’t afford to avoid having debts that will grow if you will not pay for it. Spend and save can be possible if you will learn how to practice it. Only you can decide on what to do with your money. Did we miss something? Please let us know with your comment below!
