Saving money doesn’t come naturally to a lot of people.
But living is becoming more expensive day by day and it is important to have savings set aside for emergencies.
If you don’t budget carefully, it can get really hard when you suddenly face huge bills or an unforeseen event.
Let us take a look at some genius money-saving tips you’ve never heard before.
NOTE: The event below, Arts Alive 25, was held on September 8, 2023.
Bargain For Lesser Prices
While bargaining is known among people, it isn’t popularly viewed as a way to save money.
In business, negotiating can help you cut back on a number of expenses. The smartest business leaders and teams know how to negotiate strategically without compromising the quality of the deal or losing their contacts.
You can also try bargaining for your everyday purchases. Many vendors quote their prices significantly higher than the original. You can get an item at a lower price if you have good bargaining skills.
Money Saving Apps & Websites
People who make most purchases online will benefit from money-saving apps.
Several apps also allow you to save money creatively either by analyzing your spending history or allotting a certain amount for a personal fund. Others allow you to save money with the help of coupons which you can use later for other purchases.
You can also find blogs that review money-making apps, websites and games to help you make wise decisions. Lushdollar.com is one such website that helps make and save money.
Eat At Less Expensive Places
Many people don’t realize how much eating out can drain your bank account.
The cheapest option is to always eat at home, but there are cases where you have to eat out, for example, during a holiday.
Instead of eating at malls or fancy dining places where food is crazy expensive, stick to local spots. You will get a good serving at these spots for a reasonable price.
Always research well-known budget-friendly spots when you’re out on vacation.
Avoid Buying Stuff At The Mall
Mall shopping sounds like a fun experience. It gets not so fun when you see your bank balance at the end of the day!
Everything sold at malls and branded stores is significantly more expensive than locally sourced and produced. Before you purchase anything, check whether you can get the same thing at a local shop.
Chances are you will find the same one for almost half or three fourth of the price quoted at the mall.
Stop Falling For Luxury Branding
Many people buy certain luxury products just because the brand name attached to them is famous and known to be expensive. For example, many people buy Gucci or Balenciaga because of the brand image, not because they love their products.
Stop falling for the hype of such products and stick to affordable brands yet sell good products.
Have Someone Hold You Accountable
If you have a friend who is great at saving money, use them well!
Keep aside the amount you want to save for the month and give it to your friend for safekeeping.
Tell them not to give it to you for unnecessary spending.
Plan Hangouts Which Require Less Money
Planning hangouts can get expensive if you don’t be careful with budgeting.
Rather than spending time at an expensive cafe or indulging in other activities which require money – try finding activities that don’t need much money.
A short hiking trip, a trip to the beach and movie nights at home are some cheap hangout ideas.
Anyone determined to save money can devise creative ways to spend less without being a miser.
Once you learn to check on unnecessary expenses, saving money will become second nature to you!
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