Have you found yourself in a financial hole? Or, have you been caught up in emergencies and don’t have a single penny in your bank account? The financial dilemma is something that a lot of people go through. Getting out of the rat race is the goal of each household.
Achieving your financial goal may be challenging but ahcievable. And it all starts from learning how to manage your finances. At the top of the priority is listing all your expenses in a month to find ways to save money where you can.
Here is the third part of our series on How to Save Money.
Look for Affordable Accommodations When Traveling
Accommodations take a big expense when traveling. Especially if you are with family or friends. Hotel accommodations may be available but come with a hefty price near the city proper or airport. One alternative to hotels is a house swap. With house swap, you only have to pay $150 for the membership fee which is a fraction of the cost of hotel accommodations. But, if you find house swapping uncomfortable, consider renting an Airbnb room or apartment in the area you are traveling to. A cheap but homey alternative to the pricey hotel.
Do It Yourself
Being self-sufficient is becoming a norm from gardening to house maintenance. Hiring professionals to do the work for you can guarantee quality in the service, and maybe not always. But, it can cost a pretty penny in the long run if you add up all the expenses. Rather than sending your laundry to a laundromat service or paying for a gardener for mowing your lawn, do it yourself. Not only are you saving money, but you are also building confidence in yourself.
Keep Car Expenses to a Minimum
If you have a car, gas and insurance expenses take a bulk of the maintenance cost. To save on gas, scout for the cheapest rate in your vicinity as the cost varies on a daily basis. Recent studies reflect that purchasing gas on a weekend is more expensive than a mid-week. Fill your gas tank on those days instead. Also, opt for gasoline stations that offer discounts or rewards for regular customers. And, if you are purchasing a new car, look for the most cost-efficient vehicle to save money in the long run. Besides the actual cost of the car, check for cheaper car insurance policies and fuel-efficient cars.
Cancel Subscriptions
Subscriptions are like hidden charges that can eat up your finances without your knowledge. Some subscriptions you might have overlooked for years you should check are cable or magazine subscriptions. Dive into your bank account to identify which subscriptions must stay or go. Otherwise, find deals with better options.
Maximize Reward Programs
Various companies offer loyalty programs that you can avail of. Even your local groceries offer 20% discounts for your purchase. Grab these opportunities as 20% of $800 a month of grocery is still $160 worth of savings that can go to your emergency fund or other necessary expenses.
Saving money doesn’t have to be complicated. Often, it takes diving into what you currently have and weeding out what isn’t necessary to your life. Learning to grab opportunities that offer low-cost options is a wise way of stacking up some extra bucks. Simple living is the best way to build a life you will enjoy in the long run with a peaceful mind.
This series is brought to you by Fort McMurray Furnace and Duct Cleaning. Giving Fort McMurray customers maximum value for money is what we are all about.