In order to become a more financially sound person, it takes practice and learning the basics of money management.
For some people who have the tendency to overspend and indulge, this can be a hard change to integrate into their everyday lives.
What proves a beneficial tactic for individuals like this is to work towards balancing frugality and smart spending with indulgence.
If this sounds like your typical burden with money management, then learn more about these 6 ways to save if you are a big spender.
1. Buy refurbished technology
The key to being a big spender and still saving money is to find savings anywhere you can. This can be done by purchasing refurbished gadgets. By purchasing things that have been used before, you can take advantage of the marked down price while also still indulging in the products that you love. You can have all the fun you want and still pop tags on your favorite types of technology.
2. Be more patient with your purchasing
Yes, this means putting a stop to impulse spending. Often times, if you take a beat and breathe before making a purchase, you may find that it is really not the best decision. By taking a second to consider your purchase more carefully, you give yourself that space and opportunity to more fully examine your reasons for gravitating towards the purchase.
3. Wait for sales and promotions
This is another tactic that involves slowing down and considering your purchases with more thought. You can save big time by just being more patient and waiting for your favorite items to go on sale, or purchasing during a promotional period. Utilizing the strategy of sales and promotion can be very forgiving to your wallet. This can be one of the most effective and simple ways to save money. With energy saving appliances, you can save money without even lifting a finger.
4. Take advantage of energy saving appliances
Another great tool for saving money is to invest in appliances that will save energy. Many appliances in your house can be replaced, such as light bulbs, dishwashers, and refrigerators. You can also look for the most energy efficient energy provider in your area. This can save you on both your gas and electric bill.
5. Purge all the extra subscriptions
So as we continue to find more monthly services that we like, it is easy to rack up on subscriptions. The strangest thing about adding more and more monthly subscriptions is that it will eventually end up being as expensive as a car note. Between video streaming services, food delivery, bank fees and more, you can really end up spending alot in a month and not even realize it.
6. Cut out the brand name
Getting caught up in brand names is a nice way to keep up with the Jones’s, but it is not the best way to save money. You can save money on things like smartphones, clothes, cleaning supplies, household products and even more. You would be surprised with how much money you can save by simply choosing store name brands or “off” brands. Many times, the products are essentially the same quality.
