Tag Archive for Save Money

4 Things You Can Rent to Save Money

4 Things You Can Rent to Save Money

4 Things You Can Rent to Save MoneyThe art of advertising has been around for a long time to get you to want to buy goods so you can show off your wealth (or sometimes the lack thereof). Through the Internet and the want to not own or need everything, goods and services can be rented.

When one thinks of renting they usually think about apartments and it isn?t always favorable. Did you know that you could actually save money while renting things? Here are?a few things you can rent to save money.

1. Formal Wear

If you have multiple?weddings to go to this summer?and don?t want to purchase a different dress for each one, try renting them instead.?Online rental websites, such as Rent the Runway, provide a selection of trendy or designer fashions. The prices are decent too, much cheaper than buying several dresses to wear for only one night.

Instead of dropping several hundred dollars?on a gown you may not wear again, you could find a similar look for less?and send it back the next day. Not to mention the cost of cleaning and storing your only-worn-once dress. There are many rental websites available to fit your?budget.

2. Party Supplies

If you are throwing your parents a 50th?wedding anniversary celebration, chances are that occasion won’t come around again. 😉 So, you?ll want to bring out the best. Instead of purchasing tables and chairs, linens and d?cor, you can go to a party rental place and rent everything you need.

Most times you don?t even have to wash the linens, the company will do that for you. You just return them, no mess and no fuss for you.

3. Vacation Rental Cars

Car rentals can get pricey depending on what type of car you get, how long you need it, and how much gas you will be using. But, if you are going on a long road trip, it can be cheaper in the long run to rent a vehicle than to drive your own. This comes out in the cost of mileage put on your car.

Also, if you are going out on an expedition and need a larger or more powerful, vehicle renting one is definitely cheaper than buying one you won’t need the rest of the time.

4.?Uber and Public Transit

If you live in a large city where public and private modes of transportation are readily available it probably isn?t worth the money to own a car at all. Online car pickups such as Uber and Lyft can bring you transport at the touch of your finger. The small charge to go downtown is cheaper than if you had to make a car payment, pay insurance, maintenance, gas and parking fees. Plus, you’ll save time not having to find parking.

There are many more things such as camping equipment, canoes, yard equipment and more that if you don?t have a continuous need for them, it?s cheaper to rent it for the day than to buy one. Be sure to note the condition you rented it in and how you returned it, because if you break it? well you know.

What things have you rented that saved you money? How much did you save?

 

Photo courtesy of: HauteSwan

4 Digital Savings Tools to Save Money When Shopping Online

4 Digital Savings Tools to Save Money When Shopping Online

4 Digital Savings Tools to Save Money When Shopping OnlineOnline shopping is growing more and more popular with each passing year. Where once people were slightly uncomfortable with the idea of making purchases online without visiting a physical store, today that kind of shopping is the norm.

Shopping online makes it easy to compare prices before purchasing to make sure you get a great deal. However, by using specific digital tools, you can make the prospect of saving money easier than ever before. Below is a list of four tools that you should consider putting to use as you browse the web for your next buy.

Amazon Prime Membership

Amazon is the undisputed king of online retail, so it only makes sense that a Prime membership is at the top of our list. Sometimes you have to spend a little money in order to save money, and that is exactly the case here.

An Amazon Prime membership usually will set you back $99 on an annual basis, but most people will make that money back (and then some) over the course of 12 months. Most of the products you buy on Amazon ? and they carry nearly everything you could imagine ? will be eligible for free two-day shipping when you are a Prime member. There are also other advantages, such as streaming music and video services, making this membership an easy choice.

RetailMeNot

This is a coupon site that has the potential to help you find great savings on your next purchase. Before you complete the checkout process for the item you are going to buy, check out RetailMeNot (and any other coupon sites you may wish to check) to see if any applicable coupons are available. This is a free service to use, and it only takes seconds to check for a coupon.

Ebates

If you shop around the web in a variety of locations, you may wish to join the Ebates program to get cash back for some of your purchases. Ebates is relatively easy to use, it works with a long list of ecommerce sites, and the cash back rewards are generous in many cases. This is essentially free money on things you were going to purchase anyway, so it is another easy choice.

GasBuddy

Okay ? so this isn?t technically a trick to save when shopping online, but it can save you money nonetheless. If you download the GasBuddy app to your phone, you can use it to track down the best deal on gas in your local area. You don?t really have much of a choice when it comes to needing to purchase gas for your vehicle, but you do have a choice on where you go for that gas. Rather than driving around hoping to find a low price, simply open the GasBuddy app and find out in just moments where you will get the best price on your fill-up.

 

Do you use any of these tools when shopping online? What other ways do you save money?

 

Photo courtesy of: WDnetStudio

6 Savvy Ways to Save This Spring

6 Savvy Ways to Save This Spring

6 Savvy Ways to Save This SpringFor many people, it is relatively easy to stay on budget during the winter months. You might not be particularly active during the winter ? depending on where you live ? meaning you probably won?t be spending as much money.

However, the story changes during the spring, as the weather starts to improve and you begin to think about doing things outdoors once again. So how do you save money while enjoying everything that spring has to offer? Check out the following six savvy ways to save this spring.

Spend Money for Next Winter

Okay ? so this isn?t a tip that will technically save you money in the short term, but it can pay off nicely in the long run. When spring arrives, many brands and retailers will discount their winter gear in order to move it out. If you are willing to buy things you need, like winter coats and other garments, for instance, you could get great deals on your purchases. When next winter comes around, you will already be prepared and you won?t have to pay full price.

Make Money on Spring Cleaning

Many people like to go through a spring cleaning process, which is a great idea for clearing out your house after a long winter. Fortunately, this is a process that can make you some money, as you may want to sell some of your old things online. Using sites like eBay is an easy way to sell your unwanted items without much trouble.

Use Natural Heating

If the weather in your area is warm during the day in the spring, consider opening up your windows during the daylight hours to warm the inside of your house. This technique may help you avoid running the furnace at night, which will save you on heating costs. As spring turns into summer, you can alter this plan to having some windows open at night for natural air conditioning.

Take an Affordable Trip

Spring break is a great time to go on vacation ? but such a vacation can be a big drain on your budget. So, instead of breaking the bank by taking a long trip to a tropical destination, stay closer to home and save this spring?in the process. With a bit of creativity and flexibility, it is a good bet that you can have fun without flying thousands of miles away.

Free Entertainment

The improving weather that you find in the spring means you can head outdoors for free entertainment instead of having to stay inside while doing something like going to a movie theater. Local parks are great options for this kind of free activity time, as are hiking trails, bike paths, and more.

Stay Focused on Your Budget

Sometimes, all it takes to save money is simply remaining focused on your budget goals. It is easy to be distracted by the optimism and excitement of spring, but remember how important it is to remain committed to your budget over the long run.

 

Do you have trouble with overspending during spring? How do you plan to save this spring?

 

Photo courtesy of: andibreit

6 Financial Habits that Build Wealth

6 Financial Habits that Build Wealth

6 Financial Habits that Build WealthEveryone wants more money. Everyone wants to be able to retire comfortably. Everyone wants everything. And they want it now!

But when reality set s in, we all know that we can?t, and probably shouldn?t, get everything we want.

As the Rolling Stones once sang, ?you can?t always get what you want, but if you try sometimes well you might find, you get what you need.?

This rings true especially when it comes to building wealth. Unless you inherit enormous sums of money, building wealth takes time. Wealth comes from simple, yet smart, financial habits.

Here are six financial habits you should enact if you want to build wealth.

Save, Save, Save, and Save Some More

If you look at any wealthy guru, you’ll see that they have money saved. The smart ones don?t necessarily live extravagantly. Instead, they live frugally and well below their means. They know you can?t make money without saving money. Savings can (and should be) diversified between 401(k)s, IRAs, general savings, etc. There are no get rich quick schemes that build wealth.

Automate Savings

Playing off of my?previous point, if you aren?t currently saving money, you need to start. The best way to get in the habit is to make it automatic.

Set up your bank account to transfer funds to savings, investment portfolios and retirement accounts as soon as your paycheck comes in. Out of sight out of mind. This way you don?t overspend and not save anything. You can do this relatively easily with an online bank, such as Discover Bank?- you can earn interest?on your spare cash or even open a retirement account through them.

Remember: Needs Not Wants

Live within your means and be frugal. If you want it and it?s not necessarily a need, then don?t get it. If you really want it, then save up to purchase it.

You may think you ?need? a brand new mixer, but if your current one still works, then you don?t really ?need? a new one. You just want one.

Not buying things because you don’t need them takes some getting use to, but if you don?t need it, don?t buy it. This adds to your savings and will lead to wealth and greater financial freedom. Plus this habit will get easier after you tell yourself “no” to your wants the first few times.

Track Your Spending

If you don?t know what you are spending you won?t know how much you can save or how to allocate your funds. You may only think you spend $100 a month eating out, but you might actually be spending $300 a month. By tracking your spending,?you can see where you can make some cuts and start saving more.

Change Your Mindset

This is the hardest habit to establish. But it might be the most important.

Most of us naturally want everything, and have a spend first, save last mentality. To build wealth you need adopt a save first, spend last mentality.

With your take-home pay, pay yourself first. Put money toward your financial goals first, bills second, and then take whatever is left to spend.

Changing this mindset will change how you look at every purchase, savings goal, and investment. This is usually for better, especially if you are paying off debt, saving for a house, or increasing your retirement portfolio.

Pay Off and Avoid Future Debt

This is critical to financial freedom and to how much you can save. Home loans and student loans are not usually considered bad debt, but they are still a hindrance to your saving goals. With a majority of Americans having high credit card debt, this is what you should work to reduce first. The rule of thumb is to pay off those loans with the highest interest rates first and work your way down in order to save the most money. Then avoid future debt so you can put your money toward building wealth.

Habits take a while to change and you have to be diligent about it. Once you get into a habit it’s easier to save and harder to spend money. Remember that Rome wasn?t built in a day and neither will your wealth be. It will take time, but if done smartly you may be able to grow it faster than you had originally planned.

 

Are you using these financial habits to build wealth? What other habits are essential to build wealth?

 

Photo courtesy of: Michael Thomson

3 Easy Ways to Start Building an Emergency Fund

emergency fund

start building an emergency fundOne piece of the financial puzzle that many people fail to consider is a simple emergency fund.

This fund is nothing more than money in a savings account which is meant to be available in case of unexpected expenses. You can?t always plan for all of your costs in life, so having some money set aside in an account that is meant for a ?rainy day? is a great idea. The amount of money that you are going to keep in your emergency fund is up to you, but the first step is to build it up as quickly as possible.

If you need to start building an?emergency fund, here are three easy ways to get started.

Build It in to the Budget

Most people have a monthly budget that they use to keep track of their spending, but that budget often doesn?t include money that has been set aside for saving in an emergency fund. By adding a line to your budget that includes some amount of money to be put into the emergency fund, you can be sure that the fund will grow month after month. Even if it is something as small as $50 or $100, be consistent with your deposits into this fund and watch it grow as time goes by.

It’s best to automate this saving so it does the work for you, not to mention picking a bank that pays?something?in interest. Discover Bank, for example, allows you to automate saving and pays a decent interest rate.

Take Money from Somewhere Else

There is a good chance that there is at least one part of your budget that could be trimmed back in favor of adding to the emergency fund. For example, do you have any monthly expenses that you could simply get rid of without a problem? Many people carry a membership or two to things that they don?t actually use enough to justify the cost. Take a careful look over your monthly spending and pick out an item or two that can be eliminated in order to free up more money for adding to the fund.

Make Extra Money

This might seem like an obvious point, but it is something to consider on a short term basis. If you would like to build up an emergency fund but you just can?t seem to make it happen on your current income, consider a part time job or side hustle as a way of making extra money. You can plan on dedicating all of the money from this job to your fund, and you can quit the job once you have reached your savings goal.

The best thing you can do in order to grow your emergency fund is simply to make it a priority. You are inevitably going to have to make some sacrifices if you want to build up this fund in the near future, so commit yourself to the process and keep an eye on the big picture. It might mean that you don?t go out to the movies or to dinner quite as often in the months ahead, but that is a small sacrifice for the big gain that is seen when you have money set aside for unexpected costs.

 

Do you have an established emergency fund? What tips can you offer to help people start building an emergency fund?

 

Photo courtesy of: TBIT