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10 Saving Tricks You Haven’t Tried Yet

10 Saving Tricks You Haven’t Tried Yet

It seems like we can never have enough of cash. Most of us are in the perpetual state of needing more than we earn. Most often, it appears we are actually earning less than what we need. But the reality is quite different. It’s not that we don’t earn enough, it’s actually we don’t save enough. We’re eager to spend as soon as we get our paycheck and thus, how much we earn, we readily spend all of them. The end result is,  we find it difficult to afford things we need the most and often, we might end up turning to loans to save ourselves.

But all of this continual despair and hardship can be avoided. It just takes a bit of self-discipline and wisdom. With proper planning and wise spending, we won’t have much difficulty in making ends meet. Below are the 10 unique and rather unusual saving tricks, often looked over by most of us, which can helps us save a few dollars each month.

1. Partner with someone frugal.

The truth is that not all of us are very wise in terms of making financial decisions. But we could make up for our shortcomings by seeking out a significant other who’s frugal and has a financial head on their shoulders. This is one of the great saving tricks. They help us make better decisions while spending money and keep the balance between earnings and expenditures. One could even focus solely on earning and leave all the works of financial management on the partner’s shoulders.

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2. Unplug.

The plan to execute this trick is quite simple. Unplug just about everything when you are not using it. This includes lights, laptops, coolers, fans, heaters and other such electronic items. This way we can save a significant amount of energy. And, saving valuable energy doesn’t mean we are only contributing to mother earth but also to ourselves. As energy bills make up a significant chunk of our expenditure, with this way, we can spare ourselves a dime or two.

3. Buy fewer clothes.

This one might seem rather silly of the saving tricks. But clothes do make up a significant portion of our expenditures. Moreover, in the case of most adults, they do not actually need to buy more clothes as they already have a fair possession of attires. People often wear only a fewer set of clothes among the ones they possess and rest remain hanging in the closet more often than not. So one could do with buying fewer clothes. For this, going a year without buying clothes could be a good idea.

4. Become good friends with your neighbors.

Well, it’s always good to be friends with more people and more so with one’s neighbors. This way, one doesn’t always need to buy new goods even if they’re required just for a while or even just for once. One can not only turn to their neighbors for help when something is needed at the crucial moment but also look up to them for those things one needs once in a blue moon. This way, a significant amount of unnecessary expenditures can be avoided.

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5. Save your time.

They say time is money and rightfully so. One could save a little bit of time across their activities and add up those moments to do more, leading to some more cash. By saving time, we can use it to do other jobs to make more cash. Time can be saved by avoiding unnecessary chores, which is of course for a person to decide himself/herself, by spending less time on social media, increasing speed at reading and many other ways. By doing works quicker and avoiding waste of time, life can be made significantly more productive. So, search for the moments you can steal every time you’re at work.

6. Graduate sooner.

Normally, bachelor courses are four years long. But one could take more courses in a year so that the program can be completed even within three years. This way, the tuition fees for the courses can’t be reduced as they need to be paid anyway. However, extra annual fees for accommodation, food, libraries and other annual college fees can be avoided. Moreover, you could even avoid potential tuition hikes by paying the fees early. It’s quite challenging but you could save thousands of dollars with this trick.

7. Go shopping at late hours and at sales.

Go shopping at closing hours, just when the owner is about to call it a day. You can bargain and get a few more things at the same price. Furthermore, with late night shopping, you can avoid bustling crowds and won’t need to go through lines at the checkout. And, along the way, you can have your pick of the bargains and markdowns that would otherwise be put out for the next day. This way, you can spare a considerable portion of your monthly budget.

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8. Go vegetarian.

Generally, vegetarian food items are less expensive than even the cheapest varieties of meat. Moreover, vegetarian diets have proven to help reduce the risks of various health hazards, thus avoiding the potentially high medical expenses. So consider going vegetarian and see how much you can save by doing without flesh. Going vegetarian has several benefits, one being that it saves you a considerable share of your budget.

9. Go to bed earlier.

You may be wondering how something like this made the cut. But this one has huge potential, although it is more likely to have never struck more of us than not. The idea is that, going to bed early means we don’t have to use electricity at late hours of the day. We can work with daylight, if we can make up for going to bed early by waking up early in the morning as well. This way, extra expenses which would have to be used for paying electricity bills can be avoided.

10. Buy cheaper versions of goods.

Everyone knows that buying items at a cheaper price will surely help reduce expenses. There’s nothing to fancy about with this idea. But what I’m trying to suggest is that a lot of times, we could do all fine by turning to lesser known brands, which are also the cheaper ones. Let us take the example of Finecoffeeclub. They basically provide coffee capsules to fit Nespresso machines, but at about two-third of the cost of the Nespresso brand. So if you are looking to regularly save money and you are a coffee drinker, this is a great way to go. This is just an example. Most often, prices are inflated just because of the brand name, with not much difference in terms of quality. So this could help you solve a lot of your financial woes.

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Featured photo credit: Tips on saving money via stockrockandroll.com

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Nabin Paudyal

Co-Founder, Siplikan Media Group

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Published on November 8, 2018

How to Answer the Tough Question: What are Your Salary Requirements?

How to Answer the Tough Question: What are Your Salary Requirements?

After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

Unfortunately, this is the wrong approach.

Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

Of course, you can’t command a high price without bringing value.

The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

1. Hack time to accomplish more than most

Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

2. Set your own boundaries

Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

Here are some important traits to consider:

  • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
  • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
  • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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3. Continuously invest in yourself

Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

4. Document the value you bring

Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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Here are some ideas:

  • joesmith.com
  • joeasmith.com
  • joesmithprojects.com

Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

5. Hide your salary requirements

Avoid giving you salary requirements early in the interview process.

But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

6. Do just enough research

Research average salary compensation in your industry, then wing it.

Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

7. Get compensated by your value

Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

The bottom line

You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

Featured photo credit: LinkedIn Sales Navigator via unsplash.com

Reference

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