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20 Excellent Ways to Spend Less Money During the Winter

20 Excellent Ways to Spend Less Money During the Winter

Winter can be harsh. It’s cold, gloomy, stressful, and costly. But there are some things you can do to save yourself from some costly spending. Here’s a few tips to help you save your sanity by saving you some money.

1. Turn off the heat

We all like to blast the heat to stay warm in the winter. But when I’m not home or at night when I’m sleeping, I turn the heat off. Yup, all the way off. Why have it wasting your money while you’re not even there to enjoy it? Yes it does make it a little chilly when I come home, however I turn the heat on right away and within minutes the house is warm, and I wasted no money on heat that I wasn’t even using anyway.

2. Turn down the heat

If you don’t want to be an extremist like me, then Global News suggests that even turning your heat down a few degrees at night and while you’re not at home will still save you on your heating bill.

3. Turn off the lights

Lights, TV, cable boxes, anything that you leave on while you’re out or sleeping, will absolutely add to your electric bill! Many people forget the little things like your garland on your mantel and will leave it running. Make sure when you leave the house you turn it all off. Not only are you saving energy but you are also saving yourself some money!

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4. Make gifts

Winter is high time for many holidays. And with the holidays it’s easy to get caught up on spending money without a thought. It’s fun to give gifts! But while it’s true it is fun to give gifts, you can do it without emptying your bank account. By making gifts instead of buying them, you will only be spending money on supplies and can reduce your gift giving budget significantly.

5. Play holiday games

If buying is still fun to you, then maybe play some holiday games to eliminate having to give tons of gifts. Secret Santa is a widely played game with family and friends where you purchase a gift for just one person instead of many. But there are tons of games for every holiday that can be played to reduce the amount of gifts you purchase. Look for some ideas online or on Pinterest.

6. Choose an intimate New Year’s party

People spend a lot of money dining out or buying tickets to special events for New Year’s Eve. While that can certainly be a lot of fun, if you’re looking to keep your winter budget down, then it’s probably not the best idea. Instead, plan an intimate party with family and friends. Everyone can bring a dish and/or their own booze, and you supply the place to party. You will this save tons of New Year’s money, and you’ll still be ringing in the New Year with fun!

7. Budget meals

Ah grocery shopping, the waster of money. Have you ever been the person that goes in to the store for five things and leaves with 10? I have! Especially in the winter, when there are so many goodies to buy and comfort food is at the forefront of your mind. But stay strong! Make a budget for how much you feel you should spend per week and write a list of what you’ll need. But stick to it! This will stop you from impulse buying the fresh baked cookies.

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8. Freezer meals

When you cook, do yourself a favor. Make some extras of things – sauces are especially great for this. When you make a bit extra, you can freeze the food and thaw it for use later. This is a great idea for when you’re realizing that you may be just a bit short on cash, you’ll have some backup dinners ready to heat and eat.

9. Stay inside to save the gas

Gas is expensive, we all know this. And your car eats gas even faster in the winter because of the heat you turn on inside of your car. But, if you limit your trips by allowing yourself one trip to the grocery store a week, going to work and come right back without stops in between, then you can limit the time your in the car and limit the amount of gas it’s gobbling.

10. Shovel instead of snowblowing or plowing

Another gas monster is snowblowing or snowplowing. When it’s a heavy, thick snowfall it’s not a bad idea to bring these machines to life. But, when it’s not too bad out, go shovel instead. Not only will you save yourself on gas money, but you’ll also be getting a great workout and burning off some of those holiday calories.

11. Find secondhand decorations

With holidays we tend to spend money on decorations. There’s nothing wrong with wanting your house to look pretty, but you don’t need to spend a ton of money doing so! Every year at the end of winter people have gone through their decorations and are ready to rid themselves of what they have. Take advantage of that! They always say one man’s junk is another man’ treasure. Find some treasures in decorations and you’ll save yourself a ton in decor for the next year.

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12. Clip coupons

We’ve all heard of Couponing to Disney but we can also coupon simply to keep our costs low. If budgeting your grocery shopping just isn’t working, try clipping coupons out of the weekly ads. It’s even easier now because a lot of places will allow you to print coupons from online. Coupons are helpful not just for food but also for crafts stores if you choose to make gifts, decorations, etc.

13. Try not to use credit cards

I have always been taught that if you can’t afford it, then don’t buy it. DON’T USE CREDIT CARDS! But did I listen to my mom? No, of course not. But I do now. She was right, you save yourself a ton of money by not using cards to purchase items. With the holidays it’s easy to get the idea that credit cards are the way to go, but stop, put down the plastic and walk away quickly. Because not only will you be paying interest on these items all the way until the card is paid off, but if you miss a payment, forget it! Late fees alone will cause you to spend more than you can imagine.

14. Have movie nights at home

Movies are fun to go-to in the winter. It’s warm inside, there’s popcorn being popped, and adventures on the screen. But you can have the same type of cozy winter fun for a fraction of the cost. Have a movie night at home instead of going out. You can still have popcorn (it costs a lot less at the store) and even better – you can pour yourself a glass of wine! Something you obviously can’t do with most movie theaters. With so many movie watching choices like Amazon and Netflix, you can catch the latest movies while staying warm and cozy. Plus, you’re saving the gas money too – double win!

15. Save your change

Spending money is inevitable in the winter months. No matter what you try to cut out, with holidays, food, and gas, you will spend money. But a great way to save a little bit is getting a change jar. Take your change after you go buy some presents, or buy the holiday dinner and put it in a jar. Every time you stop to buy a hot chocolate to warm up- put your change in the jar. You’ll be surprised at how much you save up.

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16. Use alternatives to heat

It is winter so if you’re turning down the heat, or turning off the heat, make sure you have an alternative to keep you warm. Extra blankets, heating pads and warm pajamas will all be able to keep you warm and you won’t even realize that you have the heat off! I used to warm up a rice bag every night and put it in my bed a few minutes before I got in it. By the time I would climb in, it was nice and cozy and I didn’t miss the heat at all.

17. Buy in bulk

Using bulk stores is a great way to save some money. Bulk stores offer great varieties of food at very reasonable prices. Get a membership, if needed, and try out your grocery shopping there. You’ll be amazed at the savings! Just make sure you have enough room for all of your items! You’ll also be saving on trips to the store (see #7 and #9) so there’s bonus savings there!

19. Choose inexpensive New Years Resolutions

New Year’s resolutions can be quite costly. Especially if you are planning on joining a gym. Luckily, there are alternatives to expensive New Year’s resolutions. If you want to lose weight, maybe try some home workouts. If you want to read a book a month, go to the library instead of buying new books. Or choose resolutions that are already inexpensive, like saying one thing you’re thankful for everyday, or volunteering in your community.

20. Seal your windows and close your curtains

In an article by Mirror, a super simple winter trick is mentioned – closing your curtains! It’s well known that heat can easily escape and cold air can come in through windows. So what to do? Close your curtains, it will keep the cold on the outside and the warm on the inside, the curtains acting like a barrier. But if you find this isn’t working enough, I’ve gone so far as to use plastic to cover the windows. It’s a sealer that will also act like a barrier, so just go to your local hardware store – they’ll know where they keep it!

Using these tips can really be a winter money saver. You can do some or all, and either way, if you do any at all, you’re sure to see a difference in your winter costs!

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Last Updated on April 28, 2020

9 Millionaire Success Habits That Will Inspire Your Life

9 Millionaire Success Habits That Will Inspire Your Life

As technology evolves and information becomes more accessible, it has also become more challenging to define success. A lot of people are trapped in the rat race while trying to discover the actual formula for success.

You could become overwhelmed with what tools, techniques or philosophies to imbibe while trying to get tips over the internet. At every click and turn, there are ‘how-tos and quick-fix’ on how to become successful overnight. You will find several courses, articles, videos and books on how to achieve financial success.

But what if I tell you it doesn’t have to be complicated as people made it out to be? What if you could achieve success by merely following these 9 millionaire success habits?

1. Read for Personal Development

A daily habit I have discovered millionaires share in common is reading. For instance, if you are an entrepreneur, you need to read to become an efficient leader and a productive business owner. Reading helps you to grow and learn without going to a business school.

A research conducted by Thomas Crowley indicates about 85% of self-made millionaires read at least two or more books each month. [1] Warren Buffett is one of these examples. He spends 80% of his day reading. In the early days of his investment career, he would read 600 to 1000 pages in a single day.

While millionaires sometimes read for pleasure, they also learn to improve themselves. They read topics on leadership, how-tos, self-help, biographies, lifehacks and also follow current events.

Here’re some recommendations for you: 25 Best Self Improvement Books to Read No Matter How Old You Are

2. Establish Multiple Sources of Income

Another success habit I noticed about successful people is that they don’t depend on a single income source. Every millionaire possesses multiple sources of income. This helps them to manage economic challenges and also make more money.

They are passive income addicts. They earn interests from loans, rental income from real estate, royalties from intellectual properties, dividends from investments. They also launch a side business or run a website or sell information products.

How income is made either passively or actively is what separates the successful from the wannabes. They are always learning ways to build multiple streams of income.

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3. Live on a Stipulated Monthly Budget

An average millionaire does not believe in luck and jackpot. They take the time to understand cash flow-income and expenses. Based on this, they establish a monthly budget and religiously stick to it.

The essence of the budget is to minimize unnecessary expenses. This will help you gain complete control of your financial life. Budgeting helps you to avoid overspending to achieve your financial goals. Here’re some tips to help you stuck to your budget: 32 Hacks for Sticking to Your Budget

4. Manage and Maximize Money

The most significant education for a millionaire is financial intelligence. Nobody attains financial freedom without gaining financial intelligence. This is the more reason millionaire, regardless of their income, keep their knowledge about tax strategies updated.

They always seek to reduce their tax bills. One approach they employ is by living or incorporating their business in states with no income tax.

Do you know that about 60 companies paid $0 legally in the 2018 tax year? Some of these companies that ‘avoided'(note: not evaded) federal income tax include Chevron, Amazon, Halliburton, General Motors, Delta. Their US income was totaled at $79 billion with an effective tax rate of -5%.

What’s the deal? They got a tax refund.

How do they accomplish these?

An ITEP report indicated that they have the culture of throwing huge sums at tax experts who assist them in discovering creative, as well as convoluted means of paying little tax as much as possible.[2]

5. Avoid Debt

Another habit that separates the millionaires from the rest of the world is how they manage debt.

They don’t live an extravagant lifestyle; instead, they only buy what they need and can pay for. They do not book hotels and flights by using their credit cards to pay for them.

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They are conscious of the interest rates even when they use credits cards or take loans. If possible, they try to pay with cash because of its zero percent interest rate.

6. Set Daily Goals

It does not matter if they are setting up a business, a career, or financial projections; they have the success habit of setting short term goals. They plan daily and weekly goals to generate momentum in achieving their long-term goals.

Ensure you prioritize when setting daily goals. This will help you to achieve the most important to-dos on your list.

Setting priorities will help you to focus on highly rewarding activities. If you desire financial freedom, it is wise to pursue activities that earn you thousands of dollars rather than hundreds of dollars.

7. Don’t Act Rich

The goal is not to act rich but to be productive. Interestingly, Thomas Stanley buttressed in his book that for the most prestige brands of cars, about 86% percent are toys of the non-millionaires. While most believe that people with huge fortunes tend to drive exotic cars, in reality the largest consumers of pricey cars are aspiring millionaires.[3]

According to findings by Experian Automotive Researchers, 61% of individuals who earn $250,000 or more rarely buy luxury brands. Instead, they buy Hondas, Toyotas, and Fords like the rest of the world. The reason is they are not ready to spend money on premium cars that tend to drop in value in a couple of years as it would cost money. Millionaires invest in assets that appreciate.[4]

8. Own or Buy Businesses

In Robert Kiyosaki’s cashflow quadrant, he divided how you earn income into four quadrants. The E and the S quadrants take the left position while the B and the I are on the right side. According to Robert, it is possible to be on all quadrants, but the millionaires are not.[5]

  • E stands for employee – they work for others
  • S stands for self-employed – they work for themselves
  • B stands for a Business owner- employees work for them (500 or more employees)
  • I stand for Investors – Money work for them like Warren Buffet.

Your goal is to move from the left quadrant to the right quadrants where you own big businesses or make money work for you.

It is possible to become financially successful by pursuing what you love. For instance, if you love writing, aspire to be the best seller. Wealth and passion work together.

Check out How to Start a Small Business with Little to No Money for tips.

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9. Avoid Get-Rich-Quick Scheme

A millionaire holds patience as an essential virtue. It takes patience to become successful, not only in finance but in every aspect of life. While it is possible to become financially successful at an early age, most millionaires hit it at age 50. They live a moderate life, invest in their future and retire rich.

Bonus: How to Develop the Millionaire Success Habits?

Having learned these habits, the next question is,

How can I develop the Millionaire Success habits?

Here are six values you will need to develop:

Establish Your Life Vision

You need to be clear about what you want in life to set yourself for a life of success. Your vision has to go beyond becoming a millionaire to understanding why you want to become one. Any great entrepreneur you will ever find has a clear vision and an established mission.

Understanding why you are doing what you do will drive you to become the kind of successful person you want to be.

Make Your Passion a Profession

When your passion becomes your profession, work becomes pleasurable. Loving what you do enables money to flow to you and through you.

So what’s going to be? Wake up every morning by speaking positive words into your work, love what you do, and focus on the work that brings you joy.

Take a look at this article and learn how to make it happen: 5 Steps To Turn Your Passion Into A Career

Focus on Solution

Focusing on the solution means establishing the problem that you or your business address. This will help you focus on the solutions when others are faced with challenges.

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A millionaire has a mindset that is fixed on the solution. He or she knows there’s a way out, and that every problem is an opportunity in disguise.

Improve your problem solving skills with these tips: 6 Effective Ways to Enhance Your Problem Solving Skills

Develop Your Leadership Skills

Leadership skills are an asset that is indispensable if you want to develop a millionaire success habit. The more you hone your leadership skills, the more you will attract leaders who share your values.

Be Growth-Focused

Millionaire entrepreneurs prioritize self-improvement. Here’s how to achieve it:

  • Get a coach. Coaching will impact your life, and you will achieve peak performance in life and business when you have a life coach.
  • Be coachable. It is not enough to have a coach; you must be coachable. Sometimes, you need feedback and counsel to reposition your life and business. A coach has the wisdom and experience to counsel you from a higher perspective. The more you receive feedback and work on yourself, the more you become better at what you do and who you are.

Flip Your Thought Pattern From Acting To Being

It is not enough to have a millionaire success habit, you must also become a person of positive influence. This is how you can become significant. Bill Gates is not only rich; he is changing lives in Africa and different parts of the world.

If you want to become successful, you must first be and think like a successful person. This is how resources you need can flow into your life.

Here’s a final thought from me:

It is not enough to do something to have something; success is about being someone who possesses what is needed to take positive and inspired actions.

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Featured photo credit: Austin Distel via unsplash.com

Reference

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