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20 Excellent Ways to Spend Less Money During the Winter

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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!

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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 July 20, 2021

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

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Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

Break Free of Your Finances

Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

Though it seems hard to believe, it is really very simple to get financial freedom.

To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

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Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

1. Stop Unnecessary Spending

We often spend money inwardly, instead of objectively.

For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

To stop this habitual spending, log down all your spending over the course of a month.

Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

2. Plan a Monthly Budget

This is a great opportunity to get serious.

Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

3. Cut-up Credit Cards

Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

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If not, you may want to consider ridding your life of the burden that credit cards bring.

Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

4. Increase Savings

There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

It’s good practice to save up to 15% of your income.

Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

5. Invest Wisely

Consider investing in funds.

Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

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Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

6. Invest in Gold

There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

Another way to invest in gold is through ETFs (Exchange Traded Funds).

These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

7. Stash Emergency Funds

Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

Make it hard to get your cash.

Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

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8. Find Fabulous Mentors

Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

9. Be Extra Patient

Patience is the key of financial success.

Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

Financial Freedom for All

Anyone can achieve financial freedom, regardless of their financial circumstance.

Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

Featured photo credit: rawpixel via unsplash.com

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Reference

[1] Hartford Gold Group: IRA Retirement Accounts

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