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7 Ways To Cut Spending But Still Get The Good Stuff

7 Ways To Cut Spending But Still Get The Good Stuff

It’s no secret, money is hard to come by. Saving money has become the mantra for many households across the United States, with more and more families choosing to forgo quality for cost savings. However, this doesn’t necessarily always have to be the case. You can cut back your spending and still buy and do the cool stuff, you just have to find creative ways to stretch your dollars further. Here are 7 tips to help you get started down the path of cutting spending, saving money and still buying the things you want.

1. Practice self-control.

This is probably the most important piece of advice anyone could ever get. Have you ever wondered why there are shelves of stuff to buy located at the end of shopping aisles and at the cash registers? They are designed to entice you to make impulse buys, purchases you make just because something caught your eye. Impulse buys are true budget busters, and can derail even the most detailed spending plans in a matter of seconds. To avoid making impulse buys:

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  • Create a shopping list of the things you need before you leave home and stick to it no matter what.
  • Set aside a spending limit, no more than $10, specifically for impulse buys. This can give you a little leeway, but keeps your spending under control. If you find that you are tempted to spend more than your limit, choose to walk away and “think about it”. If you still want it, then you can go back and purchase it later.
  • Refrain from carrying large amounts of cash. Not only is carrying cash dangerous from a theft or lost wallet perspective, many people tend to spend more indiscriminately if they use cash rather than debit cards or checks.

2. Do your research before you spend.

While this generally applies to larger purchases, you should practice researching your purchases for all things. This means comparison shopping groceries, shoes, and even gas. This will help you get the most bang for your buck. When researching potential purchases, read reviews on well-respected websites and talk to people you know who have made similar purchases. Make sure that you check both retail and online stores for the best prices. Many stores will price match, even if the item was found online, so if you don’t want to wait or pay for shipping, take the advertised price into your local retail outlet and ask for a price match. This practice even works when certain groceries are on sale at one store and not your normal grocery outlet. Lastly, don’t forget to take advantage of coupons and mail-in rebates.

3. Keep a spending journal.

As you go throughout your day, jot down the things you spend money on. This includes all cash, debit and credit purchases. This will help you understand your spending habits and lets you know where your money goes. Add these purchases into your monthly budget so that you can see how this spending impacts your cash flow and reserves.

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4. Buy used and borrow if you can.

Borrow things from the library, from friends, and even from work. Buy used when you can’t borrow and leave purchasing new as a last resort. By buying used, you stand to save a substantial amount over buying new and you can usually upgrade to a better quality item. This is a great way to buy designer clothing and consumer electronics.

5. Take good care of what you buy.

Replacing items you have previously purchased is just a waste of money. Take care of the items that you buy and save your cash for something new.

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6. Disconnect extraneous services. 

Do you still have a landline phone? Do you also have a cell phone and a work phone? If so, odds are you are paying out too much money a month on services you don’t really need. Choose one line of communication and disconnect the other. Are you paying for premium cable in order to get one specific channel? If so, you can probably scale back your monthly cable bill and get the same programming for less using an online streaming service such as Hulu Plus or Amazon Prime.

7. Utilize your employer’s flexible spending accounts. 

Odds are, if you are employed by a large organization, you have benefits that you know nothing about. Flexible spending accounts give you an opportunity to allocate money, most of the time on a pre-tax basis, to pay for things such as medical expenses, child care expenses, transportation costs and more. Look into whether your employer offers such benefits and begin to spend on a pre-tax basis. This puts more spendable cash in your pocket every month thanks to a lower tax burden on your paycheck.

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Last Updated on August 15, 2018

30 Fun Things You Can Do This Summer Without Spending Much

30 Fun Things You Can Do This Summer Without Spending Much

Summertime can be a real strain on your wallet. The sun is out, there are people to see, places to be; it’s no wonder you might be short of funds during these sunny months. Not everything has to cost you an arm and a leg.

Take some time to go through this list of 20 cheap summer activities and make some realistic goals to complete as many as you can.

Video Summary

1. Visit a strawberry festival

Summer is prime time for tasting strawberries. More often than not, an area that grows strawberries will have a strawberry festival. Indulge yourself in strawberry pies, jams, cakes and more!

2. Have a picnic

Take your partner or your family to the local park and enjoy a relaxing picnic. Designate each person to bring one food item of their choice to add to the fun.

3. Camp in your back yard

    The summer heat can sometimes make it hard to sleep. Why not enjoy the heat outside in the yard? Pitch a tent or gaze into the night sky.

    4. Take long walks

    Discover something new where you live. Take the afternoon off from your chores and go for a long walk. You may be surprised by what you discover.

    5. Break a world record

    Breaking a world record doesn’t have to be time-consuming. You could even break one on your lunch hour. Give it a go!

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    6. Go on a bike ride

    The number of bike paths on roads in big cities has increased dramatically over the years. Take advantage, and enjoy the summer breeze.

    7. Join a gym class

      The gym is not everyone’s idea of a good time, but why not go with a friend a join a class? Spinning, yoga and step classes are always more fun with friends, and a lot of gyms allow you to pay-as-you-go.

      8. Find a new hobby

      The summer is the perfect time to find a new hobby. Serotonin (our body’s natural “happy” hormone) is produced by the sunshine and will be at a yearly high, which is great for when we want to tackle something new.

      9. Join a sports team

      Not all sports teams are competitive and require huge amounts of your time. Join in the fun with like-minded people, get fit, stay healthy and make some friends along the way.

      10. Make a slip ‘n slide

        Gather your friends, some plastic sheeting, a hose, washing up liquid if desired, and make a huge slip ‘n slide just like these guys. Granted, yours won’t be as big, but you get the idea… it’s fun!

        11. Make a treasure hunt for your kids

        Today’s digital world sees our children more often than not playing inside than outside. Why not create a sense of adventure by making a treasure hunt? Only rule? It has to be outside.

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        12. Visit a free festival

        Towns and cities are awash with free festivals, with themes from film to science. Scout your local area and discover something new.

        13. Visit the zoo

          Let’s face it: we love animals. While browsing news websites and social media networks you’re bound to come across a few pictures of cats. Take a trip to your local zoo for a better experience.

          14. Take a road trip

          Enjoy the open road with a few friends and take a road trip somewhere–anywhere. Just go out and enjoy the sunshine!

          15. Play ultimate frisbee in the park

            Frisbee is always great fun down the park, but why not turn it into more of a competitive sport by playing ultimate frisbee?

            16. Make your own ice cream

            Ice cream is a very versatile dessert. Make a sandwich, enjoy a cone, or simply just enjoy a bowl full. Better yet, making your own ice cream allows you to create any flavor you want.

            17. Invite your neighbors over for a BBQ

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              When was the last time you invited your neighbors over? Do you even know them? Now’s your chance. Just ask each person to bring a food item so costs don’t mount up for you.

              18. Get a summer job

              For many students, summer is the time for relaxation and fun. But who said earning money and being productive isn’t fun? You only get out what you put into a situation.

              19. Attend a charity event

              Attending a charity event is a great way to raise funds and awareness for a cause, meet new people, and generally have a good time. Search for your local charity event today.

              20. Visit a national park

              National parks are a great way to explore nature and learn something new. You could even volunteer and make a difference in helping restore natural habitats.

              21. Visit your local comedy club

                Local comedy clubs are extremely underrated. They are cheap to attend and no doubt you’ll have a barrel of laughs.

                22. Make your own hammock

                  Hammocks are very relaxing, are perfect for summer afternoons and are surprisingly easy to make.

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                  23. Read in your new hammock

                  Now you have your very own hammock, the only thing left to do is enjoy it. Grab your favorite book and read to your heart’s content.

                  24. Watch a movie outside

                  Movies are great. Relaxing outside in the evening is great. Put them together and you’ve got a perfect combination. In D.C, Maryland and Virginia this summer, for example, you can enjoy a huge number of movies outside.

                  25. Take a hike

                    Hikes are a great way to keep fit and see more of Mother Nature. There are countless trails available for you to explore. Why not try some this summer?

                    26. Learn how to fly a kite

                    As a child, you probably had a kite and haven’t touched it since. Why not dust it off and attempt to fly it? It’s tricky, but well worth the challenge.

                    27. Work out at the park

                    American cities are full of parks with ample space for a work out session. No doubt you’ll be happier to work out in the sun rather than a crowded gym.

                    28. Take your dog to the beach

                      One of the many joys of owning a dog is taking him or her for long walks during the summertime. This joy is enhanced when visiting the beach, for both you and your dog.

                      29. Make a summer smoothie

                      Healthy, delicious and perfect for the summer. Not only that, there are countless recipes ready for you to try.

                      30. Attend a free yoga session at the beach

                      No experience needed and all skill levels are welcome. Take yourself and a buddy down to the beach and try some yoga. You’ve got nothing to lose!

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