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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 June 1, 2020

10 Reasons Why Following Your Passion Is More Important Than Money

10 Reasons Why Following Your Passion Is More Important Than Money

Elite Daily have got some great points as to why you should chase down your dream job, regardless of how much the wage is. If you’re feeling unfulfilled in your career, maybe it’s because you’re on a path that doesn’t connect with your passion? Maybe it’s time to steer right off that road and take a different route:

Money is a very powerful thing, it builds empires and breaks down kingdoms, it allows for dreams to come true and it takes others away, it makes some people happy and others completely miserable. Today the pursuit of money is almost directly linked to the pursuit of happiness, many will argue that money = happiness.

However, this is inherently problematic as this mindset leads many people to stray down a path that doesn’t best suit them. When people choose their careers, they are sometimes blinded by money and so choose to follow the paper trail. Although money is great and can buy us all the things that will temporarily make us happy, no amount of money can buy time. Time is our most valuable asset and it is something, that while on this earth, we should spend most wisely. You shouldn’t feel like you’re mindlessly wasting your life away

This generation is particularly in trouble because jobs are scarce and many of us will be stuck doing jobs we hate just because we need money. Although this may be the right move for our careers now, this shouldn’t be something we do for the rest of our lives. it is best we search for something we are passionate about. Here are the 10 reasons why you should follow your passion and not the money.

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1. Working for money may seem like good enough motivation for one to keep at their career.

Every morning Monday through Friday you go to work 9 to 5 sitting their punching away the hours stressing about the work at hand. This is not a way to enjoy your life. Working for 8 hours a day 5 times a week at something that makes you miserable is not the way you live life to the fullest.

Many people who choose careers that don’t make them happy will tell you that they would all do it differently if they had the chance. You only have one life, so don’t waste it working somewhere you hate just because of the money.

2. You’re more passionate about the work you are doing.

There is nothing worse than having to wake up every morning during the week to mindlessly go do work you don’t even care about. However, this is never really an issue when you are passionate about the work you do. If you are not forced to work somewhere because of monetary constraint, you truly enjoy what you do and you never really work a day in your life.

3. You can relate more to the work and come up with better ideas.

Being forced to do work is one of the most draining experiences. While there are times at every job where you may feel the work may be draining and dull, you have to realize that not every day is going to be an enjoyable one. There are highs and lows, but when you are passionate about the work you you look past the dull days. Your creative process is also different. You are more inclined to come up with creative ideas when you like what you do.

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4. Work doesn’t feel like it’s forced upon you.

When you value money over your overall health and your passion, you will find yourself in an endless cycle of misery. Work no longer becomes a career or a journey, but more of a  taxing nuisance on your mind and body that has to get done.

Every day that you go to work with this mindset you begin to hate your job more and more. While many people feel that they must work hard to retire and have money to enjoy themselves, what’s the point of enjoying yourself in your later years when you spent your life being miserable?

5. No matter how much money you make, nothing will help you overcome the feeling of doing something you hate.

Many accountants come into corporate America, put in reckless hours during the week and make a great paycheck on pay day. Many of them have all this money piled up, but they never really get to enjoy the fruits of their labor because their labor takes up most of their lives.

Many of them hate their jobs because they aren’t really passionate about what they do. Is there a worse feeling than doing something you hate? Eventually this hatred will cause stress and in the long run, it will have lasting effects on your health.

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6. You are more inclined to work later hours.

When you work somewhere that you are passionate about, putting in later hours isn’t as much of a burden as it is when you don’t like what you are doing. To you, putting in the extra hours doesn’t hurt as much because you don’t feel like you are forced to do it, which makes the experience that much more enjoyable.

Every industry has a busy season and without a doubt there will come a time when you will need to put in the extra hours. Will it be easier for you to work longer on something you can relate to or something you can’t stand doing?

7.You are willing to go above and beyond the call of duty.

Certain obligations at your work will require you to go above and beyond the call of duty. In certain times during the busy seasons, you may be asked to do certain tasks that are not part of your everyday schedule. It is much easier for you to put in the extra work if it’s something you actually care about. Because you are passionate about your job, you will be willing to put in the extra effort to go beyond what is required of you.

8. No obstacle will stop you from achieving success.

When you really enjoy what you do, nothing will stop you from getting your work done. Because you are passionate about what you do, you feel unstoppable and nothing can obstruct you from achieving greatness. Your passion ignites your work, and like a rocket, it accelerates you past road blocks that may come about. Any obstacle that comes your way is accepted and fought off with a creative solution.

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9. Our working careers will consume most of our lives, so we might as well do something we enjoy.

You will spend a majority of your life working and there is no other way around this fact unless you are born into a wealthy family or marry rich. For the rest of us who weren’t fortunate enough, we will be spending a good portion of our lives working in order to make ends meet.

There is no way around this, so we might as well accept the cards we are dealt. Many people go about this the wrong way because they feel like work is something they have to do rather then something they can enjoy. Once you realize that your career should be something you enjoy, then you will lead a more happy and fulfilling life.

10. You will get more fulfillment when you finally make it.

There are few feelings better than achieving a level of success you set out for yourself. Nothing like crossing off your bucket list of goals you set out for yourself to achieve. When you finally reach the pinnacle, it is that much more enjoyable knowing you got there doing something you love. Remember work doesn’t have to be something that you hate doing, stay true to yourself and always do what makes you happy.

The 10 Reasons You Should Follow Your Passion And Not The Money | Elite Daily

Featured photo credit: Randalyn Hill via unsplash.com

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