In the quest to save money, we often make questionable decisions that fail to deliver the desired results.
More specifically, we focus on reducing spending on ad-hoc, big ticket items, in the mistaken belief that this will lead to long-term savings. What this actually does it make unsustainable short-term savings, without doing anything to change your everyday spending habits or cultivate a more frugal lifestyle for the future. This can also impact negatively on your quality of life, as it prevents you from taking much needed holidays or investing a car.
How to Save Money on Everyday Purchases
Instead the trick is to save on everyday items of expenditure, as this enables you to save money regularly without impact too heavily on your quality of living. Consider the following steps towards achieving this: –
Reduce your Carbon Emissions
Reducing your carbon emissions as an individual or a household is largely considered to be a sustainable living measure, but it usually translates into financial savings. One of the best examples is to choose alternative methods of transportation as opposed travelling in a car or on a motorcycle. Although this depends on the distance that you are required to travel on a daily basis and the geographical area that you live in, the use of public transport or a bicycle can dramatically reduce fuel costs and contribute to a healthier environment. This is certainly something that public bodies around the world are keen to drive, with the UK government set to spend more than a £1 billion on developing cycle lanes in London during the next 10 years.
Use Coupons and Browser Extensions to Reduce the Cost of Living
Another expense to target is food and drink, which equates to a weekly sum that eats significantly into your financial budget. While coupons provide an obvious way to access in-store discounts and drive down the cost of groceries, however, you can now access advanced web browser applications that are also designed to help you save money. Priceblink provides a prominent example, as it lets you review automatic and real-time price comparisons before making a purchase. On a similar note, the Honey browser extension negates the need to trawl the Internet for promotional codes, as once it is downloaded it will highlight any discounts that you may be eligible for at the point of sale.
Embrace the Thrift Market
On a final note, one of the best ways to save money regularly is to embrace the thrift market. This sub-economy thrived in the wake of the great recession, as consumers began to spend more responsibly and invest in second-hand items at bargain basement prices. As the market has evolved so too has the quality of goods and regulatory measures, with functional clothing and household supplies all available for bargain basement prices. Essentially, this market allows careful shoppers to purchase all of the items that they need without compromise while also saving huge amounts of money. Keep in mind that despite the rise to prominence of online bargain websites, the thrift market is still best represented by physical stores and flea market locations.