Wednesday, January 20, 2021

4 Activities You Can Quit To Save Money

The need to avoid debt has increased drastically, especially after the experiences of 2020. In America, for example, millions of people are living on a “knife-edge” due to the impact of COVID-19. When you’re trying to save money, even the smallest expenses count, especially those recurring expenses and subscriptions. If you’re used to certain purchases, you may have mistaken them for necessities by now. So, if you’re trying to cut down on expenses, what are some of the things you can give up, whether permanently or temporarily? Here are few suggestions.

Daily gym subscriptions

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If you’re a gym or fitness fanatic, this point may have raised an eyebrow. Exercise is an essential part of any healthy life. But if your budget is hurting, there are alternative exercises you can do at home. Also, try incorporating a lot of outdoor activities into your fitness or workout regimes. For example, if you love using the treadmill, take a break from it and jog outside instead. 

However, safety is essential as far as outdoor workouts are concerned. For example, a simple morning jog or cycling can put you at the mercy of a reckless driver. Be careful of the route you choose. And should you be a victim of such an accident, you can count on legal experts like the law office of Chad Stavley to get the right settlement. 

Bottled water

Unless you have a problem with clean water flowing through your taps, bottle water may be an unnecessary expense. Spending $1/ day per person on bottled water may not sound like much. But daily expenses add up quickly: $365 for one person and $1,460 for a family of four.

Eating out at restaurants and cafes

There’s nothing wrong with eating out sometimes, but if that’s an everyday habit, then it’s worth quitting. Eating out too often takes a toll on both your physical health and your wallet. Try to reduce how frequently you eat out and start preparing your own meals at home. Not only will you save money, but it also puts you in control over what goes into your food. The same logic applies to buying drinks from chain coffee shops every day. A cheaper alternative will be to invest in your own coffee maker and brew yours at home.

Impulse purchases

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One of the main culprits responsible for draining our wallets is impulse buying. Whether you’re browsing through stuff online or doing window shopping, there is always a thing or two we don’t plan for that catches the attention. Even if it is just a ‘harmless’ hair clip, a nice purse, or a quick takeaway meal, impulse buying is a major cash killer. Budgeting can help reduce impulse buying, as we tend to manage the things we track.

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