The idea of spending money to save money may seem like an oxymoron. However, if you know how to do it then you will never scrimp on any purchase ever again – for the most part. The idea that you have to spend money to make money may seem like something that only stockbrokers are capable of doing, but introducing this tactic to your everyday spending habits could pay off big time.
While you shouldn’t run out right now and splurge on everything you’ve ever wanted, you can start looking towards some of your current spending habits and alter them to achieve more stable financial freedom. And that’s something everybody wants, isn’t it?
A GOOD CREDIT CARD
Having a credit card seems like you get free money. We all know it isn’t, but that doesn’t stop that voice in the back of our minds telling us we can afford this one purchase here and there.
Of course, it isn’t free money, and depending on how much you use it, it can end up costing you more than it is worth through charges and interest. Use resources such as those found on https://best.creditcard/ to discover the best credit card options for your needs and start looking towards a better financial future alongside being charged money for what you bought months ago.
While you might look at a specific product, be it new shoes or electronics, and balk at the astronomical pricing, understand that it costs this much for a reason. The adage of you get what you pay for has never been so true.
Ensuring that you buy quality will help you save money in the long-term as you won’t need to buy and rebuy every six months or so when your purchase does inevitably fail. Often, people will purchase the cheapest options for any product just because they don’t feel like they can justify splashing out on quality. But if you consider how much you will pay upfront for quality, and then compare how much you pay buying inferior products, spending big once off will start to make much more sense.
We have all had that problem at the supermarket where the receipt starts creeping closer and closer to an amount you definitely did not, and perhaps can’t afford, to pay. Too many people will buy enough food to get them through the week and that is it. However, as much as they may not want to spend too much at the supermarket, these are the same people who will happily eat out a couple of times a week.
Here’s a hint: stop doing that. Buying in bulk and preparing meals for the week will save your exhaustion after a long day at work and you might just be surprised how far your weekly shop will go as long as you approach it sensibly.
SPEND AND SAVE
While this advice may not be true for everything, and you can surely find generic products that do just as good of a job as name brand, focussing on purchases that you use a lot will allow you slowly but surely save money over the years.
You may have times where you struggle during a month after these substantial purchases. However, this will pale in comparison to the money you will spend in the long-term. Start saving your money now, by spending it on items that will last a lifetime.