Emma: Hey!
Ever reach into the pocket of some clothes you haven't worn in a long time and found
a bunch of old gum wrappers, or a movie stub to Alvin and the Chipmunks 2: The Squeakquel?
Or, a twenty dollar bill?
Awesome, right?
Today we'll talk about some more surprising way to eke out a little more cash, in your
adulthood.
Number 1: Drink more water.
Drink water, save moolah.
If you always order water when you go out to eat, instead of ordering pricey restaurant
beverages, you could save a little bit of change in the long run.
Michael: Let's say you go out to eat once a month, or, once a week.
Emma: Yes.
Michael: And you spend three dollars on soda.
That's twelve dollars a month.
That's 144 dollars a year.
So over the course of a decade you're spending over 1500 dollars on soda at restaurants.
Emma: Whaaat?
(little chuckling) that was some fast math, Mike.
Michael: Thanks.
Emma: Number 2: Bulk it up!
While you're at the grocery store, stock up on anything you need that doesn't expire.
Bonus points if it's on sale!
While you'll be spending more money up front, your cost per unit goes down substantially.
Especially if you're buying when items are on sale, or during a couponing event.
Number 3: Stores and rewards cards.
If you're going to use a debit card for the majority of your purchases, you could instead
use a rewards credit card that gives you 1 to 5 percent back in cash or points.
Be careful not to over spend just for the points, but putting some routine purchases
on these types of cards can really rack up savings.
Number 4: Or, pay with paper.
That's right, pay with physical, cold, hard cash.
I wanna be like mmm.
(She laughs).
As we've discussed, handing over a hundred bucks in real money can be more physiologically
painful than paying with checks or cards.
So paying with cash can help keep your spending in line.
Number 5: The one crazy mortgage secret your bank doesn't want you to know that you will
not believe!
Follow us for a sec.
Most mortgages are paid every month, most workers are paid every other week.
If instead of paying your mortgage once a month, you make a half-payment on the same
schedule you're paid, you will end up making 26 half-payments per year, or 13 full payments
annually... which result in one whole extra payment per year!
This is great, because you'll never feel the difference in your budget and it could result
in taking four to five full years off the end of your mortgage.
Saving you up to thousands of dollars in interest.
Number 6: Get a room.... mate.
Whether you're in your twenties or your fifties, renting out a room is a great way to earn
extra income or to save on your monthly expenses.
Rent or mortgage payments can be much more affordable when you aren't paying them alone.
Number 7: Love your local library!
We here at 'How to Adult' love us some librarians!
I worked- fun fact- I worked at a library in high school and in college.
Libraries are great resources for books, but don't forget: many public libraries also offer
movie rentals, video game rentals, audiobooks, access to computers, and the internet.
Thanks, libraries.
Number 8: Have a 'No Spend' day.
Set up a challenge for yourself.
How many days, or weekends, in a row can you go without spending money?
Of course, don't put off necessary purchases or load up on purchases the day before.
The point of 'No Spend' days or 'No Spend' weekends are to cut out unnecessary spending
that doesn't really improve your life much.
Number 9: The Latte factor.
We've all heard this one before, but it bears repeating.
Versus coffee shops, brewing your own coffee at home can save you up to a thousand dollars
a year.
You can treat yourself occasionally, but if you brew at home most days, it can save you
quite a bit.
Number 10 (and finally): Just ask.
Call you cable company and ask if there's anyway to lower your monthly bill.
Shop around for your car insurance every few years to see if anyone can beat the price
you're paying now.
These kinds of things won't work every time, but in most cases, the company will want to
acquire or retain you as a customer.
So they may give you a little deal.
That's all we've got for you here today.
If you have any money-saving tips, we would love to hear from you in the comments section
below.
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