Money saving tips are like drinking enough water in a day: we should all know more, yet we continue to ignore following suggestions. That said, and it might sound crazy, but we’re encouraging you to go out and invest some of your hard earned cash on a few items that are financially smart and help stick with your monthly budget. You know, ones that you use on the daily and will actually save you money in the long run.
Throwing down a few dollars for a coffee every morning isn’t something that generally fazes people. But, when it comes to shelling out hundreds, or even thousands of dollars for an item, it’s easy to start making excuses as to why you don’t really need it, or start looking for the cheapest possible option.
Unfortunately, the problem with being extremely frugal with your cash is that you can find yourself spending even more money due to the negative ramifications of your cheaper spending choices. So take note of these big ticket items to avoid skimping on when the time comes to invest.
When I was living in NYC, I thought walking 40 plus blocks home everyday in Converse was a great idea. I didn’t want to spend money on proper walking shoes, and convinced myself that a $15 pair of insoles was just as good.
WRONG. I ended up with an inflamed nerve in my foot, which has prevented me from wearing a lot of shoe styles, and cost me hundreds in podiatrist bills.
There was a definite lesson learned, though. Had I spent at least $150 on a pair of good shoes, I would’ve saved myself from a lot of pain and unnecessary doctor visits.
So, whether you are in the service industry, working outdoors, in an office or have employment that requires you to be out and about schmoozing clients, make sure your feet are taken care of — they’re the ones who take you everywhere!
The average American millennial spends 7-9 hours a night in bed. That’s a minimum of 2,555 hours a year laying down. So, for all that time on your back, don’t you think your body deserves a good place to lay? Yes! Sure, everyone wants a nice bed, but most cut corners on this life staple, because the price tag makes them flinch.
However, a bad bed always leads to bad sleep, which leads to low productivity at work or when trying to fill in hobbies like working out, which affects your wallet in a myriad of ways.
Extra cash spent on coffee to stay awake, more meals out because cooking, “sounds like so much,” losing out on promotions because only minimum requirements are being met on the job. Bad sleep can create a big mess in your life, including health problems which can arise from not getting enough Zzzs.
The good news is that you can avoid all of that by just spending a little more for a quality, comfortable place to rest your head.
It’s hard to imagine that the average American commuter spends nine full days behind the wheel stuck in traffic. But, according to the United States Census Bureau, that’s exactly what’s happening every year. So when it comes to choosing the right vehicle to get you from point A to point B, you should look at a few key things.
Will you be comfortable sitting in the car for multiple hours at a time? If the car is uncomfortable from the get go, it’s not going to feel any better down the line because it was the cheapest one on the lot.
Next, what gas mileage does the car get? A full tank probably won’t stretch too far if you opt for a flashy sports car, but an understated fuel efficient car will save you hundreds at the pump.
Finally, can this car be repaired easily? No matter what car you buy, you’ll have to pay for repairs at some point, and having a car that requires a special order part is not a good look for your wallet.
We can’t stop you from buying or leasing your dream car when you’re still financially premature, but those dream cars are so much more rewarding when you’ve reached that senior level status at work when your monthly payments don’t make you sweat.
Lead image via Getty
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