When you ask for people’s advice on how to save more money, you’ll be treated to the same tips and tricks over and over again. Cut out your daily Starbucks latte, stop ordering avocado toast at brunch, and don’t — whatever you do — try Millionaire’s bacon. Instead, make more money.
If you don’t drink caffeine, make a habit of eating brunch, or have a new career on the horizon, this clichéd advice is worthless.
Sometimes, if you expect to rake in savings, you have to get a little creative. Let these three unusual ways of cutting down on your spending inspire you to invent new ways to tackle your budget and unearth some loonies.
Limit your streaming
Last year, 247,000 Canadians cut the chord on their cable packages. Many of them replaced their old-fashioned cable with subscriptions to streaming services like Netflix. There’s just one problem: Netflix isn’t the only option for streaming any more. Between Amazon Prime Video, Showtime, Hulu, and hundreds more, there are as many streaming services as there are channels in a basic cable package.
If you make the mistake of signing up for several services, you may be end up spending the same amount of money as you would on your cable. Check your bills and compare the costs. If you’re dropping a ton of cash on your streams, really think about which ones you absolutely need. Many of them have overlapping content, so use something like this site to help you make the choice and cut most of your subscriptions out of your life.
Take your time finding a loan
Until you start saving money in earnest, you won’t always have a safety net of savings that will withstand your financial emergencies. When faced with an urgent vet bill, unavoidable household repairs, or an unexpected bill, you’ll need to take out a payday loan to cover these responsibilities.
When under a time crunch, you’ll want to find a cash loan as fast as possible. This urgency causes you to overlook certain details of a lender or their product if they solve your cashflow problems. These details can make it hard to repay the payday loan online on time, so you’re stuck paying more in interest and late penalties.
Though you may feel anxious taking it slow, don’t let your nerves force you into an unmanageable situation. When you take the time to read up on rates, terms, and conditions, you can find the cheapest way to borrow money.
Do your housework
As the temperatures drop, you want nothing more to park yourself on the couch and roll yourself into a blanket burrito while binging Netflix. You shouldn’t feel guilty about taking a day or two to unwind, but don’t let this become a habit. If you end up spending all your spare time relaxing and procrastinating on important housework, you could be wasting money.
Every house needs maintenance. If you don’t clean it or carry out important repairs, small issues or damages can multiply until they become expensive emergencies. Stay on top of your chores, looking up guides to make sure you’re maintaining your home properly. Don’t forget to include your appliances and car into this routine, so you can save even more money.
Though saving is hard, it doesn’t have to be impossible. Look beyond the ordinary and apply creative thinking to your budget. There’s no doubt it will be challenge at the start, but eventually you’ll be able to spot inventive ways to save money.