{"id":465,"date":"2020-04-13T00:17:43","date_gmt":"2020-04-13T00:17:43","guid":{"rendered":"http:\/\/solofunds.shayhammond.com\/?p=465"},"modified":"2024-05-20T15:31:51","modified_gmt":"2024-05-20T19:31:51","slug":"5-simple-habits-that-will-save-you-money","status":"publish","type":"post","link":"https:\/\/solofunds.com\/blog\/5-simple-habits-that-will-save-you-money\/","title":{"rendered":"5 Simple Habits That Will Save You Money"},"content":{"rendered":"
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Guest Author: Morgen Henderson<\/em><\/p>\n

Even with the already devastating disruption to our lives, the financial effect of COVID-19<\/a> on individuals and families is yet to be felt. In the coming weeks and months, many households will need to tighten their budgets to make ends meet. To that end, we\u2019ve gathered some simple tips that will save you money. So, put lockdown time to good use. Start adopting these five habits to better financial security.<\/p>\n<\/div>\n<\/div>\n

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1. LIVE GREEN TO SEE GREEN<\/h5>\n

Environmentally conscious folks win twice: they help save the planet and their hard-earned money. That\u2019s because many everyday energy-saving tips<\/a> \u2014 like turning down your water heater thermostat or managing your electronics \u2014 also lower your monthly utility bills. But remember, energy-saving habits don’t result in dramatic changes. Unless you install solar panels and completely get off-grid, you probably won\u2019t notice much of a change in the first few months. Instead, financial benefits are incremental, adding up over the year for some serious savings.<\/p>\n

2. RENT MORE, BUY LESS<\/h5>\n

For many items, renting makes more sense than buying. Certainly, renting an apartment has its upsides. But don\u2019t put your house on the market just yet. Instead, survey smaller purchases for their rentability factor. Those snow skis you bought for your winter getaway probably cost you more than if you\u2019d rented from a local shop. And what about those tools you bought for that one project but never use anymore. Then there\u2019s the treadmill that\u2019s currently serving as a clothes rack in your bedroom. Get the idea?<\/p>\n

All these items can be rented for a fraction of the cost and headache. And with today\u2019s sharing economy in full swing, you can use online rental sharing sites<\/a> to rent almost anything.<\/p>\n

3. USE HOURS WORKED TO ESTIMATE VALUE<\/h5>\n

When estimating the value of a good or service, most consumers calculate the return of their investment. Will the emotional or financial benefits be worth the investment in money<\/em>? This is a good start, but simply looking at a price tag doesn\u2019t tell you whether you\u2019re buying something you need<\/em> or something you want<\/em>.<\/p>\n

One financial hack is to gauge an item\u2019s \u201cvalue\u201d by the number of hours you\u2019d need to work to buy it. If a new iPhone costs $800, and you make $10 dollars per hour, would you really work two weeks to get one? Maybe not. One thing humans are good at is estimating physical and mental effort. Use that natural inclination to keep yourself from buying things you don\u2019t need or can\u2019t afford.<\/p>\n

4. MAKE A MOBILE GROCERY LIST<\/h5>\n

Use lists to manage your grocery shopping and save money. To keep track of your items, use a to-do app<\/a> like Evernote or OneNote. Mobile apps like these are a convenient and fast way to build, access, and manage your cupboard items. The best part is, any type of grocery list helps you stick to your food budget better. No more impulse buying. If it\u2019s not on the list, it doesn\u2019t go in the cart.<\/p>\n

And with a digital app, you never have to create a grocery list from scratch again. Just input all your kitchen staples and add others as you need them. Place checkboxes next to each item. This makes it easier to construct your list before you leave. And once you\u2019re at the store, you can uncheck items as they go in the cart. That way, you know you haven\u2019t forgotten anything.<\/p>\n

5. CUT THE CORD<\/h5>\n

Pricey cable and satellite subscriptions are becoming less popular, as more consumers switch to cheaper streaming services like Netflix and Disney+. And cutting the cord is an easy way to save on your monthly entertainment budget if you do it right. Streaming services for movies, sports, and live TV give you more customizable options that let you choose a la carte<\/em> programming. You pay only for the content you want to see, not filler content you have to filter through.<\/p>\n

But remember, don\u2019t go overboard trying to chase all your favorite shows. It\u2019s easy to rack up a hefty monthly bill by adding multiple streaming subscriptions. And you actually end up paying more than if you\u2019d stayed with cable. Use streaming providers that cater to specific genres. There are plenty out there that specialize in everything from horror films to documentaries. The more you zero in on the content you love, the fewer subscriptions you\u2019ll need.<\/p>\n

About the Author: Morge is a business, sustainability, and tech writer from Salt Lake City. When she’s not typing away at a new piece, you can find her exploring the mountains and baking her favorite treats. Find more of her work at\u00a0<\/em>https:\/\/hendersonmorgend.contently.com\/<\/em><\/a>. <\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Guest Author: Morgen Henderson Even with the already devastating disruption to our lives, the financial effect of COVID-19 on individuals and families is yet to be felt. In the coming weeks and months, many households will need to tighten their budgets to make ends meet. To that end, we\u2019ve gathered some simple tips that will […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"class_list":["post-465","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts\/465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/comments?post=465"}],"version-history":[{"count":1,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts\/465\/revisions"}],"predecessor-version":[{"id":1882,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts\/465\/revisions\/1882"}],"wp:attachment":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/media?parent=465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/categories?post=465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}