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Things go wrong, and when they do, rarely do we have the extra cash that we need to hand. Most of the time, things like home maintenance and car issues mean that we have to dig deep into our pockets to sort things out. And then, there are the truly unexpected expenses, such as medical bills.
Now, sometimes large, unwanted expenditures can be avoided – touching on the previous paragraph, financial concerns due to your car and medical bills can sometimes go hand in hand as they often stem from road accidents. In cases like this, prevention is always better than cure, so ensure your car is well maintained, that you drive safely and never drink under the influence (speak to a Dallas first offense DWI lawyer if you have been in a drink driving accident), all of which will massively reduce your chances of a crash and the subsequent costs. Planning ahead and taking the necessary safety steps can protect you from any nasty shocks in the future.
Cutting your expenditure means you will have a greater financial reserve should you run into unexpected bills, here’s how…
Switch to unbranded
There’s a saying in the retail industry: eye level is buy level. This means that supermarkets place the goods that make them the most money conveniently at our eye level, so that we will hopefully see these goods and make the purchase without thinking twice about shopping around. Here’s the thing. While standing in the supermarket aisle, if you take a step back, and look down towards the bottom shelves, similar products from off-brand or own-brand labels are right there, available at much lower prices.
Take a packed lunch to work
Again, this is all about avoiding convenience and choosing the option that will take you a little more time but will save you money. Instead of frequenting the local diners and bakeries and sandwich stores that you typically enjoy choosing between on your lunch hour, take a packed lunch with you to work. One loaf of bread can make more than a week’s worth of sandwiches, and fillings can be purchased cheaply. When you think about it, you’re probably working the first hour of your day just to put that money towards your lunch. Make the switch to packed lunches and make daily savings that will add up.
Speaking of food… buy in bulk
Some foods can be bought in bulk to save on expenditure. Things like dried rice, pasta, tinned food or sauces in jars, and even some frozen meats and vegetables can all be bought in bulk at discounted rates. The next step is to bulk cook your meals, making several days’ worth of the same dish that you can put in the freezer to save you time over the coming days – just make sure it’s a meal you enjoy, or you’ll end up with a freezer filled with plastic containers that you don’t want to open!
Switch to cash and save your change
Most people think that using their bank card instead of cash means they save money – but when you have to physically go to the cash machine, collect your cash, and hand it over in a very visual display of what you’ve decided is a purchase you definitely wish to make, you will almost certainly discover that you become more frugal (Six Dollar Family). Oh, and save your change in a change jar for a yearly cash boost right when you need it most.