Ways to Save Money in the Long Run

Sometimes you have to spend money to save it. When you’re on a tight budget, it might seem counter-intuitive to buy to be frugal. But some simple things can help you save your dollars. In the long run, they will pay for themselves. Think of these as investments.

Getting Kitchen Tools

If you use up a jar or container, don’t throw it away until you’ve scraped it out thoroughly. A small spatula is perfect for this. For example, mayonnaise and peanut butter containers often have several tablespoons left along the sides and bottom. Since you already paid for the food, why throw it out? Reusable K-cups are another area you can save money in. Of course, no matter which type of K-cup you use, you’re still paying for the coffee. But if a $6 bag of coffee makes 25 cups, each cup is only around $0.24. On the other hand, non-reusable K-cups are often as much as $0.40, which is nearly twice as expensive. Many people accidentally waste food because it doesn’t get eaten right away. Produce especially seems to have a short lifespan in the refrigerator. Getting a produce saving container can help your berries, peppers, lettuce, and other foods last longer.

Refinancing Loans

Two common types of debt that people refinance are mortgages and student loans. This process involves taking out a new loan to pay back the old one. For a mortgage, you might want to consider refinancing if you have a high-interest rate. You should plan on spending about 2 to 3 percent of the amount you are borrowing. Unlike a mortgage, refinancing student loans typically cost anything upfront. As with mortgages, refinancing your student loans can get you a lower interest rate. You can also get more manageable monthly payments through refinancing.

Other Ways to Reduce Costs Around the Home

Instead of purchasing batteries online, consider using rechargeable ones. This is a great option for items that go through batteries quickly, such as flashlights or electronic devices. Rechargeable batteries will last for many uses. A dryer is a big energy hog in your home and can cost quite a bit for each load. While you may not want to completely avoid your dryer, many clothes can be hung up on a clothesline or drying rack. Clothing items such as t-shirts, sweatshirts, and pants will often last longer if they don’t go through the dryer. This is especially true for printed items.

You can also consider getting a set of hair clippers for the guys in your household. Learning to cut hair helps you avoid paying the potentially high prices of a barber. Some types of hairstyles need to be cut more often, and you might be able to save a few hundred dollars each year. Another thing you might want to keep around the house is a replacement power adapter. If you ever ruin or lose a cord of an electronic device, this type of adapter allows you to charge the device. It is often less expensive than purchasing a new device.