Most people think that saving money requires extreme bookkeeping and giving up things like going to the movies, out with friends, or out to dinner. While you will need to cut expenses to save money, you don’t have to sacrifice fun. Here are six clever techniques to trick yourself into saving money while still having a life outside of work.
1 Do not withdraw cash with a credit card
The bank takes a fee plus interest when you withdraw cash with a credit card. Having withdrawn $1,000 using a credit card, a person can pay the bank anywhere from $100 to $300 in fees and interest. Also, when withdrawing cash using a credit card, there is no interest-free grace period.
2 Workout for Free and Save
It is not necessary to go to an expensive gym to get a good workout. A person can work out for free by doing physical activities throughout the day. Extra activities such as walking in your neighborhood or taking the stairs cost nothing, and a person’s body and wallet will thank them.
3 Drink more water
Water increases energy, suppresses the appetite, and cleanses the body. Drinking water is good for maintaining your health but can also save you money. Soft drinks, juice, alcohol, coffee, etc. are costly, especially if you buy them in a café or restaurant. Water, in most cases, is free, and the savings will add up.
4 Find alternative entertainment for the kids
Instead of taking your kids to expensive amusement parks, restaurants, or shopping centers, try inexpensive or free options. Parents and children can watch movies online together, organize a picnic, ride a bike, take a walk, play board games, practice sports, etc. All these options are fun and far less costly, saving hundreds of dollars and creating great memories for you and your family.
5 Pay your children for housework
There is no better way to explain to children that money does not grow on trees than to pay a housework allowance. This income is an ideal tool for teaching the value of money and saving and spending wisely.
Invite friends to the house and prepare dinner instead of going to a restaurant. A bottle of wine and a delicious steak dinner will be far less expensive at home, and the time spent with friends will be priceless.
To save money, you don’t have to sacrifice fun and entertainment. If you use these six tricks, you can still have a great time without breaking the bank, and your family, friends, and wallet will thank you!
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