Saving money often comes at the expense of saving time. It seems impossible to do both. But it doesn’t have to be.
Making the five following decisions is guaranteed to save you both time and money, and you’ll be surprised how easy they actually are.
Credit cards can be fun to use, and especially so with cards that provide rewards. However, sometimes life gets crazy, and between the credit cards, auto loans, and other debt accrued, time keeping track of all of those bills and money spent on separate payments accruing interest is wasted.
Looking into an institution that provides the best personal loans could be a major time and money saver. These are often loans that can help consolidate debt into a single, low monthly payment, or at least fewer, monthly payments. You’ll save money by not paying for each bill that charges you separate interest, and time with a simplified budget.
Spend less time in the stores
Window shopping is a lot of fun, and it’s typically harmless to browse and see what a retailer has. This kind of surveillance could save you time and money down the road, but overall, getting in and out of stores quickly when you’re shopping is the best plan of action. This removes the threat of temptation and saves you time on necessary trips.
Writing a list and sticking to it can help hasten a trip and block out impulse spending, as can eating before a grocery store trip, so you aren’t hunger-shopping. Planning is key.
Skip the Sales
Odds are you have enough shoes, clothes, kitchen gadgets and other paraphernalia that many retailers will put on sale and send you a notification for. Just because something is on sale, doesn’t make it the best price yet.
Getting in the habit of shopping off-season, or waiting for markdowns, and then a sale on top of that is a prime way to save both the time you would have spent trying to sift through sale merchandise and the money you would have spent on something that might be further marked down next week, or on a bigger sale. Of course, if you’re in need of something, sales can be a great way to save money, but the time and money spent because a retailer labels something as a sale can often be better used later on.
Avoid the overpriced extracurricular activities
The most popular or name brand activities often have equivalents at the local recreation center, community college, or public school. Along with avoiding the high price tag, you’ll save time not being on a waiting list, or standing in line.
Many people forget about the community activities they have available, so make it a point to research what activities your community is putting on. This is also the case for daily activities, not just sports. A bit of research before heading out can help save money on tickets for shows or turn up events that are free and potentially more fun than something that’s overcrowded and pricey.
And, while it’s fun to eat out occasionally, most of us do it far too often. Eating out is often seen as a way to save time, and food chains are doing their best to convince you it saves you money or doesn’t cost very much more than you would spend on a home cooked meal, but the truth is that when you eat out, you have to travel to the destination, order and then wait for your food to be prepared and brought to you. You spend much more for the convenience of someone else making your food, too. A meal made at home can be much more fun to prepare together, will often be healthier, and is nearly always less expensive. This way you save money, and time is used more efficiently and more enjoyably than sitting and waiting for food.
Be vigilant about possible scams in mail and email or online
The time and money spent trying to sort out financials after something fraudulent happens can add up quickly. Being wary of unknown senders and advertisements that appear to be too good to be true is a good practice to save time and money. A little bit of caution can pay off big time later on.
The most time-consuming catastrophes are always related to finances. Making an effort to minimize those disasters now means that you won’t have to spend time on hold with the credit bureaus or financial institutions later on as you attempt to sort out the aftermath.
There are often easy solutions to implement that are forgotten about, but can save much time and money both immediately and long-term. A bit of planning can do wonders, as can focusing on how to spend time and money.