Why not save money when you can on everything you buy? You can with the right strategies. At the heart of these money-saving strategies lies good decision-making.
In this article, Dinks Finance explains how to save tremendous amounts of money on purchases large and small. It comes down to decisions, like whether to buy new or used vehicles and which coffee to purchase, plus how much. Let’s dive into how to save money with sound budget decisions.
Buying New or Used Vehicles
Purchasing a new vehicle means buying the latest safety features and technology. It also means paying the full sticker price, which typically costs more than $20,000. Buying a new vehicle requires most people to take out an auto loan, costing them the car’s price and interest.
Buying used saves lots of money, usually about $10,000, and sometimes more than that. The vehicles may lack the latest features. You won’t know their true history, even with a Carfax report, since it doesn’t reflect self-repair or off-the-books work.
Check your favorite manufacturer for a certified pre-owned (CPO) vehicle program. With these CPO vehicles, you purchase a recent model year vehicle that the manufacturer refurbished, so it scores on diagnostic tests just like a new, straight-off-the-line vehicle. These vehicles cost about the same as used vehicles, but come with a warranty, which is typically about five years in length.
Save Money on Groceries
In 2022, specialty coffees accounted for about 40% of U.S. coffee consumption, according to The Specialty Coffee Association (SCA). To make better budgeting decisions, join the coffee loyalty club at your favorite coffee chain, so you will earn points or cash back on each purchase. Link your credit card to the coffee shop’s app if it results in added savings.
Commit to making coffee at home at least one morning per week to save money. Purchase your favorite coffee blend in bulk at the grocery store. Buying in bulk saves you money by resulting in a lower per-ounce cost.
Use a cash-back credit card for grocery shopping, so you earn money back on every purchase. This choice results in savings even when you have no coupons to use. Look for free coupons and put them to good use.
Home Maintenance Decisions
Make a commitment to conduct proper home maintenance to avoid huge repair bills. Every year, contractors install more than 5 million roofs, according to Roofing Contractor Magazine. Many of these roofs replace existing roofs that did not receive the proper care.
Catch problems before they develop by examining your home’s roof every six months for wear and tear. Once per year, have a roofing professional inspect the roof. Many roofing services offer these inspections free of charge.
Similarly, take advantage of the free inspections available for foundations and HVAC systems. Besides catching problems early, properly care for the home by quickly patching small damage. Staying on top of these small repairs can stave off larger expenses.
File swimming pool care in this category, too. The U.S. Census Bureau reports that swimming ranks as the fourth most popular sport in the U.S., so it’s no wonder many homes feature a pool. If you don’t keep up with the swimming pool’s weekly maintenance, contract with a pool cleaning company. Regular maintenance costs less than occasional repairs and provides a better swimming experience.
Better Budget Decisions
Small decisions like buying in bulk at the grocery store and investing time and effort into home maintenance can translate into huge savings. Choosing to purchase refurbished items that come with a warranty can also save money. From cars to computers, refurbished instead of new or used gets you the best of both worlds – the latest technology and money savings.
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