You might be great at saving your pennies. You might be terrible, and trying to get better. With a “save save save” mindset, it’s hard to spend a lot of money upfront. However, not every savings tactic involves not spending. You can save yourself quite a bit of money by spending more when you do spend. Here are 5 ways to spend money now to save money later.
You might feel like the healthiest person you know, but everyone struggles with poor health at some point in their life. In fact, 80% of the elderly have a chronic disease. Poor health often racks up medical bills, so taking care of your health now often saves you thousands in the future. Have you noticed some jaw pain? Talk to your dentist about tmj splints. Did you start gaining excess weight? Cut back on sugar and exercise regularly. When you live longer and better, you’ll be grateful later.
Does that energy-saving lightbulb seem too expensive at first glance? It won’t, after you see your next energy bill. If buying different light bulbs, getting your attic re-insulated, or paying to seal your windows all seem like unnecessary expenses, think again. Energy savings at home are only one of the ways you can spend money today to save money later.
Another great way to spend some of your money now is to invest in stocks. If you want to retire, a stock market investment helps add to a savings account, without taking much out of your current paycheck. You can look into marijuana or cryptocurrency stocks, research the market, and find which investments work for you. You can get started with as little as a thousand dollars. Although it’s a big chunk of money, it pays off in the long run.
Yes, an entire box of canned tomatoes is more expensive than a single can. Several bags of dried beans vs. canned ones is, as well. Anything you can buy in bulk is a bigger financial investment upfront, but it saves hundreds of dollars a year, if you do it right. From toilet paper to pasta, buying in bulk, whenever you have space to store everything, can save you plenty of money in the long run.
Stuff That Works
A good blender is more expensive. So is a good dishwasher, vacuum, and coffee maker. While it might seem like you can’t afford high quality products, think again. A less expensive product is cheap, meaning that it’s actually designed to fall apart after a few years. If you buy with warranty, and you buy quality, you’ll save yourself both money and hassle in the long run.
When it comes to saving money, playing it smart is the best approach. Do some research ahead of time, and think each purchase through. You can save thousands every year by spending more money upfront, so think of the future when it comes to saving money.