In this article we will suggest 9 ways of saving up for your first deposit, which have been tried and practiced with a lot of success.
There is a wide variety of different programs, advice and training, which are designed to help people spend less. One couple from Boston developed a saving plan of their own, which helped them lower their spending by a whopping 71%. With every day the goal of the loving couple to move to Vermont is becoming closer to reality. This couple which calls themselves “Frugalwoods” has developed the 9 principles that we have listed below, which work great for them to help spend less and saving up more for important goals.
Everyday habits are good
A lot of money is spent on those services or chores at home, which you can do yourself. Can’t you try and fix a leaking pipe yourself, or perhaps take out the trash and do a simple haircut for your husband? That’s without even mentioning cooking food instead of the making the nowdays popular choice to eat at a café or restaurant. With the development of Internet any person can quickly find the answer to his domestic question and try to apply some DIY skills. SO why pay for something, that you could do yourself?
Everything has a free alternative
Looking for a way to lower spending became a sort of a game for Frugalwoods, which they excelled at. They found an alternative for nearly every expenditure. Instead of a fitness club – trainings at home, analogue TV – instead of digital, and upgrade of personal cooking skills instead of a café. “And how many different free venues there are for leisure in our town, this something that you will be surprised to find out f you take an interest in this” – the Frugalwoods say.
A hobby can be cheap
Understand this once and for all, you can get some great rest and spend your time without spending money. Walking downtown, picnics, trips to the lake or forest, cooking together, reading, volunteering, musical and sports activities, free exhibitions, table games – the options are only limited by your imagination.
Train your strength of will
Per Frugalwoods personal research, training your will helps significantly to limit spending. To train it, they recommend not to buy certain things for an extended period of time, for example, clothes. Throughout this “fast” you will not only help with saving your finances, but will also get a chance to think if you really need this item that much. Frugalwoods have tried this training over a year, and decided to continue on even after that period, despite being already pregnant with a child at that point.
Used clothes – are a good option
Buying second hand clothes is a great way to lower spending. Besides being cheap, it can be fun to find out how to reanimate old furniture or some used clothing items.
Before buying a certain thing, take some time to think, whether you need it that much. If the answer to that is confirmative, be sure to go for your purse. If you are getting second thoughts though, why not spend the money on something that has more use for you and your relatives? This way you teach yourself to spend with more consideration and discretion. Try to discuss your purchases with your loved one, and find a decision that is right for the both of you. It is true when they say that one head is good, but two is always better. With time, you will learn how to find places where one thing is cheaper than in others. And this is also a great feature of sixth Frugalwood’s suggestion.
Plan with benefits
Try to plan your tasks beforehand, and get ready for future troubles early. For example Frugalwoods fridge is always full, and they always cook beforehand, so as not to spend time on that when they get back from work. Long before deciding to get children, they started to fill the house up with children clothes and toys. When planning a trip out of the town, they always think of free parking locations beforehand. And thus in every question, every problem or cause, even the slightest, and seemingly insignificant.
Surround yourself by people with similar interests
All people tend to gravitate towards company. Sometimes, even when they don’t have the desire to spend a lot, are forced to do so in order not to stand out among friends and colleagues. This is why you have to try and create circle of friends that have a similar approach to spending to yours. This will help your saving and lower your expenditures significantly.
Remember – material things are always imperfect by nature
It is obviously understandable, that when buying second hand items, you will be forced to cope with certain flaws related to the fact that these things have been used before. This is applicable to either furniture, or a used car. But Frugalwoods advise to learn closing your eyes on this – it’s totally worth the end goal in the long run!