People save nearly 4.2 percent of their wages. This fact has been revealed by the Bureau of Economic Analysis. However, there are some people who are able to save more than 4.2 percent of their earnings. These people are called super-savers.
Super-savers are able to save nearly 50 percent of their wage. They use innovative tips to save money. Some take cold showers whereas others give up their vehicles to boost their emergency funds. There is no point in denying the fact that some tips are little bit risky, but that doesn't mean that all tips are bad. There a few tips which can help you live within $500 a month. Just imagine the amount of money you can save each month! You can do so many things with the saved money. You can use the money to pay off your debts, invest in stock markets, build your emergency fund, etc.
Check out some tips that you can help you become a super-saver and live life by spending only $500 a month.
1. Travel via public transport: If you've a car, then car insurance is a must. If you don't have a car, then you don't have to spend bucks on insurance premium or fuel. You don't have to spend money on car maintenance also. You can walk to your school or office. You'll become slim and fit. If your office is too far, then you can just go by a bicycle. The cost of maintaining a bicycle is negligible.
2. Don't dispose your sandwich bags: Believe it or not, sandwich bags can help you save nearly $30 in a year. You can get 100 sandwich bags at $3 only. Sandwich bags are reusable as long as they are clean and dry. Don’t keep any raw meat in the bag. Keep it hygienic. This will enable you to use the bag for a long period of time.
3. Stop purchasing kitchen cleaners: You’ll get various types of chemicals, solutions, and other products to keep your kitchen clean and hygienic. However, do you know that you can keep your kitchen sparkling clean by using lemons and vinegars? Usually, you buy these products during your grocery shopping. You don’t have to expend extra money for these things. Moreover, you can use vinegars to keep your kitchen odor free.
4. Give up your fetish for hot bath: Everyone loves to take a hot bath. However, do you know how much money you can save by directing your love towards cold showers? You can cut down your expenses on electricity bills and water bills. This means you can potentially save a lot of money.
5. Cook meals in a large scale: You can cook soup, rice, vegetables, etc. in a large scale. Keep the leftovers in your refrigerator. You can use them for having future meals. You can just add a few things to make the foods sumptuous. For instance: boiled pasta or rice. You’ll save fuel and money too.
6. Purchase from local vendors: Purchase fruits, vegetables, groceries, etc. from the street vendors. You'll get fresh products from them without burning a hole in your pocket. You can even buy the products in bulk to get discounts.
You can start living with your parents again. Your children will be able to get the love and affection of their grandparents. You'll be able to look after your parents after office hours. Your parents will take care of your children when you’re not at home. You'll save money on the housing expenses. You won’t even have to pay rents.