In 2019, the economy has a strange bearing. On the one hand, it’s doing excellent. On the other, it seems to be wildly jumping up and down with each newscast you encounter on social media or elsewhere. This leads to wild fluctuations in market trends. Venture capitalists are supporting businesses that wouldn’t get the same kind of support otherwise, and passing on “sure things”.
What does this mean to you as an individual in a position to purchase varying things? Well, in a nutshell, you’re going to want to look for any deals you can. There are countless offers out there which you can employ on a variety of spending practices, saving hundreds or even thousands on your regular spending annually.
If you’re going to make the most out of a market that keeps flirting with a boom, you want to know what sort of spending regularly defines your forward egress. Look at your bank account, and figure out where you’ve got repeat spending. When you know what ends up depleting your paycheck every month, you can work on cutting that down.
Crunching Some Common Numbers
For example, if you spend $200 a month on gasoline, you might look into reward programs from the likes of King Sooper’s in the midwest, Ralph’s in the west, or the Piggly Wiggly in the south. With every item you buy at the grocery store, you have the potential to save money on gas—provided you get a deal with the right grocer. So if you shop at a place which is reasonable in the cost of their food, you can double down on savings.
You might cut out about $30 a month in grocery costs, and another $10 or $20 in gas, netting you $40 to $50 a month. In twelve months, that’s $600. Where else can you consolidate spending and tighten your belt-strings? Coffee Bean & Tea Leaf offers a discount card that reduces the cost of individual drinks, and gets you a free one with a set amount of purchase.
Most coffee shops have something like that; but here’s a better idea: quit buying coffee at a store, start making it yourself. Buy a tin of coffee for $10 and a coffee maker for $50, as well as $10 worth of filters. For $70 you can drink coffee half the year; $80 might get you coffee for a full year. If you’re buying one coffee a day at a coffee shop, that’s going to be about $3.
If you multiply $3 by 365 days in a year, that comes to $1,095. Subtract $80 for the maker, the filters, and the coffee, and you can save $1,015 a year just by avoiding coffee at the store. That plus savings on coupons can yield $1,615 in discretionary assets. As you can see, there’s much to recommend bargain buying and taught budgeting—over the long term.
You might want to look into solutions which offer multiple discounts from known brands by using coupons or discount apps. Sites like these can help you find all the best deals with a minimum of hassle, helping you get what you need for less. Once you’ve determined where your spending rests, from there you can seek out specific coupons to save you a set amount on a monthly basis.
Perhaps make your goal a monthly savings of $300 from your basic costs. That would yield $3,600 a year. That’s enough to buy a crumbling motorhome from the late 70s or early 80s. It’s enough to buy a beater car.
Spend What You Save Wisely
If you’ve got an apartment in a big city like New York or Los Angeles, $3,600 could be downpayment and your first month’s rent. Or, you could turn it into a fine dress, new clothes, or even something like interior remodel on your home; increasing property value and expanding your savings into profitable territory.
Lastly, consider the mobile component for 2019. Most coupons this year will be digital, rather than physical—just like your bank account. You can truly itemize everything down to the penny, and with greater accuracy than in perhaps any year.
So be that conscientious, and set yourself a savings goal. Once you establish these habits, they will serve you beyond this year, and put you in a position to have greater buying power in 2020.