Often when we are
looking to spend less money, perhaps to pay off a loan, increase the money in
our savings or things like this, we look to spend less on items we buy. You may
even find that people advise you to compare costs and swap to buying cheaper
items. However, is this always sensible as will it mean that we buyer lower
Why quality matters
If we buy poor quality items it can often mean that we will need to replace them more often. In fact, there is a well-known saying ‘buy cheap; buy twice’ meaning that if you do not spend enough money on something, you may need to replace it very quickly. It could even mean that you have to end up spending more money than you would had you bought a better quality one in the first place. This can apply to lots of things from cars and furniture to clothing and cleaning products. If you can get better quality items they are likely to last a long time. This means that you will not need to pay to replace them so often. If you choose well you might be able to get something that will last more than twice as long as something half the price. This means that you will be getting really good value for money. It is important to make sure that you know what you are looking for though.
How to check quality
It can be easy to assume that if something is more expensive then it will be better quality and the more you pay; the better quality you get. However, this is not always the case. Sometimes you pay a lot of money for a well-known brand name when the product is no better at all. Therefore, you need to find other ways to find out whether something is better quality. If it is a fairly cheap item, such as a cleaning product, then you can try different products to see which you think is the best. If you find one that is more expensive but does the job using less product then you could find it offers better value for money than a cheaper one that you have to use a lot of. With more expensive items you will not be able to do this. This is where you need to find out what other people think. Asking people that you know can be a good start. Ask them if they have bought an item like the one you are looking for recently and what they thought of it. Ask whether they would recommend the one they got or advise you to get one. Also ask what it was that they liked and disliked about it. This is important as you need to think about what you are looking for and whether this would fit your requirements or not. As people are all different, we are all looking or different things in an item and it could be that something they did not like is something that you could not mind. If you do not have anyone to ask or do not get any useful information then you may need to go online to find the information that you need. Be sure to go to unbiased sources and look at a selection of different sources before you fully make up your mind. Consider whether there is any bias in the information that you are getting as well.
Is quality always important?
In some items, quality is less important and therefore spending less could be worth it. An example of this is when you buy an outfit for a specific occasion such as a party. You may know that you will not be wearing it more than once as it is not the sort of thing you wear day to day and you will not want to go to another party and wear the same thing. In this situation it is best to buy the cheapest thing that you can and then sell it or give it to charity afterwards so someone else can use it. This can also sometimes be the case with food. For example, if you buy a misshapen carrot or a small eggplant it will still taste good and you will pay less as it is seen as lesser quality. It is therefore worth thinking about everything that you buy to try to decide whether you think that quality is important and if so, how much extra you can afford to pay to get a better-quality item. The more money you have to spend, the more important the decision is. It is certainly worth taking time over the decision to make sure that you are getting the best quality item that you can afford and if possible you may even need to save up money before you buy the item to make sure tat you get the best one.
Paying rent is something that most people have to do unless they have a mortgage or own their own home outright. It is often a large expense and can be a source of worry to many people who are never quite sure whether they will have enough money available to pay it and might even get a loan to pay it. There are things that you can do to help though which can be useful and it is worth considering whether there are any options that will suit you.
Pay your rent first
It is really important to be very careful when you are prioritising your spending. It can be wise to make sure that you put money aside for things like rent, that have to be paid, to make sure that it does not get spent on other things. If you can, set up a direct debit to pay it, so that you cannot forget. It is best to have the rent paid just as you get paid, so that there is enough money available to pay it. If you can arrange this with your landlord then this could be really helpful. If you cannot then you could transfer the money form your checking account on the day that you are paid to a savings account and then transfer it back just before the rent is due so that the money is there. You should be able to set this up with your bank automatically so you do not have to remember to do it each month.
Cut down other spending
It can be really helpful to keep your spending levels low so that you know that you have enough money available for the things that you want. It can be wise to set up a budget so that you know how much you can afford to spend in different areas. You will then be able to see how much you have left to spend on certain things. You will need to set the budget so that you can afford the things that you need to pay for such as loan repayments, food, utilities, transport etc and of course food. Then the thinks that you do not need so much you might be able to reduce. Try buying less and also compare prices on everything that you buy so that you are able to make sure that you are not paying more than necessary for the things that you are buying. Obviously, quality is important and if you pay too much less you could end up not getting good value for money. Whether this is important will depend on the types of things that you are buying.
Find ways to earn more
It may be easier for you to find ways to earn more money rather than looking at ways to spend less. It could be possible for you to find a better paid job, which could be really beneficial to help you to earn more. However, you may not want to change jobs or there may not be something better paid in the field that you work in. This could mean that your only option is to work more hours. This might be possible in your current job or you might need to find a second job in order to get the extra work in. This will be easier for some people than others and you may want to think about whether you have the time to do this. If you have commitments at home then it could be possible for you to make some extra money from home. There are online jobs and other work from home jobs which you might find are suitable for you. It is good to investigate the different options as you could find that there will be some that really suit you.
Move to a cheaper apartment
A more extreme option could be to move. Some apartments will be much more expensive to rent than others and so it can be worth looking at what else is available to see whether there is something that would be more affordable for you. It is also worth thinking about the size as a smaller place will be cheaper to maintain, heat, cool and things like this and so that will also contribute to the cost being lower. It is worth considering whether this could work for you. There will be costs to moving and you would need to save up for a deposit on a new place and so it may not be an easy option but could mean you are better off in the long term.
Get a roommate
Sharing the costs can be a good way to make things easier financially. This could be achieved by finding someone to share with you. If you have a spare bedroom then you could find someone to share and help towards the rent as well as the costs of living in the apartment. You will obviously need to make sure that you find someone that you get on well with so that you can live together. If you have family living with you or have no spare rooms then this may not be an option, but it is worth thinking about otherwise.