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In today's world, costs for living expenses, rent, real estate, and so many other things keep going up at much faster rates than before, while income keeps standing still. CBS News reported last year that consumer prices rose 2.9 percent in July 2018 when compared to 2017. Annual inflation also rose 2.9 percent with most consumer prices rising due to rising housing costs.
With everyday expenses continually growing, it is high time for the average individual to consider a number of different money-saving life hacks. Below are seven perfect money-saving life hacks that will greatly improve your financial situation.
1) Use Water from Your Faucet as Your Main Beverage.
According to The Simple Dollar, one of the best ways you can save money is to make water straight from your faucet your primary beverage. Instead of buying juices, soda, milk, or even alcoholic drinks, you can save a large amount of money by mostly drinking water from your sink. If sink water at your home doesn't have the best taste, you can invest in a water filter to make it taste better. While a water filter costs money, it will help you save much more over time if you stop buying other beverages.
2) Eat Most of Your Meals at Home.
While it is super easy to go out to a restaurant every day, or get take out all the time, this can get very expensive very quickly. I'm sure it takes the stress off if you don't have to do your own cooking, and feels very convenient. However, few people have the funds necessary to keep up that type of lifestyle. The amount of money needed to eat out every day will eventually become unsustainable.
As such, you can get delicious, cheap, and healthy foods by shopping at your local grocery store, and cooking for yourself and your family. If you don't know how to cook, you can start with simple meals by looking up recipes online, or even finding cooking videos on YouTube.
3) Check Out Thrift Stores When Buying Clothing or Appliances.
In addition, you'd benefit from checking out thrift stores. Whether you need to get some new clothes, or buy some kitchen appliances such as plates or bowls, you should consider checking out some of the more affordable items available in thrift stores. Second-hand stores often have the exact thing you need, and you'll be able to save plenty of money.
4) Buy in Bulk as Much as You Can.
Buying in bulk will save you lots of money. Whether you're buying canned goods, toilet paper, paper towels, shampoo, toothpaste, or even skincare products, buying in bulk will help you reduce costs, and keep more money in your wallet. Whether you're buying ampoule vs serum, or other skincare products, you could actually save once you buy it in bulk, whether you buy in a store or online.
5) Buy in Concentrate as Much as You Can.
When shopping for household items, look for high concentration. For example, you can buy orange juice concentrate instead of orange juice, highly concentrated laundry detergent instead of the generic brand, and highly concentrated hygiene products instead of ineffective ones. Have you ever wondered what's the difference between ampoule vs serum? Serums are essentially more concentrated in their active ingredients, while ampoules contain a higher number of active ingredients, and are a more concentrated version of serum. All of these concentrated products will give you more bang for your buck than their watered-down alternative.
6) Use a Clothesline.
Often, doing the laundry can cost plenty of money in water and electricity costs as well as quarters, if you use a laundromat, or a laundry room within an apartment building. As such, using a clothesline to dry your clothes can actually save you plenty of funds.
7) Borrow Books from the Library.
If you love reading, you can either spend tons of money buying books, or you can save some dough by borrowing books from the library. The choice is clear. Going to the library will help you out financially.
8) Repair Items Instead of Buying New Ones.
Another great strategy for saving money is to replace or fix part of an item instead of buying a whole new product. For instance, you'll find that buying a new battery for your watch is cheaper than getting a new watch altogether.
If you follow these seven excellent tips for money-saving life hacks, you'll no longer worry as much about those rising housing costs, or even saving up for retirement. You'll be more financially secure!