I know this is a subject that probably nobody wants to talk about. Nobody wants to think about what is an actual need or just a want when it comes to spending their money. Or you might think that it’s actually pretty easy to decipher between the two. It should be pretty obvious right?
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What’s the difference between needs and wants?
There are actually just a few basic needs in life and they are food, shelter, clothing and transportation. Pretty much anything other than that is a “want”. I know that a lot of things might seem like necessities to get through life. However, if they are causing you live above your means, then you might need to reconsider some of the items that you include in your budget.
If you are trying to save money or pay off debt, there are ways that you can cut down on the cost of the things you spend your money on. I know the thought of cutting some things completely out of the budget sounds scary and sometimes going cold turkey is not the right approach. If you are able to reduce the amount you spend in certain areas you will help your budget out a lot.
I will share some ideas on how to save money in the most common areas that we spend our extra money on.
Eating out
We all like to eat out of course. Whether it’s date nights, Friday night takeout, running through the drive-thru on our lunch break, or lunch after church on Sunday, the cost of eating out can add up quickly.
When we were first married, my husband and I ate out a lot. We probably ate out 2 or 3 times every weekend. As we started having kids, we started eating out a little less, but the kids could still share part of my meal so it worked. Now our kids are getting older and at the ages where they each need their own meal. The cost for us to eat out has doubled and that pretty much allows us to only dine at fast food restaurants. We also only eat out for lunch on Sundays. I still felt that we needed to cut our spending down a little more in this area of the budget, especially since half the time I didn’t think the cheap fast food was worth spending money on. So now we try and eat at home at least twice a month on Sundays.
Ways to save money on eating out
- Date nights – If you go on regular date nights, have a date night in once or twice a month. Make a special dinner at home and watch a movie on Netflix. If you have kids you can still hire a sitter for 2-3 hours or have a date night after the kids go to bed. On that note, another way to save money on baby-sitting costs is to trade baby-sitting with another couple that has kids. They watch your kids one week and you watch theirs the next.
- Pack your own lunch – There are so many cool ways to pack your own lunch for work these days. It doesn’t have to be a boring brown bag lunch. You can do salads in a jar or take your lunch in these cute dividable containers. Switch it up and pack whatever you would like. Fruit, veggies, cheese, lunchmeat roll ups, nuts, you name it. If you bring your own lunch to work at least a few times a week, you will save yourself quite a bit of money.
- Buying coffee – I know your favorite coffee stand might be hard to resist. We all like that little extra boost in the morning (or afternoon). Even $5-$6 per day for coffee can add up fast. That’s at least $35 a week. You will save a lot of money if you make your coffee at home 2-3 times a week. I know what you’re thinking, “I can’t make coffees that taste as good as what I get from my coffee shop!” Maybe not with a regular coffee pot. However, if you invest in an espresso maker or a Ninja Coffee Bar like I have, the machine will have paid for itself within a few months. You can find some delicious recipes for homemade coffee drinks on Pinterest. I came up with my own recipe for an iced white mocha and some of my friends say that it tastes better than what they’ve bought at coffee shops.
Personal care treatments
Whether it’s a monthly trip to the nail salon or a weekly massage appointment, we all enjoy spoiling ourselves with a little extra care. Some of these appointments might be necessary, but these too can add up in cost.
How to save on hair and nail appointments, etc.
- It’s actually important to get your hair cut to keep it healthy. If you would like to save money on hair appointments, try a hair style that is easy to maintain and that you don’t need to get cut so often. I know that it depends on your hair type and it’s not always possible, but I get my hair cut about every 6 months or so. If that sounds extreme, maybe try going every 2-3 months instead of every 6 weeks. If you get your hair colored, you can learn how to color it at home every other time. This would probably only work if you don’t get highlights, unless you are extremely brave and talented. 🙂
- If you get manicures/pedicures on a regular basis, you can use the same concept as above – do your own nails at home every other time. I know it feels great to go to the nail spa and get pampered, but personally I cannot fathom spending $30 – $60 to get my nails done every month. I have found some pretty good nail polish and paint my own toes during the summer. You can make it fun and have a girls spa night with some friends.
How to save on entertainment
Entertainment provides great relief to the stress life can bring. However, its expenses can add up quickly. Especially if you go out every weekend. The following are some ideas to cut down on entertainment expenses.
- Use Groupon. There is a coupon for almost everything on Groupon. Whether it’s going to an amusement park, bowling, or to a movie theater, check Groupon first. You can save up to 75% off or more depending on the activity.
- Host a party or get together with friends at your place. You can host a fun dinner or have everyone bring a snack to share. We love having game nights with our friends. We have also done mystery dinners, ugly sweater parties, and just hung out and had coffee.
- Check out free events in your area. There are plenty of free activities to do, especially in the warmer months. Concerts in the park, hiking, picnics at the park or lake, annual parades or festivals. Check local websites to see what your area has to offer.
Follow these tips to save money on the extras
If you follow even a few of these tips in your spending habits, you will save a substantial amount of money every month and over time. Making small changes in your budget is much easier than being super strict and cutting things out completely. As I said, it is ok to have these extras in your budget, it’s just figuring out what your spending priorities are.
If you are looking for more inspiration on how to manage your money, I highly recommend reading the book How to Manage Your Money When You Don’t Have Any by Eric Wecks. He tells his personal story on how he and his family managed to survive financially during and after the recession. He shares tips on how to become financially stable with the money that you have.
Recommended posts: If you need more ideas on how to save money or make a little extra money on the side check out these posts.
