I’ve seen plenty of articles on how to save money. I’ll be the first one to admit that I’ve published a few articles on this topic. They are very resourceful and can really help people to trim down their expenses by eliminating unnecessary costs. However, the reality is that people NEED to spend money. Whether it’s on groceries, transportation, or a vacation, its inevitable people are going to spend money.
I’ve learned that spending money wisely is almost as important, if not equal to, living frugally. Wait, what? Living frugally…spending wisely…isn’t that the same? Not necessarily. Let me try to break this down for you:
The wise spender will be on the lookout to see where the cheapest gas can be found. They will take advantage of smart phone apps like Gasbuddy to find the cheapest gas station around them and fill up during the nighttime.
The wise spender will look for coupons for items they need, not for items they want. When shopping, they will always make grocery list to prevent impulse shopping. When the wise spender decides between a 6 pack of granola bars and a 12 pack, they will look at the unit price to determine which is cheaper. They also know that items that have a “2 for $10” promotion are priced at $5 each, and there’s no need to buy two items.
The wise spender actively searches on the internet to look for the best prices because he knows brick and mortar retailers have a tough time competing with online retail sites. Their worst enemy is Best Buy, and their best friend is Amazon.com. Before deciding to purchase an item, they will always compare the price by looking on websites such as Pricegrabber.
Because the wise spender has done such a terrific job on saving money, they feel like a weekend vacation is well deserved. I agree. You don’t have to spend thousands of dollars on a vacation. Similar to buying items online, many consumers have gone to the web to book their vacation. There are many travel sites out there that offer fantastic last minute deals on air & hotel. One site in particular, www.travelzoo.com, publishes their weekly top 20 deal based on your location. You can also look at daily deal sites and select the city you’re traveling to and purchase restaurant coupons to save money.
Final Thoughts on how to Spend Money Wisely
Wise spenders will look for ways to save money on purchases while frugal consumers tend to avoid spending money and look for alternatives methods to substitute a purchase. There’s no right or wrong way to save money, because in the end, both methods are effective. So whether you’re a frugal consumer or a wise spender, give yourself a big pat on the back!