Thursday, 9 August 2018

5 Lifestyle Changes That Can Help You Save Money


Trying to achieve financial and health goals you have set for yourself? The ideas discussed here can help you make positive changes in your lifestyle that will help you save money and maintain a balanced life.

When you stay fit, it's not just your waistline that profits. A healthy body and lifestyle can also make you rich. In fact, you’ll be a pro at saving money.

Trying to stay fit both physically and financially is quite similar. Simply eat fewer calories than you burn, and you will stay in shape. Spend less than you make and you will save.

If you're working your way towards a financial goal, like planning a tour, saving for retirement, setting up a savings fund, or for emergency situations, you need to make certain changes to your lifestyle. You can start keeping money aside that will help you in the long term.

However, that does not necessarily mean that you have to give up your everyday expenses.

Here are 5 easy way you save money by making slight changes in your lifestyle. The best part is that you can start today!

1. Start working out

Exercising can set the basis for a healthy lifestyle and also save you a lot of money on the side.
Exercising at home rather than paying a huge amount of gym fee will help you save extra money.

Founder of the men's fitness magazine, Kelan Kline, along with his wife Brittney, set a goal at the beginning of the year to lose 40 pounds. With a desire to lose weight along with being frugal, Kelan decided to spend as less money as possible in the process of losing weight.

Rather than paying for the monthly private gym membership, he and his wife became members at the local college gym for only $45 per month. Simultaneously, they also started their own outdoor exercise regime that included swimming, cycling, jogging, biking and running at the local park for free.

The best part about ‘no-equipment, at home workout’ is that you can start anywhere, and you don't have to spend a lot of money either.



2. Give up one bad habit


When you’re searching for methods to save money without making significant changes to your lifestyle, start by giving up one bad habit that is affecting your life and wallet both.  

Michelle Clardy, the senior editor at the Savings and Sangria blog, says, smokers should consider giving up this habit as it will bring a positive change in their lifestyle and save them money too.

Let's hypothesize you spend $7 dollar a day on cigarettes. If by chance you decide to give up, you could save $2,555 dollar in a year. And if your insurance costs also reduce by $100, then you could save another $1,200 dollars. Being able to save this much money, you can easily fund your retirement account.

Other bad habits that you can give up to save money may include, letting go of alcohol, soft drinks, and poker. These not only are bad for your health but also your wallet. Giving up these bad habits will spare you a lot of money that you can put aside in a fund. Also, browse online fashion stores and grab the best deals on clothes,accessories.

Small changes to your lifestyle can go a long way if you stick by them and implement it in your daily life. Savings is useful for a luxurious present and a better tomorrow.

3. Stop eating out

Eating out every other day can seriously affect your budget. A report published by theU.S Department of Labor Consumer Expenditure Survey, people spend nearly 44 percent of their total expenses on dining out.  Apart from emptying your wallet, it's easy to add on extra calories if you're not careful of what you eat.

Experts at Capital Management firms suggest making changes in your eating habits will help save money. It might be difficult to adjust to a new change in the beginning, but you will eventually observe a growth in both your health and finances.

You can start meal planning by going through cookbooks and various websites. Set your meal plans a week ahead you go grocery shopping. At first, it will consume most of your time, but once you get used to it, it will hardly take 10 to 20 minutes.


4. Consume Fresh Food

Preparing your meals at home is a great lifestyle change to save money, yet to benefit from this habit it's important to choose the correct ingredients. This simply means, avoiding frozen food items, and processed food. Opting for organic products is a lot expensive is just a myth.

Many people think thateating healthy will cost them a fortune, but the fact is that you can eat healthy and fresh while staying on a budget as well.

A report published by the Consumer Reports says, that not all organic products are expensive, it all depends on where you purchase and what you purchase.

Eating healthy and fresh is all about making the right choices.  Instead of purchasing the unhealthy processed food, spend your money on vegetables and fruits like; carrots, celery, oranges, melons, spinach, grapes, vegetables like onions, eggplants, cabbage, mango, and avocados are grown organically and without any pesticides.

Healthy eating and keeping a track of your calorie count are two lifestyle changes that will boost your health and help you save money.



5. Take advantage if medical facilities


Another great way of saving more and spending less is availing the health benefits provided by your job. Many companies offer health insurance to their employees. If you're lucky enough to work in any one of these companies, make the most of this opportunity and save yourself lots of money.

Health programs are developed to provide incentives to employees to maintain good health and lifestyle. Basic benefits may include a gym membership, free health insurance, and rewards for achieving certain health goals to keep you from smoking, drinking alcohol and encourage you to lose weight.

If you're considering making lifestyle changes to save money, then you cannot ignore a health savings account (HSA).
These health funds can be useful in emergency health conditions, or you can save for future health expenditures too.

Contact your manager regarding the medical benefits your company offers and explore new ways to save money without making drastic changes to your lifestyle.

When you're working towards a financial goal, it's important to know what changes you can make to your lifestyle. It's not necessary to apply all these changes to your life. However, if you can adopt 2-3 habits, you can easily make positive changes in both your physical health and financial health. 

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