Spending Smart
Every dollar you waste, is one that you could be using for eating out, traveling or experiencing something new!
The "Free" Smartphone You Will Pay Through the Nose For
The cost of smartphones has risen steeply in the last several years. For example, the iPhone Pro Max's current price is $1099, and the Samsung Galaxy Ultra is a whopping $1600! The big carriers will of course scream that you can get this pricey devices for free, but as you probably know, you will be paying for these devices through expensive data plans that are required. Today there are many ways to avoid spending astronomical prices for a phone while still getting a quality device that gives you everything you need. For instance, Samsung offers phones at a variety of prices ($159-$599) that get the job done for most people. Motorola has a number of budget phones that are reviewed well, and are much cheaper than the flagship models.
Personally, I prefer an iPhone, but I always buy one model back from the newest phone. Sometimes I buy a used one on a site like Swappa, and other times I buy one on eBay as an "open box" item that saves hundreds. I frequently have bought the previous model as the new iPhone is rolled out. iPhones have excellent resale value, and when I sell them and purchase the next model, it often costs me only about $150 to make the upgrade. I avoid the big carriers and their "free" deals because their plans and fees are so high that they siphon away hundreds of dollars from the consumer.
Ditch Your Phone Carrier
If you’re looking to stop paying exorbitant costs for your smartphone plan, consider switching to a cheaper carrier. There are many carriers that offer cheaper plans than the major carriers, and they often provide the same level of service. Look for carriers that offer unlimited data, text, and talk plans, as well as discounted family plans. The big carriers (AT&T, Verizon and T-Mobile) offer amazing "deals" on phones, but the monthly costs don't necessarily make them a good deal. For example, AT&T gouges it's customers for over $160 for two phones on an unlimited plan. While they might also offer monthly credits on a new phone, the math doesn't always add up.
I use the new Boost Mobile, which now has a plan on AT&T's network, with premium unlimited data for only $26 including fees, and the price is locked for life. Other providers like Mint Mobile and Visible Mobile offer great deals on the T-Mobile and Verizon networks. These mobile companies are MVNO's or Mobile Virtual Network Operator and they can save you hundreds of dollars per year compared to the major companies, while still offering similar coverage and services. Find more information about MVNO's here.
Groceries
Make a shopping list: Plan your meals and make a shopping list before you go to the grocery store. Stick to the list and avoid impulse purchases.
Buy in bulk: Consider buying non-perishable items in bulk to save money over time. Just make sure to only buy what you will use and have the space to store.
Shop sales: Look for sales and discounts on items that you regularly purchase. Stock up on these items when they're on sale.
Buy generic brands: Generic or store-brand items can often be cheaper than name-brand items. Try switching to generic brands for items like canned goods, rice, pasta, and cleaning supplies.
Shop at discount stores: Consider shopping at discount stores or dollar stores for non-perishable items.
Use coupons: Many grocery stores also offer digital coupons that you can download to your phone.
Cook at home: Cook your meals at home instead of eating out. This can be a great way to save money and eat healthier at the same time.
Grow your own produce: Consider growing your own fruits and vegetables if you have the space and interest. This can be a fun and cost-effective way to get fresh produce.
Do you need two?
Consider whether you really need to the expense of two cars. Here are some reasons why you may not want two cars in retirement.
Reduced commuting: In retirement, you may no longer have to commute to work or drive children to school. This means that you may not need as many cars as you did during your working years.
Reduced travel: Many retirees choose to stay close to home or travel less frequently, which means they may not need a second car for long-distance trips.
Cost savings: Owning and maintaining a car can be expensive. By reducing the number of cars you own, you can save money on car payments, insurance, maintenance, and gas.
Cancel Amazon prime
We have dropped our subscription to Amazon Prime; it was simply too easy to buy things on impulse. We still shop on Amazon, but now we have to get our cart up to $25 before we order, so we can get free shipping. We put things in the cart, and then check with each other to see if we have other purchases to make. Often times we end up removing items when we see the the grand total. Sometimes when we look at the items in the cart we decide that they are not needed or can wait. We have cut our credit card bill significantly and we also eliminated adding things to an already full house.
Online shopping tips
Set a budget: Before you start browsing, decide how much you can afford to spend. Stick to this budget and avoid going over it.
Create a shopping list: Make a list of the items you need before you start browsing. Stick to this list and avoid adding anything else to your cart.
Wait before buying: If you see something you want, don't buy it right away. Instead, wait 24 hours before making the purchase. This will give you time to think about whether you really need the item.
Remove saved payment information: If you have your payment information saved on your favorite shopping sites, remove it. This will add an extra step to the checkout process, giving you more time to reconsider your purchase.
Avoid shopping when you're emotional: Shopping can be a way to cope with stress or other emotions. If you find yourself shopping as a way to deal with emotions, find healthier ways to cope.
Keep track of your purchases: If you find yourself making too many impulse buys, start keeping track of them. This will help you identify patterns and make changes to your behavior.
Limit your online shopping time: Set a time limit for how long you will spend browsing online stores. Stick to this time limit and avoid aimlessly scrolling through websites.
