8 Situations Where Spending More Saves You Money

8 Situations Where Spending More Saves You Money

There is a place for budgeting in everyone’s life. However, there are situations when paying a bit more helps you save money. The trick in building more wealth is knowing the difference. Here are 8 instances when you definitely want to spend more to save more.

1. Shopping for groceries online

Write your grocery list and order them online to avoid extra spending on impulse buys. Some stores also offer a delivery service for added convenience.

2. Living in a nicer neighborhood

A nicer neighborhood means higher rent or mortgage, but also lower homeowner’s, renter’s, and car insurance payments. Moreover, you can save money on your commute since more expensive areas are usually central and near places of business. You may not even need to drive a car!

3. Meal delivery

Use this service when you are transitioning from eating out or ordering delivery every night into cooking more at home. The delivery boxes offer options that make it easy to cook at home, and often come with ingredients and easy-to-make recipes.

4. Buying high-quality items

It is tempting to get the cheapest stuff but you may actually save more money by investing in quality. The items will last you years longer. Research any big purchases before you buy to ensure you are getting superior quality items.

5. Shopping organic

Organic food costs more to buy but it saves you more on hospital and health insurance bills. The positive impact on your health cannot be underestimated. Check out your local farmer’s market for fresh and locally grown produce and buy in bulk to save money.

6. Purchasing membership shopping

When is it worth it to pay to be able to shop somewhere? You can save money with these memberships when you buy in bulk, get free delivery or shipping, or have access to lower prices and exclusive members-only deals. However, you should still compare the prices of different memberships.

7. Buying a home

Renting is cheaper in monthly costs and insurance, plus you do not need to bother yourself with home maintenance and property taxes. However, you build equity when you buy a home and this gives you the chance to save money and increase your overall net worth in the long run.

8. Getting insured

In good times, an insurance premium is the most annoying expense you can have. But if you do end up with an emergency, you end up saving thousands of dollars with your insurance.

Ian Schindler