Instead of indecisively stressing out about upcoming expenses and bills, make constructive moves that will have a lasting positive impact on your financial health and life. These prescribed changes are guaranteed not only to save you money, but also make you a more self-sufficient, confident and dynamic person. You don’t have to be a penny pincher to embrace creative approaches to a low-cost lifestyle.
1: Give up the gym membership
Gym memberships can cost $50-$150 every month, which can be a big chunk of your salary. Not to mention the cost and time involved in transportation. The gym is old news and body weight exercises are more popular than ever. Or, grab your running shoes and hit the trail for a run.
Switch out your gym routine for a fitness app on your phone. There are apps like Aaptiv, Seconds, Freeletics Bodyweight, Sworkit, Keelo, Charity Miles and Daily Ab Workout. Many of these are free or have a low monthly charge (less than $10). Yoga can be done at home with just a mat, or with the help of a cellphone application like Yoga Studio.
2: Do your own oil changes
While it might sound gritty for the domestic novice, doing an oil change actually takes less than 20 minutes and doesn’t require you to get too dirty. You can find lots of tutorials on YouTube on how to do an oil change for the first time. Make sure you also consult your car’s manual for specifications on oil viscosity, filter type and other factors.
The standard body shop charges $35-50 for an oil change. Oil changes are recommended every 3,000 miles or three months, so you could save up to $200 a year, or $400 for a two car/driver household. A small upfront investment is required for tools, and oil can be purchased in bulk. So, you have every reason to overcome your fear of looking under the hood and start changing the oil in your car. Regular oil changes are also incredibly important to extend the life of your car, which will save you even more money down the line.
3: Do your own haircuts
Like most new endeavors, you might experience a small learning curve when you begin cutting hair. Luckily, hair grows back quickly and after just a few months, you’ll have learned a new skill that will benefit you and your family for life. A quick online search results in many videos and tutorials on how to cut your own hair.
Invest in a nice set of hairdressing scissors and clippers. Start with small trims until you have built enough confidence to cut off longer pieces of hair and try out more complex styles. Salon haircuts can run $30-100, plus tips. This adds up, especially if you have a family with children. Also consider doing your own waxing and pedicures.
4: Apply for government subsidized electricity
Utilities can cost hundreds of dollars every month. There are many ways to reduce your electricity and water bills, for example, by installing energy-efficient light bulbs and low-pressure faucets. These habits are healthy for the earth and your wallet, but if you are in a low income household then you may also qualify for federal assistance on your energy bill.
Low income energy assistance and weatherization assistance are two types of government subsidies available in most states. These benefits provide low income families with federally-funded assistance on home energy and heating and cooling bills. Learn what you are eligible for and take advantage of these programs by visiting benefits.gov.
5: Learn to knit
If you’re imagining yourself in a rocking chair by the fire like an old granny, try not to laugh! Knitting is a fun hobby that has been gaining popularity in various countries and social streams. This hobby especially comes in handy if you live in a cold climate. With a little practice knitting, you can start making high-quality clothes and accessories for you and your family, including socks, sweaters, scarves, mittens, slippers, hats, blankets, quilts and more.
At the 2014 and 2018 Winter Olympics, members of the Finnish snowboarding team were spotted knitting between competitions. According to the Huffington Post, “Knitting is calming, relaxing, and keeps us centered because of its repetitive rhythmic movements, which can help prevent and manage stress, pain and depression, which in turn strengthens the body’s immune system.”
Final Thoughts
When it comes to saving money, it’s important to think outside the box. Life adjustments and adaption might be necessary, but in the end you’ll acquire valuable abilities that you can share with others, and maybe even capitalize from.