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Making the decision to live alone is a big step that about 28% of Americans have made. But the fact that it’s not a rare occurrence does not make it any easier. Apart from the emotional freedom, other factors like financial responsibilities can make you second guess your decision. Fortunately, there are a few hacks that you can use to reduce the stress that comes with bills and expenses. Here are six of them.
Switch to cash for certain expenses
While using a credit card is convenient, it is a quick way to overspend and incur debt. It may not be practical to pay specific bills like utility and rent in cash, but you could for other expenses. For example, you could switch to cash payment when shopping for groceries or clothes. Paying things with physical money makes you more aware of your money habits and choices and puts certain restrictions on your spending. Therefore, you are more likely to save money for the things that matter.
Create meal plans
Leaving home sometimes means giving up home-cooked meals, and the transition is not always smooth. You might be tempted to patronize restaurant food for takeout regularly, but you must do your best to resist the urge. Cooking your own meals will save you money and is a healthier option. As simple as that sounds, you can still spend more money than you need to if you are not careful. One way to avoid this and to save time is to plan your meals a week ahead. Knowing exactly what you are cooking for the week influences how you shop and most often reduces how much you will have to spend.
Assess your subscriptions
These days there is a subscription for everything from the internet to entertainment. And when you live alone with no one to split these expenses with, you might end up spending more than necessary. You will have to critically assess your subscriptions to see if there is a way to cut down on how much you pay for them. You might even realize that you do not use the services that often, and in those cases, it is time to unsubscribe completely. For others, you might need to switch to a cheaper package if you notice the one you are currently on is too expensive. If possible, look out for other service providers less expensive than your current one and purchase those products. At the end of the day, your goal of spending less will be achieved.
Go thrift
For some people, cheaper means low quality, but that is a common misconception. You can get some great finds from clothing to furniture, that would cost you less for the same quality. So, consider shopping from your local thrift store or any website for items that would otherwise be too expensive. Note that thrifting can also get addictive, and so exercise caution when indulging in the practice. You would defeat the purpose of buying cheaper items if you become addicted.
Another idea and way to save money or cut back on spending now is to pay for purchases over time. Here you can learn more about the top affirm alternatives and how it works exactly. This can help you get what you need or want now without having to spend a lot of money upfront.
Get an affordable space
These days, there are many properties for rent or sale to choose from, and this can cause a dilemma. However, you will be shooting yourself in the foot if your choice does not match your financial ability. So, ask serious questions about how much you can spend on getting a living space without breaking the bank. If possible, learn about the housing market and weigh all your options before making a final decision on where to stay. If you used to have roommates who moved out and downsizing makes more financial sense to you, then go for it. As mentioned, there are a lot of options available nowadays, and all you need to do is make the right choice.
Look out for coupons and discounts
Apart from going thrift, another way to spend less on items you might need is by using coupons. Coupons allow you to buy things for almost half the price or even for free, depending on where and what you are buying. Fortunately, there are resources online dedicated to finding the best coupon deals, and they include blogs. Many of the coupons can be printed and presented and redeemed in the store. When installed, certain apps even alert you on discounted items on the internet while you’re online shopping.
The bottom line is that living alone seems glamorous until the money matters are involved. But you can still enjoy the perks of solo-living with these simple yet useful tips.
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