5 Ways You Can Save Money as Newly Weds
Most people would agree with the say that saving money seems to be another different chore of its own. Aside from the fact that you have to be putting money into your savings to continuously add up the total amount, you also need to be on top of all the math and balances you have in your www.lendgreen.com loan account.
But if you think that’s working, then wait until you get to the part where you and your newlywed start thinking about the best way the two of you can come to an agreement and figure out which is the best method or way you can both save as a couple. It is true that different people save money in different ways, and the same goes for the newlyweds too. Which is why it is usually important that the two of you, assuming that you also fall into this category, come together, talk to each other and come to an agreement on some of the best ways you can save money together. And that is where this article comes to the rescue; to provide you with five simple ways that the two of you, as a couple, can save money.
1. Establish a budget
Among all of the other financial decisions, you will make together as a couple, establishing a budget seems to be the one that tops all of them. Creating a strict budget as a couple and sticking to it can help you save a lot of money together. A budget will basically remove any spontaneity and financial flexibility about how you will manage your money as a couple. A budget will also give you a better understanding of your financial situation in real-time.
2. Cut the cord
Agree on matters like how you can unsubscribe from the normal cable television and go for the online streaming services instead to watch shows and movies. This is what Millennials refer to as ‘cutting the cord.’
Research has found that the average bill for cable television is usually somewhere at $99.10 each month. This may look like an ideal option from the fact that you get some pretty good shows and movies from the service. But if you compare this to the cost of online streaming services like Netflix, which costs $9.99 each month, Hulu costs $7.99, Amazon Prime comes in at around $17 each month, etc.
So, let’s say you opt to sign up for about two online streaming services. In a span of 12 months, you will realize that you have saved almost $1,000. That is pretty awesome, right?
3. Compare insurance rates
Comparing and looking up the best insurance rates is another great way to save some cash as a couple. Look for the best car insurance rates, for example, by comparing the many different insurance companies around your area. If you do your comparisons right, you may end up saving many hundreds of dollars in the process. You can even use the online rate comparison tools which makes the whole process a lot easier.
4. Use coupons while shopping
Okay, coupons are known to get bad reps sometimes, but even so, if they can help you save cash, then why not try them out? Saving $5 or $10 every once in a while, may not seem like much to you, but if you do the math and calculate the total amount you might actually save over time with these coupons, the amount could be in the thousands of dollars.
5. Make exercise free
According to national data collected, the average amount that people spend at the gym is usually between $40 and $50 each month. But when you include the annual fees plus any other add-ons, you may be looking at something closer to $800 each year. Then one of you comes up with the idea to exercise at home. You could be saving up this money instead and use it on other important things. Run around the neighborhood or even join a cheap gym in your neighborhood. You can save a lot of money this way.