There are those who believe that if you want to save money, you should try as much as possible not to spend a lot of it. And while it?s wise to avoid spending money on things you don?t really need, there are things worth purchasing that will pay for themselves eventually. We compiled a list of things you should buy to help save money in the long run:
Efficient home water filtration system
Is your household one of many who still depends on water refilling stations for your drinking water needs despite having a good supply of running water? Consider installing a water filtration system. It may seem costly at the onset, but you?ll see how much you?ll be spared on water expenses later. Visit different stores and look at different brands. Compute how much you are spending in a month for drinking water. Then calculate the expenses for changing your filter and its other components. These may vary from every six months to as long as every five years. You?ll be surprised at the final figures.
Rechargeable batteries and charger
From toys and flashlights to ?high-drain? devices like digital cameras or portable DVD players, it must be hard nowadays to find a house without gadgets that need batteries. If you?re using a lot of battery-dependent equipment, you must have already spent a fortune on batteries alone! Invest on Nickel-Metal Hydride (NiMH) rechargeable batteries that have a higher capacity than the old-style Nickel Cadmium. Lithium-ion rechargeable batteries, although they?re more expensive, are also great buys because of their excellent shelf life. You?ll also help save the environment for not throwing out disposable batteries anymore.
Basic tools and a tool box
Not having even a handy screwdriver, hammer, pliers, or adjustable wrench at home may cost you money. Imagine calling and waiting for a plumber to come and fix a leaking pipe that could have been easily fixed earlier given the right tools. Result: you pay for labor and will have a higher water bill.
Compact fluorescent and LED lights
Sure CFL bulbs cost more than regular light bulbs, but they use up about two-thirds less electricity while producing the same amount of illumination. Also, CFLs are guaranteed to last for 8,000 hours as compared to incandescent bulbs? shorter 500 to 2,000 hours life span.
On the other hand, light-emitting diodes (LEDs) can save energy especially when used for holiday lighting. To illustrate, a typical strand of 50 traditional light bulbs uses 300 watts. With a strand of 50 LED lights, only 4 watts is used. LEDs are also very durable and don?t break easily. And because most energy saving bulbs like CFLs and LEDs generate less heat, they last much longer. LEDs? life span extends up to 100,000 hours.
Items you regularly use that are on sale
Get a return on your money by shopping for the best deals! Anything you normally buy and habitually use that goes on sale is worth purchasing. Just make sure that you really are going to use all of it and that it would not wind up in the trash due to expiration. Non-food items on sale are your best bets although food items can also save you money as long as you are attentive to expiration dates and the items? condition during the sale. Check for damaged packaging and/or color quality especially if buying meats and cold storage food products.
Cuts of meat without or with less bones
Look at the cost per serving rather than the cost per gram. If a cut of meat is cheap, but you throw away a lot of bones and fats, then you're paying more per serving than you might realize.
Spending more money up-front can result to long-term savings. Consider investing in the above items and trim a significant amount of money off your finances.
(This article is from MoneySense, the country?s first and only personal finance magazine. Visit www.moneysense.com.ph for more.)
