Sticking to a budget, getting out of debt, and saving up for an emergency fund can be overwhelming tasks. And depending on how aggressively you are working on these goals, you may have eliminated many luxuries from your life. But with a little bit of creativity, you can bring back some of the luxuries into your daily lifestyle. Instead of buying the luxury itself, we present some budget friendly alternatives.
- Instead of buying beer, consider taking up craft brewing as a hobby.
Cost for a 12 pack of craft beer: $17.99
Cost to make a 12 pack of craft beer: $14.00
Annual Savings: $207.48
For most singles, and those without children, a big part of the entertainment budget is devoted to social drinking. Here, we already assume you’ve cut out visits to the bar, and just want to kick back a couple of days during the week and have a beer or two with your neighbors or friends. Taking up a hobby like craft brewing gives you more advantages than just saving money. It becomes a conversational topic when you are visiting with friends and neighbors, and it gives you a hobby with results that can be quickly enjoyed.
- Instead of visiting the Redbox, check out your local library’s vast DVD library.
Cost to rent 3 movies per week for 2 nights: $7.20
Cost to check out 3 movies per week from the library: $0.00
Annual Savings: $312.00
Another great way to offset a family entertainment budget is to do a lot more entertaining in. And as long as the movie is the same, why not get it from a free source like the public library? Most libraries have extensive DVD collections, and even allow patrons to reserve a DVD title online, and receive notifications when it is their turn to view a title. As long as you can return movies on time, you will have a supply of free entertainment as big as your local library can hold.
- Instead of buying face scrubs and skin moisturizers, make your own from
in-season ingredients.
Cost of a facial scrub cleanser: $8.39
Cost to make facial scrub from raw ingredients: $2.00
Annual Savings: $76.68
For women, an added balancing point when creating a budget is trying to figure out which personal care items should be kept and which items can be pared down. Some items, however, do not need to be eliminated entirely. Those facial scrubs that you favored because they contained natural ingredients, can be made at home (naturally). Next time you’re in the kitchen, consider making an exfoliating facial scrub from brown sugar, pureed blueberries and lemon juice. If your hands are feeling dry, try making an exfoliating and moisturizing salt scrub from coconut oil and table salt.
- Instead of paying for a gym membership, use the free gym around you
Cost of a gym membership: $30 per month
Cost to work out in your natural surroundings: Free
Annual Savings: $360
Instead of paying for the latest gym craze like Crossfit, find ways to achieve your fitness goals outside of the gym. Instead of lifting huge tires like those in Crossfit, you can surely find something of increasing size in your neighborhood that you can lift for free. Take a walk or run through your local park, and if it gets dark too early in your part of the world, you can always look up aerobic exercises that can be done in the comfort of your home.
- Instead of going out to dinner or a bar with friends, consider having a game night at home.
Cost of one outing a month with friends: $40
Cost to host a game night at home: Free
Annual Savings: $400
Have your guests over for a “bring your own game” night. Besides changing it up from the usual bar scene, you will be able to converse with friends in a much more quiet atmosphere. If you don’t have any games to play, you can look up some low cost and free games here: http://www.moneycrashers.com/family-game-night-ideas-board-games/
Just don’t spend too much money on games or refreshments. The idea is to save some money.
- Begin a clothing exchange with your similarly sized friends.
Cost of one outfit every 3 months: $60
Cost to exchange one outfit: free
Take a stroll through your closet in the near future, and take inventory of your clothes. You probably have something, or maybe even a few somethings that are in reasonable shape, you just don’t wear anymore because it’s not your style. Next time you do this, set these clothes aside, and see if you have a similar sized friend you can do a clothing exchange with. It can be a fun and interesting way to refresh your wardrobe, and maybe even try a style that you’ve never considered.
These tips will help you rethink your discretional spending. By taking on some of life’s simple luxuries yourself instead of buying them, not only will you save money, but you will be able to unleash your creative talents