Every so often I get a little weary of hearing the same old advice for saving money. So I’ve been wondering what, if any, innovative money saving solutions others have been implementing to save money in the long or short term.
I’m not sure whether I’m brave or committed enough to give any of these methods a try, but it does make me think that maybe it’s time for me to step outside of the financial box. Either way, here are some of the cooler ideas.
Innovative Money Saving Ideas
- Personal Finance Shocker. One company plans to release Fitbit like bands that will give you increasingly worsening shocks as you approach and then cross your spending threshold using the attached credit or debit card. Finally a way to make spending with plastic hurt as much as cash.
- Downsize. If you haven’t heard, over the last few years tiny house living has become all the rage. Some of the ways that people have configured their tiny houses to minimize the need for space are downright astounding. The house can cost as little as $20,000 if you build it yourself. In addition, you save money on all kinds of things like utilities for one.
- There She Blows. Apparently you can get a residential windmill installed right on top of your house. These babies can generate nearly half of a household’s energy needs drastically cutting down on energy costs and providing much needed back ups in areas that frequently experience losses of power due to weather. Yes, it will probably take you nearly a decade to make your money back, but tell me this isn’t a cool idea.
- Live in an RV full time. Just imagine! The fun would never end. Actually, the fun would probably end really quickly depending on how many people you try to stuff into that RV. But if you’re able to set things up just so and find the right locations to park in you can substantially cut your cost of living. You would eliminate car payments, most utilities and a whole lot more!
- Make Your Own Soda. Have you seen those soda streams? You can save about $700 a year for a family of four AND reduce your carbon footprint since you won’t be buying all of those individual bottles and cans. Double benefit!
- Find a Wedding Sponsor. If you play your cards right, you could have everything from the gown, to the lodging to the rings covered by a company. Many young couples are doing it these days. They say that the marriage is what they make it. Since weddings have already become insanely expensive thanks to the wedding industrial complex is it really so wrong to want to have that same complex chip in a bit? I think not!
- Shop With Headphones On. It’s amazing the amount of time and money that goes into creating the perfect spending atmosphere in your favorite retailers. Take back your power by blocking out one of the many ways that they get into your head: the music. Studies have shown that classical music (versus top 4) played in a wine store often leads to purchasing higher priced items. Loud music and slow music can both influence you to spend more money depending on the store. Don’t let the store tell you how much to spend.
Have you given some or all of these innovative money saving solutions? Or even thought about them? Let us know in the comments!