6 Ways to Save by Spending More

Mar 05, 2014Reading Time: 3 min

Down-to-the-dime frugality is not the only way to stack savings. As counterintuitive as it seems, you can actually save more by spending more, depending on where you place your money. Certain purchases that seem heavy at first glance may provide significant monetary gains in the future. Here are six ways to save by spending more.

Invest in a financial pro. As you get older, (hopefully) you’ll start to see your bank account numbers swell. Personal finance becomes more complicated with wealth and age, and with a busy schedule, you may not have the time to put research and learning into your own financial strategies. Find an expert who understands your investing values and financial goals. In the meantime, focus on your career while someone qualified manages your money and provides sage advice.  

Dress like a million bucks. The saying dress for success cannot be understated. For many, the secret to success is the way you dress. We communicate in everything we do, and what you wear can determine your next raise (or your next date). Studies have shown it has an effect on both the wearer and the observer. From this, we can assume that splurging on expensive clothing is a good idea.

Seize the deal. Paying more when you stumble across an irresistible deal is an effective way to save a net amount. Aggregator sites like Promocodes.com have thousands of coupons and coupon codes ranging from 2-for-1 deals to exclusive limited-time offers. You should always opt to buy sales in bulk for items you already plan to purchase.

Light for less. Incandescent bulbs cost less on the shelves at Lowe’s and Home Depot, but compact florescent bulbs cost less in the long run. Compact fluorescent bulbs use 75 percent less energy and last 10 times longer, and switching to them completely can save you more than $165 a year. The electricity over the lifetime of a single incandescent bulb costs 5 to 10 times the original price. According to Energystar.gov, swapping for the more expensive compact florescent bulbs can save you nearly $3,900 if you’re lighting 10 rooms with three bulbs each.

Apply this logic to appliances. There are two price tags for every appliance: how much it costs to take home and how much it costs to operate each month. Energy Star qualified refrigerators, dishwashers, and clothes washers consume 40 to 50 percent less energy than conventional models. Investing in an energy efficient model will save you in the long run to due appliances accounting for 20 percent of your home’s energy.

Get your groceries delivered. Grocery store shoppers should opt for home delivery. Vons, Safeway, CVS, and Amazon send groceries to customers’ front doors. You will pay slightly more with the delivery free and tip, but you won’t be tempted to buy impulsively. In addition, you won’t waste time or gas driving to the store.