This is a contributed post and do not necessarily reflect the opinions of Meet The Harris Family.
If you are looking for financial freedom, it makes sense to start watching every cent to ensure you are on the right track. But that’s not to say that you should never spend any money at all. In fact, there are many situations in life where it is worthwhile to invest in your future, and it will – usually – pay you back significantly. Today, we’re going to take a look at some of the reasons why it’s not always OK to be a skinflint – read on to find out more.
Food and drink
When you buy more product, you tend to save more money – particularly with food. Bulk buying can save you a huge amount of cash from your weekly shop, as well as helping you cut back on repeated car journeys to the grocery store. However, be careful that you only ever bulk buy the right kind of items. Fresh food will eventually go off, so focus your bulk buying on the types of food that will last – cereals, grains, and nuts.
Insurance and Home Services
Pretty much every insurer out there will offer you a much better deal if you are willing to pay it all up front. Check online and you can see you could be saving anything from 10-20%. It’s the same for the services you might to use at home. A lot of the new electricity suppliers are offering cheap deals to customers who pay up front, for example.
Home security
You can be the most careful household in the world with your money, but there’s still a chance that all your work could be undone by a criminal. Sadly, we all need to be aware that burglars, thieves, computer hackers and all kinds of other criminals could target your home. Sure, insurance might cover you, but then your premiums are likely to go up. The reality is that protecting your home with a good security system is one of the best investments you will make.
Lawyers
No one thinks they will ever need a lawyer – until they do. Let’s say you or your partner have an accident in a car or on a motorbike. If the accident isn’t your fault, then undoubtedly you will seek compensation. But how much you get as a settlement depends greatly on whether or not you are using personal injury lawyers. The insurance firm for the other party will do everything they can to avoid paying out, and without your own attorney watching your back, it can be tricky to get the settlement amount you actually deserve. Yes, it costs money – but ultimately it is worth it.
Home remodeling and upgrades
If you have the money to improve your home, go for it – doing so can add a lot to the value of your home. As long as you are careful to focus on the right areas, the return on investment can be huge. Updating old elements – such as doors, windows and siding – often has the best impact, and you should also seek to modernize areas like the kitchen or bathroom.
Do you have any other ideas? Why not share them in the comments below?
