It can be hard to decide when you should buy the cheapest thing possible and when you should loosen the purse strings. No one wants to waste money, but it is often difficult to tell when something is worth paying extra. A lot of these decisions are personal, but there are some general rules to keep in mind.
Your Health Matters
Healthcare is expensive, and chronic illness can devastate your financial health just as quickly as it does your physical health. Being able to set aside funds for regular dental appointments and general healthcare is important. If you have any preexisting conditions, make it a priority to stay compliant with your treatment plan. If doing so is out of your budget, have an honest talk with your doctor. They can often point you to resources to help with the cost of medications.
Healthy eating is important for your long-term health as well. There is no need to splurge on organic fruits and vegetables. Adding fresh or frozen fruits and vegetables to your diet will benefit your health. Frozen is often more affordable than fresh, and because the fruits and vegetables are frozen at their peak of ripeness, they can have higher levels of important nutrients. Canned fruits and vegetables should be used as a last resort, as the processing makes it difficult to retain nutrients, and the sodium level in these products is often high.
Education is Important
Nothing compares to a college degree when it comes to boosting your lifetime earning potential. It can be easy to look at the price tag of a four-year degree and decide it isn’t worth it, but making smart choices can make college a smart, affordable choice. The money you invest will be repaid many times over during your years of work. Attending a local community college while living at home is a great way to start your college career. You can often take one to two years of classes at these schools and transfer to a university later on. Planning ahead ensures that your credits will transfer. Even a four-year degree is not out of reach. Taking out private student loans allows you to pay for school regardless of where you plan to attend. Private student loans help relieve the pressure of coming up with the money for tuition each semester, making it easier to focus on your studies.
Not Worth the Expense
If you are wondering where you should save your money, look in your pocket. There is a good chance you are paying too much for your phone and service. If your device is paid off, holding onto it until it needs to be replaced, rather than trading every two years, is a great way to save money. You can often lower your monthly bill by calling your service provider. They can look at how you use your phone, including your data needs, and can often find a plan that will lower your bill. Another expense that is not worth it, is anything you don’t use regularly. This can be anything from a gym membership to your vehicle. If you aren’t using something at least once a week, but are paying for it, take a moment to consider how your life would change if you gave it up. Chances are, you wouldn’t miss it at all.