The Top 4 Things You Should Spend Money On
, by Rob Kaufman
There's no doubt about it: saving money should always be a top priority. It can lead to earlier financial independence and security. It's also a great way to help ensure you stay out of debt and pay your bills on time.
However, there are some things you should spend money on. Not only because they're important to your way of life but also because they can end up saving you money down the line. Yes, that's right. Sometimes spending money can save you money. Wait. What?
Okay, here's what you should spend money on:
- Healthy Food
Many people skimp on the quality of the food they buy in order to save money. They go to the grocery store and try to get the best deals they can. That's a good thing unless the best deals are poor quality foods that aren't healthy.
If you think about it, buying unhealthy food can lower your energy level and make you feel sick. It can also lower your resistance to colds and illnesses. The healthier you eat, the better you and your family will feel. That means less money spent on doctor visits, over-the-counter medications, and magical "cures" you might find on the Internet.
Have you ever heard the saying, "Pennywise and dollar foolish"? It means you may save a few pennies but as a result, end up spending lots of dollars. Purchase higher-quality, healthy food and you'll not only feel better but might also save lots of money, too!
- Retirement
The earlier you start saving money for retirement, the more financially secure you can be when that time comes. To make that happen, you'll have to spend money on stocks, bonds and other investments. Basically, you'll need to start investing in your future now.
Most people who are decades (or even one decade) away from retirement think "Oh, I have plenty of time." That's not the case. The money you put away now needs to increase in value and that happens over time. The more time you give your money to "grow" the more you will have in retirement - if you invest wisely. So, if you want more money for tomorrow, you'll need to spend it today.
- Relaxation
Stress affects just about everyone. Similar to unhealthy food, stress affects health in a negative way. It also affects relationships, job performance and can affect decisions that might affect your finances. So, what are you supposed to do? You need to relax.
Now that doesn't mean to spend a few thousand dollars on a tropical vacation. What it does mean is to devote some money to activities that help reduce your stress. For instance, if exercise helps take down your stress level, a gym membership might be just what the doctor ordered. If making things out of clay brings a smile to your face and helps lower your blood pressure, then, take a pottery class. Spending money on reducing stress can save you money on the effects it can have on your health and your life.
- Money-Saving Gadgets
What? Spend money on gadgets when I'm trying to pay off debt? Again, when you spend money on things that save you money, there's more left to pay your bills and, hopefully, save.
For instance, a programmable thermostat that adjusts the temperature on its own can pay for itself in just a few months. If you buy bottled water, a water filter can save you hundreds of dollars a year. A low-flow showerhead reduces the amount of hot water you use while showering by as much as 30%. Instead of buying packages of batteries every few months, purchase rechargeable batteries that you can use repeatedly.
The list goes on and on. Take some time and go through your monthly bills. See what costs you the most (i.e. electric bills, cell phone, cable, etc.) and then search the Internet for "gadgets to save money on X" (where "X" is the high-cost bill). You'll definitely find more than one way to save yourself a lot of money by spending much less.
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Rob is a writer... of blogs, books and business. His financial investment experience combined with a long background in marketing credit protection services provides a source of information that helps fill the gaps on one's journey toward financial well-being. His goal is simple: The more people he can help, the better.