We all have seen them. Those great and wonderful green living items that cost as much as a small used car. They are bound to improve our lives and our homes. A common item that falls into this category is solar power. Solar panels and installation are not cheap. Though saving for the big green item is a great idea and a worthwhile endeavor, save responsibly. Here are a few ways to start saving responsibly to get the green lifestyle you want to have.
Subtract and Save
Too often we see individuals who use a financing method that makes us cringe. They sit down with their budget and we see them add in a savings amount as a new bill or “debt.” Though it really is not adding in a debt it does put the same stress on individuals. They feel that because it is in the budget they have to pay into it. There are evident disadvantages to this but one of the biggest ones is when individuals have to start trimming the budget. The first thing to go is, you guessed it, the savings.
Our solution is simple. Do not add a savings amount as a new “debt” that will just be cut later. Subtract from bills and save. If you have a bill that you pay on a normal basis such as electricity, start there. You know you can pay the electricity bill so start reducing the bill. Each time the bill is under the amount you have allotted for the payment, take the difference and put it into savings. Do this with other bills as well. You will be surprised how fast the cash adds up.
At Home Savings
Start an at home savings plan. This has several benefits. The first benefit is emergencies. If the power is out for days at a time so are the ATM locations. You won’t be able to access your funds and if you think we are exaggerating just ask the victims of Katrina. Many individuals with thousands in the bank could not access their money for a tank of gas much less for food and shelter. They had to wait until they could get out of the area and for some that meant hungry days, nights and injuries. If you havea savings at home you will have cash on hand if an emergency arises but also will be able to keep tabs on your savings for the big green item.
Check Sales
If the big green item you are saving for is $500 and you have saved $350 go ahead and start shopping around. Do not pay full retail just because that was the price for the item. Look for sales, specials, discounts and other ways to save on the original ticket price of the item. You may be surprised to find that someone is selling the same item for much less than the original ticket price. You get the big green item sooner and you pay less overall.
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