Being broke is terrible. It is bad for everyone. It really should be outlawed. Unfortunately, that would make far too many people outlaws. Come to think of it, that is a pretty bad idea. There are all kinds of bad ideas with regard to being broke. Many of those bad ideas are generated and accepted by the people who can least afford to fall for them. If you have some of those bad ideas knocking around your head, you could be your own worst enemy when it comes to beating broke.
One of those bad ideas is that being broke is your lot in life so you might as well accept it. But that is simply not true. Sometimes, the first step is to find the right kind of emergency loan so you can start the process of righting the ship. Installment loans direct lenders provide are better than your typical payday loan. Remember, you are looking for the kind of loan that gets you out of trouble and not the kind that gets you into deeper trouble. After you get your head above water, consider the following tips to help you spend in a way that actually makes you money:
You always save money when buying in bulk. That could make that Costco membership worth the small amount they charge. By sharing that membership, you share the savings. If you eat out for lunch every day, you can save a ton by bringing your own. The types of ingredients you need will cost a lot less in bulk. Just remember there is a reason you bought that membership. It was not to buy all the things you are used to in the same quantities. You need to be prepared to stock your pantry like you mean it.
You also need to have a clear purpose for your shopping. You are not shopping to help you mindlessly snack while you are on the couch watching Netflix. You are shopping to fuel your work. Fueling your work with economical and healthy lunches that you prepare yourself is a money-making enterprise and not the typical, annoying chore. You might also be helping your children succeed in school. Lack of a healthy lunch at school hurts children more than you think. This is not a political talking point, but an indisputable fact of the world. Don’t just mindlessly shop. Find a good shopping club and shop with a purpose.
Buy only What You Can Write Off
Even if you don’t itemize your taxes, you should make purchases as if you do. There is nothing wrong with buying that new computer. First, ask yourself how that computer will help pay for itself. Is it the tool you will use to create an ad-supported blog? Is it going to help with editing the photos you will license to a stock photo service?
The same question applies to kitchen gadgets. By all means, buy the bread machine. But take a few loaves to work to sell to your coworkers. This is perfectly acceptable in many places of work. Check with your supervisor before you do. You can also make snacks for people at your church and accept donations. The idea has nothing to do with getting rich. It has to do with you changing the way you think about making purchases. Don’t buy anything you can’t monetize and legitimately include in your taxes and learn about the tax code for families, businesses, and real estate. Being uneducated could literally cost you money while also hiding opportunities you didn’t know existed just because of failure to study up a little bit on your situation.
Some items will only be good for recycling after you use them. Intentionally limit those types of items. To the extent possible, only buy things you can resell to someone else at a later time. Learn to use reselling websites. When you resell a device, you help the environment and you can pocket the money from the sale or convert it to another item which you can later resell.
Unless your business is restoration and reselling, you will not make a lot of money by following these tips. But you will come a lot closer to making a profit if you buy bulk, stick with items you could write off as a business expense, and buy only items you can resell to someone else. Be sure that everything you purchase goes to work for you instead of the other way around.