Saving money isn’t always about saving. Sometimes you have to spend money to save it. This was a hard concept for me to understand for a while. I am not a spender. My husband struggled to get me to spend money even when it was needed. I am a saver and I hate spending money, but he is helping me to understand why it can be important sometimes.
There are a few things that you will want to spend money on as an investment so that you will save later. Some of these things could be a bit more expensive at first, but they save you so much more than you spend so it is worth it.
5 things to spend money on so you save money later
- Water Heater Blanket – Most cost around $50 at your local hardware store. Install it yourself and that is it! It helps your water heater to hold the heat in so it doesn’t run as much. This is especially important if your water heater is outside.
- Water Saving Shower Heads and Toilet – cost will depend on how many of these you have in your home, but the pay back happens within a few months. There is a way you can make your toilet a water saving toilet without the cost. Simply put a brick or a milk jug full of water in the tank.
- CFL’s – Switching over all you light bulbs will cost you around $70 and will save you much more than that in a year. They last longer than regular bulbs but do tend to be a bit less bright, so make sure you have what you need light wise as well.
- Cloth Diapers – while they cost more upfront this is one of the things that will save you the most. A full set of cloth diapers costs anywhere from $150-$500, but will save you thousands per child.
- Wholesale Club Memberships – these usually cost you about $50 a year and will save you hundreds to thousands each year. These places usually have the best price on milk, cheese, eggs, and baking supplies.
What do you spend money on now so you invest in savings later?