When it comes to budgeting, it’s always good to have a long-term plan. By investing cleverly, and in quality, you often save money over time because the item is likely to last longer and provide a better result.
Here are 7 such investment products that will save you money in the long run:
1. Reusable water bottles
While it’s convenient to grab a bottle of water at the checkout, these little plastic bottles are not only adding to our enormous landfills or ending up in the ocean, but are an unnecessary expense. A good-quality reusable water bottle can be refilled and kept on your desk or in your car, and will save you purchasing water every time you’re thirsty.
2. Contract-free cell phone
Your provider wants to offer you the latest state-of-the-art cell phone at what might seem like a great deal, but their goal is to lock you into a contract that will eventually give them all their money back, and then some. Before you get taken in by the latest offer, read through the terms and conditions carefully. To save money, rather consider a cheaper phone that you purchase upfront and then buy data on a month-to-month basis, cutting out any extra fees or added costs that you might not be aware of.
3. Coffee machine or Sodastream
If you are a coffee drinker or like to grab a cooldrink from the corner shop, you may find yourself in the routine of purchasing a few every day. It may seem like a small amount to pay for a good cup of coffee or sugar rush, but it adds up. If you invest in a coffee machine or Sodastream, and are able to make your own at home, you are ultimately going to make back the money you spent in no time.
4. LED light bulbs
The higher price of these bulbs might have you reaching for the less expensive option, but LED light bulbs are worth the extra cost – particularly in winter when the lights are on for longer. They last up to 10 times more than regular bulbs and use about a sixth of the electricity that a halogen bulb uses, so you save money on electricity as well.
7. Rechargeable batteries
We use many batteries in our daily lives – remote controls, toys, wall clocks, cordless phones, wireless mice and keyboards. Investing in rechargeable batteries will cost more than a pack of alkaline ones, but you won’t be buying them so often, as you won’t need to replace them for several years.
8. Low-flow shower heads
Paying upfront to replace your shower heads with low-flow versions may seem like an unnecessary expense, but they can significantly reduce the amount of water you and your family use when showering, ultimately saving you money on water bills. They also use less hot water, reducing your electricity usage.
The information contained in this article is for information purposes only and does not constitute professional advice.
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