There are certain purchases that we make on a monthly basis that are necessary as far as food, gas, not to mention a little spending money to save your sanity, but there are also plenty of purchases that could be deemed unnecessary and are purely impulsive or just plain made to make life easier, even though it puts a strain on your wallet. There are some purchases, although quite a range in between, that can pay off in the long run and actually save you money and boost your bank account.
Programmable Coffee Maker
Starting with the cheapest option, for about $25 dollars for a coffee maker, not to mention buying your favorite coffee in bulk, plus a travel mug, for very little money up front you can save the $50 a month we spend in coffee by prepping and programming the night before and waking up to the smell of brewing coffee, only having to pour in your travel mug and be on your way. It may take you getting into a routine, but the amount of money you have will quickly add up, also being able to tweak the recipe to get to your liking.
Fitted Formal Wear
A new suit can not only boost your confidence, compared to the baggy old thing you used to have in your closet for the last decade, but it can also boost your income on a job interview. First impressions can be lasting, and wearing a nice fitted suit to a wedding or formal occasion can make it a little less of a headache to dress up. The price tag may not be as bad as you think, as you can catch a sale and get into a nice fitted suit for a few hundred dollars.
Up to Date Laptop
It’s amazing how quickly technology advances, and by dropping about $700, you can get a brand-new laptop that boots up in seconds and is able to handle multi applications, something that is important for not only those that work from home, but that also hold down a side business as well, whether it be blogging or event planning. I hung onto my laptop for years ago I should have upgraded, and now I never look back, unless this one probably is passed by in technology in a few years and will need to upgrade yet again, but that is the price you pay in keeping up in technology.
Owning Your Own Home
Now this may be quite the step up from a programmable coffee maker, but owning your home is where you really start to build equity, and gain money for the future. The housing market has climbed pretty high compared to a decade ago during the recession, but as you pay down every month and home values rise, you can really start to reduce the loan to value and have a little nest egg to use for down payment for your next house, or hold onto the equity to use for paying for a child’s wedding or put on an addition to the home.