Intelligence For Your Life :: 3 Sure-Fire Money-Saving Tips

The newspaper headlines may scream about how we’re not saving any money, we’ll never be able to retire, and everything is more expensive than ever! But the truth is, as a society, we’ve become a lot more frugal. Here are some of the money-saving trends that the economists are seeing: 

  • First: We’re sick of cable TV. And by eliminating premium packages, and just having basic cable, you can save about $50-dollars a month. Get rid of cable completely and you could save $120-dollars a month. 5 million households currently have no cable services, and are considered "Zero TV" households. That’s double the amount from 5-years ago. But just because your house is “Zero-TV” doesn’t mean you have to miss out on your favorite shows. Almost everything is now available online or on apps like Hulu and Netflix, which cost about $10-dollars a month for streaming service. 
  • Another way we’re saving money: We’re not buying as many new cars. First of all, we’re keeping our cars longer, the average car on the road is 11-years old, whereas, in the past, people used to buy a new car every 5 years. But not anymore, which means the average person will now have four fewer cars in their lifetime. Also, more people are working and socializing from home over high-speed internet connections, and taking advantage of ride-sharing and car-sharing services like Zipcar. So, they don’t feel the need to buy a new car.
  • One final money-saving trend: We’re eating at home more often. A recent poll found that over 70-percent of us are cooking at home more often. So let’s do a little math: The average restaurant meal costs twice as much as a home-cooked meal. And we eat out about 5 times a week. So if we only gave up eating out half the time, we’d save over a-thousand dollars a year, per person. And we’d still get to enjoy a restaurant meal twice a week.