16 January, 2010

Personal Finance Tips: Live Large without Spending Big

As the weak economy drags on and on, you may have found yourself feeling less and less thrilled by the idea of scrimping and pinching pennies to make sure you stay above water financially. I know I’ve felt that way more than a few times in the past year or so.

Luckily, the Internet is teeming with tips for enjoying the finer things in life without parting with too much of your hard-earned money. Recent posts from Wise Bread offer tips for going on a vacation – without draining your bank account.

House Sitting and House Swaps

It’s no secret that hotel rooms and other vacation accommodations can set you back a pretty penny. But, if you go off the beaten path, they don’t have to cause bankruptcy.

  • House sitting: Offer your services as a house sitter in places you’re interested in visiting. Rely on word of mouth (tell your friends to tell their friends!), web sites like Craigslist.org and signs you post in areas where the wealthy are likely to shop (like upscale shopping centers). Be sure to offer references from people who can speak highly of your character and/or previous house sitting experience. Most people with nice digs will be happy to have someone looking out for their stuff when they’re out of town for a while.
  • House swaps: This method of traveling was famously employed in the movie The Holiday, and will likely work best if you live in a place people would want to visit. Search online for house swapping web sites where you can post the details of your abode and search for potential matches.
  • Apartment rentals: If neither of the other two options is practical for you, consider searching for other non-traditional accommodations. Many cities offer apartment rentals on a weekly basis, which are often much cheaper than hotels.

Eating on a Budget

One of the nicest things about opting for non-traditional housing is that you’re better able to save money on food. Consider the following tips:

  • Find the nearest grocery store: Before leaving home, learn where you can buy food. Eating out is massively expensive compared to cooking for yourself, so limit your restaurant trips.
  • Work the kitchen: Staying in a house or apartment probably means you’ll have access to a stove and a refrigerator. Take advantage of these, as they’ll keep you from blowing serious money on otherwise inexpensive foods like milk and coffee.
  • Think local: Your favorite foods might be expensive when you’re on the road, so take the opportunity to try cheaper, local favorites – it’s a great way to discover new tastes and save some green!
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