Do you want to buy a car? Are you looking for tips that can help you save money in order to purchase a good car? To be honest, even the simplest cars on the market are relatively expensive which means that this is a type of investment that you should be careful with.
If you are sure that you need a car, but you don’t have money to buy one, it’s a good idea to start saving right away. Certain changes in your lifestyle in a combination with increased awareness about where your money go can help you achieve this goal.
- Find out how to save money to buy a car
- Learn more about the things that you can do to save money
- Discover a few unexpected expenses that are draining your budget
The list of tips we have prepared for you doesn’t require big sacrifices. If you are doing these things in a systematic way, you won’t notice a big difference in the way you are living and, in the end, you can afford to get a car. So, are you ready to learn how to save money for a car?
1. Stay away from online shopping (for a month)
According to the latest statistics, more and more people are spending money online in order to buy things that they actually don’t need. This has become a form of mindless spending that cost people a lot of money.
We are talking about impulsive purchases that provide a feeling of excitement that lasts for a short period of time. Since we are doing this in the virtual world, we are not truly aware of the cost of this habit.
When we say that you should stay away from online shopping, we mean avoiding online stores every other month. This is something that can help you save money. Do this for six months or more and you will notice the difference.
- People tend to spend money online on things that they usually don’t need
- Buying things online makes you forget the real cost of these products because you are finishing this process virtually
- Buy things online every other month
2. Try to clear your debts
It’s very difficult to save money for a car when you are already paying a lot of money for existing debts. So, one of the best things that you can do in situations like this is to clear your debts. According to experts, it’s better to start with the debt that has the highest interest rate, but the smallest amount.
Remember that sometimes you might need to take a car loan to buy a car. If you have debts that are not paid off, the bank might not approve a loan. So, even if you are not thinking about saving money in this way, you might be forced to think in this direction.
- Try to clear your debts
- Start with the loan that has the highest interest rate
- Paying off debts will improve your credit score which is important in case you are planning on taking a car loan
3. Sell your things
If you are like most people, then there’s a great chance that you have things sitting in your basement, garage or closets around your home that have not been used for ages. Is there a point in keeping your old desktop computer, when you have already bought a new one? Do you need a second TV in your bedroom?
Make a list of things that you want to get rid of, create descriptions and take some photos. The Internet is an excellent place where you can sell these things. Online marketplaces like eBay have proven to be helpful. Of course, you can use conventional garage sales too. All these things can help you get more money which you can save for a new car.
- Sell the things that you are not using
- Use the Internet to get the best deals
- You can also throw garage sales
4. Plan your next vacation carefully
While some people might think that they should forget about summer vacations when they are trying to save money for a car, the truth is that you can still go on vacation, but you will definitely need a more detailed plan. For instance, you might want to travel in the off-season.
Everything is cheaper even in the most popular holiday destinations when you are not going there when most people are going. But, the most important thing is that you will save a significant amount of money on accommodation. Of course, you can also make better plans for the meals and a few other things that can help you cut the expenses related to vacation.
- Go on vacation in the off-season
- Make better plans when it comes to meals
- Don’t try every new thing you will find there (if it costs you money)
5. Brew your own coffee
Have you developed a ritual in which you have to visit your local coffeehouse and have a cup of coffee there? We truly believe that you enjoy your time there, but is it really necessary to go there on a daily basis? If you love coffee, this means that you are drinking at least one cup of this beverage every day and this costs you money.
Buy a coffee machine or a simple pot to prepare your own coffee. In this way, you can cut the cost of this habit in half or even more. Preparing your own coffee can be fun and you can experiment with different tastes too.
- Don’t waste money in coffeehouses every day
- Get a pot or a coffee machine and make your own coffee
- You can try new types of coffee whenever you want
6. Prepare your meals at home
Dining out and purchasing fast food might seem like a practice that can save you a lot of time and money, but the truth is that you are practically wasting money in this way. Visit the local grocery store and get the ingredients you need to prepare meals.
If you are not a great cook, there are tons of recipes for meals that are very easy to prepare. Do some research and you will definitely find some healthy and tasty recipes for meals that you can prepare in no time. Even in case you start preparing food for two days in a week, you will still be able to save money that you can use to purchase a car.
- Avoid fast food establishments and restaurants for a while
- This is a practice that will improve your health too
- Focus on preparing meals that don’t require special knowledge in case you are not a great cook
7. Get a savings jar
Some might say that using a saving jar or a piggy bank is a childish thing to do, but this practice can also contribute to the realization of your dream – purchasing a car. In case you have extra cash or coins, put them in your savings jar.
Before you purchase an item like this, check whether it’s easy to pull your money out. Use one with an extra layer of protection in order to avoid temptation. Don’t forget that there are many YouTube videos that can help you make your own saving jar.
- This is a tip that can help you save money in the long run
- You can buy or create your own saving jar
- Search for ones that have an extra layer of protection
8. Forget the cinema for some time
We are not saying that you should completely avoid going to the cinemas, but is it really necessary to go to the premieres of all blockbusters? If you are a movie fan, you can always watch movies and TV shows on cable TV. What’s even better, you can cancel your cable TV subscription and purchase a streaming package offered by companies like HBO, Netflix, Hulu or Amazon Prime.
These companies offer much cheaper subscription packages and you can get access to hundreds of movies and TV shows. Don’t forget that with their help, you can watch movies whenever you want. You can also rewind them, pause them, watch them as many times as you want, etc.
- Start visiting cinemas less frequently
- Watch movies on your cable TV
- Replace your cable TV with a video streaming service to save even more money
9. Shop in discount stores
The good news is that we are living in a world where almost everyone has easy access to at least one discount store. Stores like these ones are places where you can find the most commonly used items but at much lower prices. The trick here is to buy more because you will save more money in this way.
Make a plan and visit these stores once a week and buy the things you will need for the next week. You can use your car to go there, but if you don’t have a car (after all, this is a guide for those who want to save money for a car), you can ask your friends for help or use public transportation.
- Use popular discount stores
- Get advantage of their special offers
- Visit these stores on a weekly basis
10. Save on clothes
Buying new clothes is an expensive hobby and it looks like there are too many people that enjoy this hobby. If you are one of them and you want to save money, then you should try to stay with your existing wardrobe for a while. There’s a good chance that your clothes are in good shape and that you actually don’t need new ones in the next few months.
If you believe that you must have to buy certain pieces of clothing, make sure that the new ones match your existing clothes. In this way, you can make more combinations without buying too many new clothes.
- Use your existing wardrobe
- If you must buy clothes, purchase ones that match your existing wardrobe
- Look for discount clothing stores or special discounts in ordinary stores
11. Rely on cash
This might sound a little bit odd to some of our readers, but the fact is that if you want to save money for a car or anything else, using cash can help you. While it’s true that using cash is less convenient than using a credit card, it’s also good on your pocket.
When people use credit cards, they usually spend more. Another thing that is helpful in situations like this is that you will be forced to visit ATMs to get cash and this will slow down your spending. Before you make a trip to the ATM, you will reconsider your next purchase.
- People tend to spend less when they use cash
- Using cash makes you think twice before buying something
- Credit card purchases often come with fees and interests
12. Cancel your gym membership
Some of you might say that this can have a serious impact on their health, but the truth is that you can stay fit even if you cancel your expensive membership at the local gym. In case you are trying to save money for a car, exercising at home or jogging outside with family, friends or like-minded people instead of paying for a costly gym membership is a great move.
If you cancel your gym membership you can end up saving hundreds of Euros. In addition, you can also save time because you won’t have to go to the gym. In some cases, when the gym is located far from people’s homes, they are also spending a lot of money to travel there.
- Replace your gym with exercising at home
- You can also jog or walk outside
- It is possible to save hundreds of Euros per year in this way
13. Reduce the cost of commuting
Did you know that transportation is one of the biggest expenses for modern people? Surely, owning a car and driving it in the best possible way can save you money, but until then you have to figure out how to save money. According to many experts, there are a few ways in which you can reduce the cost of commuting.
First of all, you can try to walk more. You can also use a bicycle to get from one place to another and this is a type of transportation that won’t cost you a dime. There are also many public transportation deals for those who use services like this on a regular basis. Consider office carpool as an option too.
- Cut the cost of transportation by considering different options
- Use public transportation discounts
- Consider office carpool
14. Take advantage of the gig economy
Did you know that the high economy is on the rise? This trend has started two decades ago and it seems that this specific form of economy is growing and expanding every year. There are many individuals and businesses that need a helping hand from time to time and they are willing to pay good money for that. You can save money for your car in no time if you find the right gigs.
The best way to do this is to use the Internet. This part-time job or a simple gig that you can use to earn and save money doesn’t have to be a virtual job. However, according to many people, this is one of the simplest and most convenient ways to earn extra money. If you have a special skill or talent, it’s very likely that there is someone on the World Wide Web that is willing to pay for your help.
It’s a good idea to visit freelance sites like Fiverr, Upwork or Guru to find jobs. Writing, accounting, programming and many other things that can be done virtually are some of the things that you can offer to clients around the world.
- Get a second job/gig
- Use the Internet to find gigs like this
- With the help of freelance sites, you will get access to the global gig market
15. Make a savings plan
This advice makes sense, right? If you want to save money for a car, you need a savings plan. Write down all the spending you have per month. Include everything – both small and big purchases and monthly utility bills.
A practice like this will make you be more realistic about what you can expect in the future, but it will also help you figure out how to save some money fast. Once you do this, you can set realistic goals about how much money you want to save for a car. Do you need 10.000 Euros in one year?
Is this something that you can achieve without making radical changes in your lifestyle? Be honest and realistic if you want to succeed. Now that you know these things, it’s time to include some methods that can help you with this goal. You don’t need a detailed savings plan, but you need some basic guidance in it. The main point is to stay focused on your goals.
- Determine your monthly expenses
- Set realistic goals
- Stick to the savings plan
