A couple of days ago I was on a trip and I overheard two friends sharing their financial struggles. As I was listening to all the issues faced, difficulties paying for grocery, the need for a bigger house but couldn’t afford the mortgage, challenges with paying for daycare and savings for the future. They have been friends forever. Bouncing on those hot topics, I wanted to share the same advice I recommended.
Takeaways:5 Unusual Ways To Save Money
When people come together there’s no limit as to what they can achieve. Departing from our individual mindset to a more collaborative, community-oriented mindset change radically our lives. Leveraging that belief, here are 5 unusual ways to save money
- Grocery: Group grocery shopping, buying items together will help them save between 5% to 40%.
- Carpooling: they live pretty close to each other and work at the same office park and their eldest kids go to the same school.
- House: Co-buying, you can buy a big house then apply for a permit to modify it. They can share all bills (wifi, light, mortgage, water, etc..). Because it is the same house while maintaining complete privacy.
- Daycare: Join forces and hire a nanny to take care of your young kids. The nanny could be a family member or an external.
- Savings circle: money save can be put in a joint account that yields interest.
In essence, you can start with small steps. Indeed, incept with carpooling first, to drop off and pick up the kids from school and commuting to work. Then, grocery group shopping, on weekends. Finally, you can plan to buy a house together.