If you want to keep your expenditure down, then you will need to find inventive ways where you can cut corners (in a positive way) and not needlessly spend money. In today’s world of high inflation that is not reflected in most people’s yearly pay increase, there are tens of thousands of people that find themselves in a position where they need to be more frugal with their finances.
We will explain how you can hold onto your cash for a little bit longer by using some simple cash saving tactics by covering long-term cryptocurrency investments that prevent you from spending your savings, why you should never buy tech as soon as it is released into the market, and also we will talk about a cool device called xtra pc.
1. Invest in Cryptocurrency
One way to stop yourself from spending any savings you have is to make an investment in cryptocurrencies. At the moment crypto is difficult to spend so there is less chance you will dig into your savings. Plus, as virtual currencies such as Bitcoin start to reach their 100% surplus of coins available, the value will increase. Although cryptocurrencies are volatile, they do have a long-termvalue and this is exactly why so many Wall Street and London based hedge funds have invested heavily in areas such as BTC.
2. Delay Buying New Technology
Technology is something that is hard to say no to. We often see the latest piece of technology come out and we cannot help ourselves but to go out there and buy it even if we don’t need it. For example, people go crazy when the latest iPhone hits the market and if you are an early adopter, then you will also be paying the highest price possible. When it comes to upgrading again, the saleable valuable of your iPhone versus the price you paid will usually be 50% lower.
However, if you delay your investment in a new piece of technology, inevitably the initial starting price will begin to fall. High pricing is a pricing strategy used by all tech companies to maximise profits. They know people want their product and the best way to get the highest profits is start with the highest price and they know the early adopters will pay the high price.
Later, these companies will lower the price so those on the fence will be persuaded to buy the device. Next, prices further reduce usually because another competitor has released their ‘new version’ and to remain competitive the price needs to be reduced further.
Those that wait will always get a better saleable value in terms of percentage selling the device for around 70% of the price paid.
3. Use Technology To Help Delay Buying New Products
There are tons of ways to make sure your tech lasts longer. One of the best we have seen is the Xtra PC Test solution. This is a USB stick that plugs the Linux operating system into your laptop or desktop. It will give you a new operating system to learn while at the same time you will experience much faster speeds because the Linux operating system is not resource intensive i.e. it will take up less power and use less of your system resources to operate.