Frugal or cheap, which one is it? Even though both words are usually seen as basically the same in the eyes of some people, there is often a vast difference in connotations when you are actually talking about being frugal. Typically, when people refer to being cheap, they are normally talking about only buying items that have little to no value for a very low price. On the other hand, when you talk about being frugal, you are usually referring to being very strategic and methodical about spending the money that you have in your possession. Whether you are dealing with millions of dollars in a bank account or one hundred dollars in your savings account, you can be frugal with both.
That being said, if you have money left over from all of the expenses that you pay at the end of the month, you can either blow it on paying for anything that you want or you can make that money grow. It really does not matter if it is an immediate need or one that can wait for a while, you can take the leftovers and spend it in a way that can stretch it even further. That being said, here are four ways that you can spend the remaining balance of your check economically.
1. Invest in Penny Stocks
Even though you may not have a lot of money left over from your paycheck at the end of the month, you can still take advantage of virtually any opportunity to make investments. While you may not have large sums available to buy stock in popular giant corporations like Walmart or Sams, you should look into penny stocks since they are investments that can be made with as little as $5 based on the broker that will be handling your trades. So, if you have $500 dollars leftover from your check that you want to grow, you may take this set amount to purchase 100 shares of the best stocks under 5.
2. Buy Disposable Goods in Bulk
The money that is left over from your pay check can be used to get ahead in a number of different ways. You can even save big on many common household items when you know what you need to buy to keep the household running smoothly. For instance, toilet paper, paper towels, dishwashing liquid are all disposable goods that the family has to buy continuously to stay stocked. These costs can add up quickly when you are using the food bill to pay for these items with each check. To save money in this area, you should buy these disposable items in bulk. One of the best times to cut the cost of disposable goods is when you can take some of the remaining funds from the check to buy these items in bulk at a fraction of the cost. In some cases, the frugal buyers will purchase enough disposal goods to last up to 6 months.
3. Invest in Car Repairs By Buying Spare Parts For Your Vehicle
Another way to use the money that you have leftover from your paycheck is to invest in spare parts. For instance, if you are already having problems with your vehicle and it needs to be repaired, you need to see where you can save money. In some cases, you may need to completely replace a muffler, a window switch on a back window, or other things that have to be repaired. To save money in these situations, you should look into buying spares from a local junkyard. You can make your job easier by finding cars with the same make and model to identify the parts that you need.
4. Be Mindful About Spending the Remaining in a Fruitful Way
When you want to stretch your paycheck to the max, you must pay close attention to the details. Every penny that you spend should be beneficial to you and your family. For instance, after you have paid all of the bills and expenses for the month, you may want to look into other needs that can be taken care of at that time. Rather than spending what’s left on junk foods, snacks, and a movie, you may want to buy some clothing items for the kids that they will need for the summer or winter seasons.
