If you’re like most people, you’re pinching pennies wherever you can. That’s not always a good idea. Sara Noel is the creator of the website FrugalVillage.com, and she says that spending a little extra cash on the following three things will save you money in the long run:
- Gym memberships. According to the Centers for Disease Control, every dollar spent on fitness saves an average of five dollars in medical expenses – that is, of course, if you actually go to the gym. If you’re someone who has a history of joining and then never making an appearance, trypay-as-you-go classes. Or schedule a time to work out with a friend. The “accountability factor” of those things makes you more likely to follow through.
- A good mattress. Researchers at the Kovacs Foundation in Spain found that sleeping on a high quality mattress was more effective at reducing back pain than many medical treatments. Also, nine out of 10 people who suffered from insomnia and other sleep problems showed improvement when they switched to a better mattress.
- Take vacations - and enjoy a few nights out, too! Ryan Howell is a professor of psychology at San Francisco State University. He says that money spent on experiences - like vacations or theater tickets - brings you more happiness than cash dropped on material goods. A study of airline passengers found that over 80% of people returning from vacation performed better at work. In fact, some experts say that every dollar spent on a vacation returns three dollars in productivity.
Bottom line? Sometimes a penny spent is a penny earned. Even if you’re on a tight budget, getting rest and recreation pays you back, big time.
