California is the most populated state in America. With huge cities and beautiful coastal towns, it can be easy to get carried away and spend over your budget when sampling the hundreds of restaurants and activities you can partake in while in the state.
Venice Beach is one of the most popular destinations for Californians and other holidaymakers looking to get closer to the ocean and live a beach lifestyle. However, saving money can be difficult if you live in such a beautiful area, especially when you are encouraged to get out and sample the beaches, a spot of surfing or a rooftop bar.
Don’t worry; we’re here to tell you can still do all these things – and save money!
Long-term savings
Some people try to put their money into volatile assets in the short term, trying to get rich quickly, which rarely pays off. It’s always a good idea to strike a balance when investing your money.
For example, some people will invest their money into savings bonds, which help yield incremental returns – usually just above inflation – for 30 years.
This helps save you money in the long run, as you can be assured that you will receive a handsome payout in a few decades. However, if you cash your savings bond in within the first five years, you could be subject to penalties, so it is always a good idea to check the terms to see if it is a suitable product for you.
Long-term savings are not restricted to savings bonds; you can also invest in other products such as savings accounts, but it is always best to read up thoroughly and take advice before you do so.
Savings start at home
Although it can be nice to wander down to the beach and treat yourself to a nice breakfast or a coffee, buying the products and having breakfast before you leave your house is often much cheaper.
That way, you will save yourself money but you will also be able to stroll down the promenade, breathe in the sea air and take in the fantastic scenery without putting down $20 a day on coffee and a meal, which quickly adds up. You will soon notice how much money you save by implementing this small change.
Cost-effective travel
Strolling down the promenade is an excellent, free way to get fresh air. However, if you want to cover more ground and explore other parts of Venice Beach, why not take public transport or purchase a bike?
As we all know, it can get very congested at peak times in Venice Beach, so there’s not much point being sat in traffic when you could be out there getting fresh air, exercising and saving money all at the same time. If you have a car, using it as seldom as possible is a great way to save money on gas and travel.
Eat in with friends
If you enjoy going out to eat with friends and family, then you will know all about this. Given the financial impact of dining out just a few times a week, this can be one of the key areas where you can save money while living in Venice Beach.
Plant Food + Wine is just one of the many establishments beginning to make a name for themselves in Venice Beach. We appreciate this could have fallen into our first category, but eating out can often be the primary way you can save money, so we thought we’d give it its own section.
Organizing dinner parties and taking turns cooking meals for your friends can be a fantastic way to stay social and keep costs down. Of course, we aren’t saying you should never visit your favorite restaurant, but if you do it two or three times a month instead of two or three times a week, you will soon notice the dollars stacking up.
Conclusion
You don’t have to live in Venice Beach, either – many of the money-saving tips we have discussed today can be applied wherever you live. There’s not one enormous change you can make to save money, other than when you stop drinking alcohol or smoking cigarettes. The vast majority of changes are small, over an extended period, and you will see the savings pile up over this time.
Maintaining your social life, staying active and remaining financially healthy is the most important balance you can find. Few of us can achieve this, but it can lead to a rich and fulfilling life when executed correctly.
