Have you ever been to dinner with friends and decided to split dessert because no one wants to eat a whole piece of pie? Maybe it was a pizza that you shared. Maybe someone had a coupon for a free entrée when you purchased another so you split the cost of the paid entrée. There’s no question that splitting the cost of something is cheaper than paying for the whole thing yourself. Splitting the cost also works for larger purchases. Here are a few ideas to get you thinking about ways you can afford big-ticket items:
1. How large is your yard? Is it worth buying a lawn mower when it only takes you fifteen minutes to mow the lawn? Why not split the cost of a mower with a friend or family member? Part of your agreement could include contributing a small amount of money monthly to a piggy bank to cover the cost of any repairs or maintenance that is needed. And each of you can be required to leave the gas tank full (if you use a gas mower) after you mow your lawn. Set up a mowing schedule so you don’t find yourselves wanting to mow at the same time.
2. Need extra storage space but can’t afford to rent a whole storage unit? Why not share the cost with someone else. With so many people living in townhomes and condominiums these days, lots of us have a problem knowing where to put everything. Holiday decorations, sports equipment, and other seasonal items are perfect for keeping off-site in a storage unit.
3. Weddings are another opportunity to split the cost. If the couple you’d like to buy for have an expensive item or two on their registry, gather a group who are willing to share the cost of the gift. Or pool your resources to treat the couple to their honeymoon suite. It’s a gift they’ll never forget. But be sure you arrange it in advance.
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4. Take a much-needed night away by splitting the cost of accommodations with another family. Many vacation homes or cabins have multiple bedrooms and bathrooms that allow several people to stay in the same location. Also, there are owners of large homes who have been hit hard by the recent recession and are renting out their homes as a way to avoid losing the home. You might be able to get a very good rental rate.
See what ideas you can come up with for splitting costs. You’ll not only save money, but also build good relationships with the people around you.