As one of America’s top tourist destinations – especially for families – Ocean City, which stretches down the New Jersey coastline, has plenty to offer. However, it can be expensive for those who have switched full-time to Ocean City. Given the area generally caters for tourists, you can find that many of the establishments and restaurants have slightly higher prices than some of the other locations in rural New Jersey.
Today, we will give you tips and advice on how to cut back on the financial cost of living in Ocean City and see whether you can take in all of the fantastic coastal sights on the boardwalk while making savings and propping up your bottom line.
Investments
Some people invest their money so well that it is their sole source of income. We appreciate that this is often not the case for most people, and for many of us, it is a better idea to top up our earnings with investments. One of the most popular savings products today is savings bonds, issued by the Treasury.
There are two types of savings bonds that you can invest in directly through the Treasury’s website. You can take out a Series EE bond or a Series I bond. Although they have the same lifespan of 30 years, they work slightly differently, so it is best to ensure you perform appropriate market research before putting your cash into one of these types of products.
However, investments are broad; you can use plenty of other avenues. Ultimately, as long as you do the proper research and invest money you can afford, you could find yourself sitting on a bigger pile of savings than you originally had.
Dining in
Who doesn’t enjoy going for a meal with friends? Especially in Ocean City, where the fantastic views and the seafront are vibrant. You will, however, certainly notice the dent in your bank balance if you go out for meals multiple times a week.
However, you can bring the social setting closer to home if you and your friends take turns hosting dinner parties. Not only can you keep in touch and keep your social battery topped up, but you can save money by not dining out at a restaurant.
We appreciate that if you live in such a vibrant coastal area, you will be keen to be out as often as possible, sampling some local culture such as surfing and other beach activities.
Cook bulk amounts
Following our previous point, cooking in bulk can help you plan your meals for the next week and also help you budget your food spending. Some people will embark on three or four weekly shopping trips and not budget their costs.
It is a much better idea to do one big shop at a big retailer and use other things that will bring down costs, such as food coupons, to help slash your food spending. Once you cook in bulk, you have all of your meals arranged for the week, and if you do this for a few months, you will be pleasantly surprised at how your money begins to pile up.
Economic transport
Using public transport is an underappreciated way to travel. Although it can occasionally be time-consuming if the bus is running late, it is an infinitely cheaper way of travelling and far more beneficial for the environment.
If you’re looking to save costs when travelling, the bus isn’t the only option; you can also walk to places that are within a short distance, or if you want to buy yourself a bicycle, even if it is a sizeable cost, it will save you money in the long run and it will also boost your health.
Electric bikes and scooters are becoming more popular and can get you around quicker. However, they come with a much higher upfront cost, so it might not be the most economical option. In the long run, though, it could pay dividends.
Conclusion
Although Ocean City is a unique place for finding money-saving tips, it follows the same route as living frugally in many other regions worldwide. So long as you spend enough time paying attention to your finances and knowing where to save money and when to spend it, you can manage your wealth suitably.
If you start looking after the cents, the dollars will look after themselves. You can maximize what the Ocean City lifestyle offers by balancing seeing your friends, keeping active and operating within a budget.
