Is Renting Breaking Your Budget?

shopping

With the Internet making a lot of things easier for people, renting stuff has never been easier either. Millennials are gearing more toward renting than buying. Most people nowadays don’t feel the need to buy stuff when they can rent it when they need it.

Renting isn’t limited to houses and cars these days. If you have something expensive, chances are it can be rented. Musical instruments and electronics are the things that will come to your mind if I tell you to think of something after the obvious rental options. But, there are other things as well.

Most of the time, the reason for the service is valid and means well. But, while it is a good business opportunity, what does it mean for YOU, the consumer?

With social media, our lives have become more public than it has ever been. A lot of people feel the pressure to maintain a lifestyle just for the sake of it, rather than basing it off of their earning. This pressure that the masses feel has also become a business opportunity for the business minds.

The FOMO (fear of missing out) is real for many people. Because of this and the want to maintain a certain stature online, people resort to all sorts of shenanigans. One of them is renting. While this is not as bad as buying stuff for just the sake of it, it still affects your bank depending on the rate at which you keep renting stuff.

If you see a pattern of renting, then you need to stop and question your spending. With buying you have the option of reselling the stuff, most of the time. That’s not the case with renting though, so the returns are pretty limited to the use.

Here are two important things you should ask yourself to make sure that you are swiping your card for more necessities than wants

  • The purpose and intent of the item – If it is a short term stay at a place or a vehicle to get around on a vacation, it is an obvious need because you can’t go around buying properties and vehicles for short term use.

    On the other hand, is it a mansion for a party? While the same you-can’t-keep-buying-properties logic works here, the intend is at fault. Is renting a mansion really necessary for a party? You might want to look for other cheaper options.
  • Is social media pictures a huge part of the decision? – If one of the major thoughts ruling your mind while making a decision is whether the pictures will look good on social media, then you might want to re-evaluate. 

Unless you are an online influencer and your pictures are your source of income, renting something more expensive because it will look better on the gram is not exactly the smartest of ideas you are ever going to have.

Final Thoughts

While renting makes the impact lighter on our wallet, making it a habit is detrimental in the long run. Just because it is easy to get, doesn’t mean it is worth it. Be sure of what you need and how you are going to use it.

What is the Most Effective Yet Cheapest Tool for Marketing Small Businesses

marketing team

This post is aimed at empowering you to apply a set of free small business marketing ideas without breaking the bank.  

It is a very good thing to have an attractive product or service, but it will never be enough to make your business more sellable unless your potential customers get to know about it. 

That is precisely where small business marketing comes in. Having said that, small business marketing is not an extremely tough thing to do. It does not take a rocket scientist to figure that out. But neither is there a magical marketing wand that you could wave to accomplish instantaneous marketing success or one-size-fits-all solution. 

Unfortunately, it is the most important challenge facing small business owners. And to make things worse, marketing success is not guaranteed. 

Every business is different and every customer is different, so figuring out which method or idea is going to turn it around for each company is anything but impossible. Regardless of the business, you are in, you need radical marketing strategies to take home a bigger pie of the market share. 

If you are competing with bigger brands in the race to get noticed, you need to think of resourceful marketing ideas such as word of mouth marketing that can help you make a huge impact on a shoestring budget. Your employees are a big asset. Happy employees who rejoice in what their company has to offer and take pride in it are a good sign for potential customers. They bring in more business.

For small business owners, who are prepared to (get their hands dirty) build and maintain a solid platform for marketing, there is an impressive collection of free creative marketing ideas, tips, and tricks to help you achieve long-term success in your marketing efforts. 

There are a lot of channels that don’t even require you to go the extra mile to build a following that can turn into profit. You can use social media to build a personal brand if you don’t even have the resources to use social media to your business’ benefit. You don’t need a lot. Share things about your life, about what you do with the people online. Talk about your brand or business, but don’t push it.

This helps you make a genuine relationship with people and they are happy to turn into customers. When the customer trusts you and your product or service, then the customer is a loyal customer. And one loyal customer is worth 10 undecided ones because when your competition bangs on your door, this one person is going to stay while others leave.

Final Thoughts

People are the most effective yet the cheapest source of marketing you can get. You have to learn to use it to your benefit. Making connections is the first and foremost, business comes second.