Money saving tips
You have a headache because there are so many things you want to spend money on and have not saved any money; your monthly salary is just enough to live by? Do not worry, with just a few of the extremely simple tips below, you can live a full life and save a large amount of money despite the limited budget.
1. Challenge with “zero spending days”
David, the founder of Zero Day Finance, uses a simple strategy to minimize his spending. The 26-year-old New Yorker committed himself to at least one “no spending” week. On this day, he tries to avoid buying anything, including morning coffee or small items in a convenience store.
David records his progress on this challenge on his personal blog, where he “collects” his non-spending days and motivates himself to adapt as much as possible within a week. By cutting his expenses, he has the motivation to save.
Since the start of the challenge six months ago, David has saved $ 18,432, cutting monthly spending from $ 4,700 to $ 3,370, or 33%.
2. Make a list of things you want to buy before shopping: Many people buy anything they see fit in supermarkets, shops without any prior calculations. However, after coming back home, they found themselves broke because they were too overspending.
To avoid this situation, you should make a list of things to buy before you go shopping and make sure you buy only those things. If you go to the supermarket to see some of the items are extremely eye-catching, consider their application, see if they are really necessary or not.
Also, find out in advance what companies are offering discount programs to purchase at promotion prices.
3. Use cash to pay instead of card:
With the popularity of ATM cards today, many people no longer have the habit of paying cash. Although card payments bring a lot of benefits, it makes it easy for you to spend more.
If you want to save, make a habit of always carrying a certain amount of cash and only spend within that money.
4. Do not overspend in the fun:
Entertainment after work is a good way to release stress, however you have to know what is reasonable spending. Going to a bar for a drink and then having dinner outside with friends can make you feel good at that moment, but it will leave you without any money at the end of the month.
To enjoy the moments of comfort without spending too much, choose to eat at home before going out or just go out for dinner without going to the bar.
5. Think carefully before making a payment
Cherie and Brian Lowe paid more than $ 127,000 in debt over four years by working to increase their income and reduce their spending. While there are many bigger factors contributing to their success, Cherie’s top-of-the-line money-saving tips are simple.
“Every time you prepare to pay at a grocery store, you need to look back at your shopping cart and find three to five items you do not need. You will save $ 5 to $ 10 each time you shop, “Cherie told CNBC Make It
This tactic can be applied to online purchases and direct purchases. It has the effect of creating the boundaries between getting items into the basket and actually buying them. That reduces the bills for you.