Despite the complexities of our ‘wants’ in our daily living, we need to stop and rethink our values, particularly those related to money. We need to know what really matters to ourselves and our loved ones. We need to spend less than what we earn. Strive to maximize and enjoy the value of our earnings. Over time, we have saved more than you realize.
There’s so much around us to satisfy our never-ending wants. Technology and advertisements have succeeded to convince us to spend more each day. We tend to forget that money is hard-earned. Hence, we need to set our values in order to tailor-fit our lifestyle so that we spend and enjoy only on those things that really matter.
Let us cut back on our spending, in a sense, we are saving more. Let me list some ways and tips.
1- Stop impulsive spending. Ladies beware! Shopping at the mall, surfing online stores, and make unplanned purchases is a big NO. Your spending should always be planned and not spur-of-the-moment just to satisfy what you fancy.
2- Pay in cash. No to credit cards and debit cards! It is a wise move to pay always in cash. A cash buyer tends to be cautious, selective, and non-impulsive in all his purchases.
3- Track your daily and weekly spending. It is good money management to keep a record of what you spend on a daily and weekly basis. You tend to determine what are the essentials, recurring, and regular items to spend. Plus, a good way to budget.
4- Make a grocery list. It is nice doing grocery shopping, but it is a wise habit to draw up a list before going to the grocery. In this way, you know what is needed and stuff that you can forego. It will save you time, energy, and money if you have a list.
5-Do not stick to one brand. Though brand loyalty is a plus point in marketing, flexibility in choosing the brand is logical and practical. A wise buyer finds time to calculate his probable savings if he considers many brands to compare.
6- Take advantage of sale ads and promo. Plan your shopping list, and also grocery list, and take into account what’s on sale. A great deal of savings can be realized on marked-down items, and also on bundling schemes.
7- Plan your errands. Your personal trips to the bank, grocery, and other places for your daily needs and transactions need planning. You could save on time, gas, and other related expenses if you plan ahead, notwithstanding your energy and effort, too.
8- Make online payments. Pay your recurring monthly bills through an online payment system that will save you time and money. It will save you on postage, gas, transaction fees, and other charges.
To sum it all, the list is not meant to be exhaustive. Yet definitely, it drives you to save more while spending less. Practice the tips and strive to get the best value you can for each dollar you earn. It may be your jumpstart for a life-long journey of frugality.