How to Save Money In 9 Steps
Everything is getting more and more expensive, regardless of things we need in our lives, that are food, beverages, and services we need to pay for, such as getting a car wash, repairing our computers or having a dental check-up, or things we desire but do not necessarily need in our lives, such as expensive clothing, watching a movie in the cinema, and so on. Perhaps you realise that it is time you start saving money and use it for more important things, say to buy a new house of your own, or for traveling. And if you are planning to do something, here are some ways you could do to save money.
1. Track down all your expenses.
Sometimes when we buy things, we never realise how much we had spent until the end of the day when we check our wallet or when the card bills arrive. If you start to adopt the habit of tracking all of your expenses, you’ll start reducing the amount of money you spend in a day. It could be a tedious task, but in the end, you are only helping yourself.
2. Set a monthly budet.
Whether you have your own job or you are still young and still get your “allowance” from your parents, it is important to know how to set a monthly budget for yourself. You should not just blindly spend however much you want because, in the end, you will regret owning too many things. Set a budget and plan your expense wisely. Focus on the priorities first, then only leave an amount of money for things you want.
3. Reuse your things instead of buying new ones.
When you need something, you tend to add the item to your shopping list and have it purchased the next time you go shopping. But what you could do instead is to reuse the things that could be useful in your situation. Sometimes you could even DIY things instead of getting a brand new one. They might even work out better than you expect.
4. Use a shopping list consistently.
If you do not have the habit of writing down a shopping list before you head out shopping, then that might be the reason why your expenses are always over the top. Having a shopping list is more important than you think. It might make you seem like an old lady buying groceries in a supermarket, but you could write one down on your phone instead of a paper to make it less awkward. Having a list written down will allow you to think twice before wanting to purchase something, and it also prevents you from over purchasing.
5. Try to avoid eating out.
Eating out nowadays is extremely expensive. Luxurious diners are one thing, but even casual restaurants are ridiculously high in price for what they offer, and plus, the food and environment are not even that clean, you never know what happens behind the kitchen doors. Cooking yourself is a great alternative. It is healthier, cleaner, and definitely cheaper. One problem with this is it often takes up too much time and it is too much of a hassle anyway. If that is the case for you, you could try meal prepping. You just need to sacrifice one day doing all the job.
6. Digitise things.
Things are getting so expensive these days, even the most common thing that we use every day: stationery. You’d probably been to a stationary and seen the prices of books and magazines, writing utensils (pens and papers) and so on. Something you can do to reduce the cost of this part of your life is to digitise things. Use e-books rather than an actual book. Use the notes on your phone. Send emails rather than letters. Use a planner app on your phone instead of an actual one. By utilising your devices you’ll realise this can save you tons of money.
7. Choose quality, not quantity.
We are all usually very easily hypnotised by a product of a cheaper price or buying in bulk as it worth more. But we also forget how a cheaper product has a shorter lifespan, or you might need to use something that you buy in bulk, and this all leads to money wastage. When you are trying to save money, remember to focus on the quality of the item. Not only would it last you longer, but you would also think more thoroughly before purchasing it.
8. Carpool or use public transport more often.
Cars are already very expensive on their own, but what’s worse is the price of gas. A lot of people commute to their jobs or colleges in their own cars on their own, and the distance from their house to where they are heading is pretty far as well. The best thing to do is, of course, to use public transport, as it is also great for the environment. But if you do not feel safe taking public transport, you can try carpooling with your colleagues or friends who live nearby.
9. Quit online shopping.
Online shopping can be fun, cheap, and also convenient, but it is a huge enemy of your wallet. Just because you can do it in the comfort of your own home doesn’t mean they are a better choice. Often times when we buy things online we never really think it through, whereas when we are in the actual store, we get to try it on and have some time to process through in our head, whether we really want the item or not. Just get rid of all your shopping apps or websites and you are one step forward in saving money!
So, these are the 9 points that will definitely be beneficial for you if you are planning to save money to improve your life. Saving your money does not only train you to plan things better in the future, with it you are also reducing the clutter in your house. No matter what the reason you are doing this for, just know that you will be smarter in your choices in the future.
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