12 July 2011
There are many factors around that prevent us from saving a substantial sum of money, allotted on a regular basis, usually for some specific purpose only, our focus is only for a few things that bother our daily lives: Food, shelter, dress and other materials to keep us going. Here are a handful of tips based on experience that you can try or add improvements.
Resistance. What our eyes see are innocuous in physical appearance but disturbing in our thinking on how to resist in buying, especially if we are holding a certain amount of money. Prove to yourself that you have self-control and that buying it is unnecessary if you make it a habit, the indulgence to buy will turn into a pure care and moderation.
Avoid Comparing. Admittedly, we are painfully desirous of another's advantages, we tried to compare what we have to others. If this will always be our prevailing attitude, we will end up in an unhealthy race of buying our surplus and left us bankrupt without saving any cents. Just be contented of what you are earning and what you can buy from your hard-earned money.
Be Frugal. We are hurt being told of being thrifty, sparing left over to extend another day. There is nothing wrong from being frugal because you're just being wise and economical in spending your money. It is healthy and a proud undertaking that you have able to keep some of your earnings without putting your health at risk. Medicines have generics which you could prefer to buy or sometimes in our own backyard are herbs of equal dosage. Recycle leftover foods that you might discover another recipe to be served on your table. Eat simple and healthy foods if you can, it works for your health and a stout pocket by your side.
Be Selective. We live in a world of many choices and we need to select and paired it down to the best. Even in buying items, we need to buy high-quality items at very affordable prices. Buy only essential things. Be practical in spending your money. Safeguarding the importance of your hard-earned money is safeguarding your hard work and effort. Start disciplining in buying things. Just be creative at spending in your own leisure time.
Scheduling. Always invest in time, what I mean is to make a plan in everything, from the needs of going out for buying foods, that it will be practical for a bulk buying on payday to avoid frequent travels and cutting transportation cost or fuel consumption on your end. Make it a habit to buy some foods or items in the local markets which are only a walking distance from home, you will not only enjoy the neighborhood's greetings as you pass by, but you invest also in your own time of physical fitness by walking.
Putting Aside. We have so many bills to pay and we don't want to be short in our budget when all dues come to place, sometimes there are unexpected expenses that we have to shoulder from time to time and the best strategy to avoid this is to have an envelope or anything that will serve as a holder of your extra earned money for a day or on payday and to keep it there for a while until the next payment of bills, for this you will have peace of mind and worry-free from any shortcomings.
Getting Extra Income. Nowadays, you need to know your hidden talent or skills that will give you an extra income. If you need to learn other skills, all you need to do is to get a free online tutorial or from any company who is willing to mold your skills and learning new skills will help you in earning and deal with money challenged life.
Investing. There are many banks accepting any small amount that could return an interest. Investing in a stock market if you have the guts to go along with its flow of trends, if not, ask an expert to help you. Change the practice of dropping your money into the piggy bank, it will not grow. Put your money in a well-stabilized bank that returns good interest rates and your future would be in good hands.