A good way to start the new week is by taking charge of your money! Many of us just keep buying without taking account of what the money is being spent on. Here are few money saving tips that could help you live your best financial life.
- Pay attention to where your money is going: Get a notepad and keep track of everything you spend. Like magic, the simple act of writing stuff down will often keep you from spending money. It also helps you to see exactly your money is going and allows you to make informed decisions about how much money you really need to live the life you want.
- Make a simple spending plan:
You won’t think of setting off on a long trip without a map or a travel plan. A spending plan is simply a map to help guide you to where youʼre going financially. It allows you to set goals and evaluate your progress and trust the process. Thereʼs no successful person or company that doesnʼt plan their cash outlays. Make a plan today to cut short every unnecessary spending.
- Make sure everybodyʼs on the plan:
Changing your spending habits is quite hard to do if everyone else in your life isnʼt on the same plan or page with you. Make sure everyone in the family is committed to the trip before embarking on it. At least, make them understand your plan and respect it.
4. Make a list:
Always use a list when shopping and learn not to buy anything that isnʼt on it. Depending on what youʼre shopping for, you can easily save 10 to 15% of your money with this tip alone.
- Be a good bargainer:
This is also applicable when shopping. When youʼre buying something expensive, or buying a service, always bargain on price. It never hurts to ask, and if youʼre buying something big, like a TV, a refrigerator or a computer, ask for a discount and you might just save yourself 10 to 20%. This also goes a long way in keeping cash and saving money.
- Donʼt pay for extra features that you donʼt need:
Fancy extras on everything from cars to tech devices etc.. these are often high profit margin items for manufacturers and dealers. Even if it only costs “a little more” why buy things youʼll never use? Fewer gadgets can also mean longer product life with less spend in repair bills. You have cable, Netflix, blu-rays etc, how many can you really use well? Focus on what you need and save some cool cash.