5 Tips For Saving Money
If you want to be financially successful in life you have to master the art of saving money.
By saving I don’t mean holding on to every pound you have, but the art of buying what you actually need and spending less on the things you don’t need.
The vast majority of people currently spend money on things they don’t need, and it’s one of the reasons why so many hard working individuals never have money left over at the end of each month or week.
Here are 5 tips that you can start using today, and will help you to save more money.
5 Tips For Saving Money
1 – The 30 day rule.
Whatever you want to buy, write it down on a piece of paper or on your computer and write the date next to it.
Wait at least 30 days before actually trying to buying it.
This helps to prevent impulse buys and also if you wait some time, you’re more likely to buy the item at a reduced price.
You may also find that after 30 days, this item is no longer of interest to you or you simply dont even need it.
Using the 30 day rule you are essentially buying only what is useful and important to you.
2 – Commit to paying yourself.
Every month or week depending on how you get paid commit to pay yourself at least 10% of your salary.
The majority of people pay everyone else but themselves.
They pay all the usual bills, pay for clothes they don’t need, buy gadgets they dont need etc and by the end of the month or week they are left with nothing.
Instead pay yourself at least 10% of your income before you spend it on anything else at all.
Try setting up a direct debit with your bank so that every week/month 10% of your salary is transferred to a savings account.
3 – Write a list before you go shopping – and stick to it.
It’s a fact that you are more likely to buy unnecessary items if you are shopping without a list.
When you’re without one, you typically end up making impulse buys and unplanned purchases.
So before you spend your hard earned money, carefully plan your shopping list and more importantly, stick to it.
4 – . Turn off your television.
Huh? Whats that got to do with saving money I hear you ask?
How many times have you started watching something on the TV that you had no intention of watching?
Your essentially spending your time, and time is money.
When you waste your time your wasting money.
By turning of your television you are getting your money back from the subscription you used to pay, less exposure to adverts which are inducing you to buy more crap you dont need or want, a lower electric bill and more time to focus on other things in life.
Use this time to start earning some additional income.
Have a look at this post here which has over 60+ different ways you can earn some extra money from home.
5 – Change your mindset from saving more to earning more.
It’s easier to save more money if you earn more money. (No shit Furn)
This blog is all about helping you the reader to learn as much as possible with the goal to have a better life.
So instead of focusing on saving as much as you can, change your focus to how you can increase your skills and value so that you earn as much as you can.
But be careful.
Please do not fall into the trap of spending more money just because you earn more.
I’ve seen so many people get a pay raise, or start earning some extra money and they instantly spend all the money.
Its just like they didn’t get a pay raise as they have spent it all.
Try to keep your outgoings the same.
And that completes 5 tips for saving more money.
By following just some of the tips in this article I can assure you that your savings will grow, pretty rapidly.
Having savings will help you to feel more secure in the future and confident.
Some of the tips will take a little while to get use to, but once you start and your savings begin to increase you will find it easier every day.
Thank you for reading.
Until next time.
Take Care & Keep Smiling
Learn More / Earn More / Save More / Start Living More
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