“Spend less than what you earn.” You’ve probably heard or read this money-saving advice a gazillion times. It’s better said than done especially if you have an unstable job, are saving for something big, or you just have a penchant for spending money.
But no matter how impossible it may seem, it can be done. Here’s how to get by on spending less, no matter what situation you’re in.
1. Keep Track Of Your Money
Keeping track of your money may be easier to do if you only spend cash. Try to save the majority of your paycheque and only take out a certain amount each week to live on. Having a physical amount of cash to keep track of will prevent you from making unnecessary purchases. You must also remember to avoid using your credit card/s for a certain period of time. You’ll be surprised at how much you can save. It should also keep your online shopping addiction at bay for a while, or better, put an end to it.
2. Identify What You Need
By nature, we all have our own weaknesses. But try to think about whether we really need something or we just want to have it for the sake of having it. Instead of spending money on purchases you can live without such as monthly fitness club membership, hardbound copy of the latest best seller novels, or designer clothes, look for alternatives that cost less or nothing at all.
3. Look After What You Have
You’ve probably had a bunch of stuff that you don’t need. Instead of shelling out money to replace everyday items every few months or years, it doesn’t hurt much to take care of what you already have. A little effort can help you keep your household appliances and electronic devices running smoothly and looking great. Wash your clothes as stated on their labels. Use protector sprays on leather shoes. Do regular maintenance checks on white goods. A little care goes a long way.
4. Stop Comparing
If your neighbour has a new car, designer items or just booked for an awesome Eurotrip, it doesn’t mean that you need to as well. There’s no point in keeping up with anyone especially if you can’t afford to do so. It might take a little practice and a lot of self-control, but once you stop comparing yourself and your situation to people around you, you’ll see that it’s easier to make do with a little less. Appreciate what you’ve got and accepted the fact that there’s always someone who is going to do more and have more than you. Think about the people with a lot less than you if you’re feeling miserable about someone else’s new possession.