MONEY SAVING SECRETS
Money isn’t everything but everything needs money. Interesting, right? Everyone needs money and we all look for ways to find it, but we rarely think about how to save what we get. Saving is a culture that should be with every individual and every household. A simple fact that is hard to learn is that: the time to save money is when you have some. Spend what is left after saving but do not save what is left. https://www.developgoodhabits.com/money-quotes/
Here are some tips to boost your chances of successfully saving money:
Make a budget – A budget is the heart of every saving plan. It brings the balance between spending and saving because it helps you prioritizing. If you’re spending more than you earn, ask yourself how you could cut out or cut back.
Track your spending – we mostly spend more on the little things we assume aren’t that costly. Watch your day to day spending habits to avoid living beyond your means. Be keen enough to note whether you stick to your planned budget and identify the areas where you can save.
Open a savings account – A savings account restricts access to your money. This will help you ward off the temptation to spend this money especially be setting up automatic, scheduled transfer from your main account to your savings account. You also need the discipline to service this account.
Control your impulses – This requires self-control not to succumb to temptation to spend unnecessarily. You can do this by waiting a day longer to purchase what you feel like, chances are you will think the item is not worth it.
Avoid a poverty mentality – a lack mentality is one preoccupied with a shortage of money and all the things the person doesn’t have and can’t get. This is a self- limiting belief and one tends to make decisions based on fear of loss or failure.
Find out details of these and more on: https://www.budgetdirect.com.au/blog/11-tips-to-save-money-in-tough-times.html