Money-Saving Tips On A Day To Day Living

The way of saving keeps changing and becoming better because I could still remember how I saved a few bucks in a container when I was little and would spend it away like I never did save any before. It was merely saving what I earned, no profits added... Just waiting for the day it will be spent away. Saving back then was crude and I'll say it was unwise comparing to how savings is being nowadays.

I've learnt so much about saving from my dad but I learnt more from what people say about how they save. There are like a million ways to save while living day after day as you earn. Even though these tips aren't all of it, they are good tips one can take alongside what is known already to save more than usual for emergency days and to meet budgets.

Before I share the tips you can learn from, I'd love to explain what savings means.

Saving is the means of getting ready for unexpected situations that usually are not what one can determine how it will go, saving keeps one prepared and trained towards financial freedom too

This is just a personal definition as there are a lot of definitions online if you'll do a research on it. While saving is good, many lack the ability... Saving is a talent, I've always seen it that way as I've come to see a lot of people who find it hard to do but enjoy spending with no reserve. It takes discipline, self control and the earning means to save for the future. Here are a few tips on saving your money while you go about daily living.

Set Savings Goals

You can read books, browse online and even learn from old patterns, whatever way you can find to prepare your own strategy in saving. Not all saving method would work for you. I've seen people who can't save in their house so they use the bank current saving account, others are very much able to save at home and it works for them. Whatever works for you, set a plan and adhere to it, this is supposed to put you in the habit of saving more intentionally than unconsciously.

Eliminate Your Debts

I once chatted with a friend and she said something that has stuck in my head for long now... I can't save when I'm owing someone money. It's a fact, it will be difficult to save when you owe debts except you want to ignore your debts and live like it never happened which will never tell well of you and may even affect your saving attitude. Focus on eliminating your debts first and then you focus well on your savings.

Pay Yourself While Saving

Even I am guilty of this attitude, I tend to sacrifice my cravings and special wants sometimes just so I could have more to save. While it will make your savings grow faster, it will also make your expenses in the future more as you may be compromising your health for future detriments which can be avoided with smaller expenses. Learn to get what you want when you want it but do not abuse that fact, you need to save.

Spend to save

This is about how you spend your money, try to bring prices down to nearest cheapest before buying. And even for services you pay for, get good quality service to avoid near future breakdowns to fix again. Go for quality than quantities as this would help you not spend more quickly than you should in other for you save. While you spend on goods or services, think about your future if you'll be spending on them again and pay more if it will prolong the time of another expenses on them.

Avoid Unnecessary Spending

There are expenses you can avoid, you can do without to reduce cost and you can use for important things instead. Learn to avoid them to save more. Even a simple visit to a friend, be calculative sometimes, cut down your expenses by taking walks instead of cabs sometimes, pack a lunch to work to avoid spending on stale foods that may be more expensive... The whole point is finding ways to save daily, figure that out and stick to them. Roadside foods shouldn't be a habit for you, they consume money more than realized.

Analyze Your Spending Daily

You don't want to keep spending without knowing how much you've spent so far, and not know what to save... That would be reckless for one who has a future to prepare for especially for emergency cases. While you spend, be sure to keep in check where your money go to and if possible, learn to save after paying yourself before any other thing. It will help you spend well and also save well.

There are tricks to saving and becoming prepared for the future but not many can do them as it takes more than a plan to achieve it... Self control, discipline and focus will go a long way in actualising your saving plans. People who save do tend to live a frugal life, it isn't bad but a moderate to everything is required and you should be mindful of that always even in other areas of life.

Setting budgets, buying in bulks, avoiding inflation as much as possible and saying goodbye to debt owing, will help a lot in your saving plans. There are a lot more ways and one important one which I decided not to add is Investment to save more, this tip will take a long talk so it will fit into another whole posts. But do know that investing should also be part of your saving plans as it will bring more additions to your earned income instead of taking back what you saved.

I hope these tips helped someone, your comments and contributions to this topic are all welcomed.

Posted Using LeoFinance Alpha