9 TIPS TO STOP SPENDING & START SAVING
To stop spending money is that thing about which we all need to be conscious. Do not save what is left after spending, but spend what is left after saving. If you are a teenager and you have got a student loan or you want to go no a vacation it’s always a good idea to save money and to become more money conscious. Here are some smart tips to help you out to stop spending and start saving money.
HAVE A GOAL IN MIND:
There should always be a goal in your mind for which you are saving towards. This could be paying credit card debt or going for vacation or paying off student loan, a new laptop or a car. Have a goal in your mind and be focused on to it so that it will motivate you to save quickly and stop spending money.
TELL YOUR FAMILY & FRIEND’S ABOUT YOURS MOTIVES FOR SAVING:
This can make a lot easier for you so that you can easily say “NO” to anyone if any event is costing you a lot of money. It may even inspire others to save money & stop spending. “To acquire money requires valor, to keep money requires prudence, and to spend money well is an art”. –Berthold Auerbach
MAKE A BUDGET:
When you get paid, take out the money that you need for groceries and put it in your wallet and remember to put only that much amount which you need until you get paid next time. You may run into problems initially but will get disciplined with the passage of time.
THINK OF MONEY IN TERMS OF HOURS ,TIME IN TERMS OF MONEY:
If you want to go to an event or buying anything, and that cost is suppose $100, you have to think in mind that how many hours will it take to generate $100 and is this event worth that money? When you think in terms of time and money you will get extra conscious about where you are spending money and how to save that money.
STOP BEING SO GENEROUS:
For all of you out there who are generous, give a reality check. Just keep in mind you have to save money. if you have got many friends birthday in the same coming month, prepare yourself and start to save birthday cards or gifts ahead to give yourself a setback.
STOP TAKING MUTLIPLE TRIPS WITHOUT ANY REASON:
Walk to work; I know it’s not that easy but if you drive a car always think about leaving the house for one time if there is no other emergency. For e.g. If you want to go out for lunch with your friends or want to buy groceries make sure you do this on one trip for both the things instead of making multiple trips.
UNSUBSCRIBE SHOPPPING EMAILS:
Unsubscribe potential spending emails, which tempts you to spend money. When your inbox is flattered with such stuffs, you will automatically get force to buy these things. Out of sight, out of mind.
CHANGE YOUR OUTING PLAN/ PLACES WITH YOUR FRIENDS:
If you usually go to the malls with your friends, you will be spending money out there. Instead, invite them over to your place and shop online as some websites are offering discount vouchers & coupons for shopping which is quite affordable and also you will get to spend quality time together with your friends.
LOOK AT YOUR BILLS:
Look at your bills which you are spending money on, and put a check on the things that are unnecessary. Reduce your cell phone bills; reduce grooming expenses, and buy nonperishable items in bulk and use coupons, ask the store owners to make the bill less expensive.
Follow all these smart tips aggressively, stop spending too much and start saving money.