We’re all looking for ways to save our hard-earned money, and I bet you already know a bunch of money saving tips, am I right?The Lego Batman Movie (2017)
The thing is, most of those money saving tips that you know now can be summed up into general ideas which you can easily remember.
I was able to come up with these 10 golden rules by just reading most of the money saving tips surfacing around the Internet nowadays.
10 Money Saving Rules
RULE #1: Set your goals
Having goals are important on whatever you do in your life because they are the ones that will guide you. Ever wonder why most people are lost even if they’re doing their best?
Well, one of the reasons for that is because they didn’t set their goals. Knowing what you want to achieve can help in motivating yourself, and for you to know where to concentrate your efforts.
Oh. One more thing, when you’re setting your goals make sure that they are realistic and try to put a deadline on each of your goals.
Catherine of YoungAdultMoney.com just made an article on how you can set realistic goals for the New Year, you should check that one out.
RULE #2: Focus
Now that you know what you want to achieve, it’s time for you to focus and make sure you accomplish your goals.
We’re talking about saving money, so you must avoid any impulse purchases and make sure that you only buy the things you really need.
You should also have a budget to follow for you to monitor where your money goes.
RULE #3: Avoid buying new stuff as much as possible
You don’t need to have the latest gadgets or the latest model of your favorite car.
Your money shouldn’t be wasted on those kind of stuff, but if ever you feel the urge of buying something you want, you should think about it for at least a week first.
If you still want to have it after a week, then buy it. If not, then that’s great because you just saved some of your hard-earned money.
RULE #4: Maximize the use of things you have now
Don’t throw away things because you don’t like the way they look now or they may seem too old for you.
If they still work, then use them until they stop working.
If you’re still having a hard time sticking with the things you have, then try to go inside a poor family’s home or talk with a person who lives on the streets.
Those are some of the best people I know when it comes to maximizing the use of things they have.
RULE #5: Don’t waste anything
Do you know what we waste the most?
One-third of the food produced worldwide is wasted by us, and that would amount to about $US 750 billion. (You can see the full report here)
Imagine how many hungry people in Africa or other parts of the globe can be fed if we could just stop wasting food.
Now, think about how much money you can save if you would properly plan your meals and start reducing the amount of food wasted in your household.
RULE #6: Know your limitations
Knowing your limitations means you’ll be able to lessen the mistakes you could make.
It’s like when you go out for shopping, if you know you have limited money and you see something you want, you shouldn’t use your credit card just to have it.
You should act like you really don’t have the money and just go home.
RULE #7: Be healthy
“Health is wealth.”
That’s one of my favorite phrases when I was a child. It holds one simple meaning, and that is to give our health importance.
It’s because being healthy means we could avoid paying for expensive hospital bills and other expenses we will make whenever we are sick.
RULE #8: Be resourceful
If you really want to save money, then you’ve got to be resourceful.
Being resourceful enough to do things on your own would have a positive effect on your finances because you don’t have to spend that much to get what you want.
RULE #9: Be industrious
There are several things you can do yourself in which you don’t have to ask for help anymore or pay others to do it for you, like cleaning your house, doing your laundry, washing your car or even walking your dog.
You don’t have to pay someone to do something you can do yourself. You’ll be wasting money, and that’s something you don’t want to do. (See RULE # 5)
RULE #10: Always aim to save every money you have
Spending is part of our daily lives, that’s why this rule may be impossible to follow. The good thing is that you tried to save your money, and that’s what you’re aiming for, right?
Saving money can be easy with a right mindset. Just focus on your goals and know the things you should and should not do.
Remember those, and I’m sure you could be saving more and more as time passes by.
Photo Credit: Alan Cleaver and Images_of_Money