Tagged: saving money, spending right, wise spending and saving
One of the most important part of our life is having investments like home, funds and money in the bank or having our business. This is achievable if we really know how to spend well and save well.
Most of the successful people knew how to succeed by doing the simple math. They save more and spend less. There are lots of ways but here are the five simple spending and saving techniques.
(Five) 5 Spending and Saving Techniques
1. Spend only on alternative cheaper options on some things, except if it is food or quality and branding is very important. But most of the time, we only need the item and not the brand or name of the item.
2. Before you start spending, save first. This is very helpful, because if you save at first, you won't be able to spend the saved money. This protects yourself from not being able to save, and you can't make any excuse at all that you weren't able to save because you over spend.
3. Keep 10% of your money every pay day. This will help you have enough money in the future and thus help you accumulate money in the bank. The higher pay you have, you can increase the money you save, say 20% or more depending on your needs.
4. If you gets a higher pay, don't spend more, instead keep your normal spending even before you get a raise in your income or salary.
5. Live a simple life, avoid the luxury. For example if you don't really need to watch a movie, then don't especially if the movie is not related to your work, studies or research. You will only lose money on that and it's a bad idea to follow fad.
I hope that you will get enough saving time from time to time. And remember that it is always better to have money just before the rainy days. You can't tell ahead what will happen in life.
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