A lot of us are honestly just living on pay check to pay check, so it makes it really difficult to think about saving for the future. This can be especially hard depending on what time of scheduling salary you have because while there are some who get paid monthly or even weekly, there are those who only get their money annually. Adjusting your money to fit the days so you can survive until the next pay is really hard.
So how DO you save money?
First of all, track your expenses. You can use whatever tools you want to help you in budgeting your expenses. It can be a mobile app or a notebook, it matters not. The point here is that you need to cut out certain amounts to dedicate to the important things that needed your financial attention. Things such as the utility bills, food, transport and housing. Then whatever’s left should be cut in half. The first half should be your allowance or for other necessities that you would need and want in the future. The second half, you can put away for safe keeping.
Simple, right? Well, the planning is easy to do, the rest actually isn’t. You need to have discipline in how you control your money and NOT letting it control you. Saving money isn’t easy however it isn’t impossible.
Another good tip to remember, stop making impulsive purchases. We know it can be tempting to go to either eBay or Amazon or any of the online shops when you’re bored, however that isn’t really a good idea when you’re trying to save your money. Going to those shops is the same as going to the mall thinking all you’re going to do is just look around but then you ended up buying the new iPhone. Don’t go to any malls or shops unless you have a purpose for doing so. Otherwise, you’re just going to lose your money just buying things you don’t even need.
Also, maybe you should reduce your energy consumption? We all know that electricity sometimes takes up the majority of the spending you have to pay. The best way to remedy that is to not use electricity so much other than the usual important necessities. Make sure to unplug some sockets when they’re not in use because those will still eat a lot of electricity, even when they aren’t being used.
Last thing to consider: be smarter about food. How are you going to save some cash if you keep buying expensive food? Food is a necessity, yes, and it needs to be healthy and nutritious all the time, yes. However, overspending on it isn’t the right way. Try to spend less on lunch at work. Prepare your own lunch at home and bring it with you instead.