How to Spend Less Money and Save More Every Day
Do you know that one of the reasons why people go bankrupt is because of their terrible spending habits? A lot of them spend way beyond their means. They max out their credit cards and don’t keep anything from their salary. They also pay their bills only when they remember them. Worse they don’t pay for their entire dues.
You don’t want to go bankrupt. It damages your credit report, making it difficult for you to apply for a loan or even find a job. If you take it too hard, it leads to depression and a high level of stress.
The key to proper management is this: save more and spend less. If you’re having a lot of trouble in doing that, the following tips might be helpful:
1. Automate your payments. You can enroll as many of your due accounts as possible to your savings or current account. By the time they are due, the amount is automatically debited from your accounts. You don’t have to keep track of your schedule, and the only thing you have to do is to ensure there’s enough money in the bank to pay them up.
2. Cut back on your leisure. A huge chunk of your expenses are for things you can forego. For example, instead of dining out and spend as much as a hundred dollars, you can cook some at your home and shell out just around $10. Rather than watch movies in theaters, wait for them to come out as DVDs. You’ll even have souvenirs in the process. Schedule your trips, as well as your errands. As much as possible, you want to save on gas and transport.
3. Keep the pennies. Don’t throw those pennies away or tuck them just about anywhere. Gather them all up, put them in a particular drawer, or even maintain a piggybank. You’ll be surprised on how much money you can come up with your collected pennies.
4. Teach the household how to save. It’s not a good idea to save all by yourself. The entire household should learn how to do that too. The kids must know how to not ask for a lot of money for anything, and partners should also avoid staying out a lot of times with friends.
5. Change the way your mind thinks. You could be one of those who believe that no one should be tied to material possessions, so you squander them. That is a wrong mentality. Though it’s true that you should never be obsessed with material things, you still have to keep some of your money for your future needs.
You can use affirmations or subliminal messages to change the way you think. If you ever find yourself about to spend a lot of money for a want, tell yourself the following lines:
I have to save for the future.
The future depends on me.
Money is a need I have to keep.
You can also download subliminal messages videos and mp3s and listen to them regularly. This way you don’t ever forget them.