Trying to reduce spending money is a really important objective these days. More and more people seem to be interested in simple ways to cut back their expenses and start making economies. There are many reasons why people would want to reduce wastage and learn some skills in order to better manage their money. Whether they want to feel like they have financial security in case of an emergency, want to save for a vacation or already have in mind a large purchase they want to make, saving money is never a bad idea.
I was always struggling with wasting money on random things just because they were advertised in an attractive way or I found myself buying things on impulse without thinking first, things that ended up being pretty useless in the end. But there came a time when I knew I just needed to stop. From my experience, the journey to saving money is quite tough and difficult, but not impossible.
Here are 5 easy tips which you may find useful.
1. Saving money gets easier when you set a goal from the start
It’s interesting how having some kind of resolve can motivate us. Try to find an objective you want to save that money for. Maybe you really want to add something new to your home which will make your life easier and more comfortable, need new clothes or some kind of entertainment like video games. In any case, it must be something you love and you won’t regret spending money on. Even if you change your mind about it in the end, it will still keep you hyped along the way.
2. Avoid going to places where your compulsive buying tendencies explode
If you lose yourself in a clothing store, buying unnecessary new outfits but knowing well enough you already have a wardrobe full of these items, then stop going to such places if you don’t really need anything. Not visiting these shops means you won’t be tempted to waste a large sum of money in just one fell swoop. As we all know, spending money is much more damaging when it’s done all at once.
3. Refrain from buying small, useless things you see in shops by thinking rationally
I know, this one may sound difficult at first glance, but let me explain it a bit. When you find yourself pending about whether or not you should buy something that is definitely not on your shopping list, try asking yourself first: ’’When I’m really going to use this in the future? Is this something I will be reaching for often? Do I already have something identical or similar at home?’’ If it does fit in this description, you should really put it back and avoid spending money.
4. Try to avoid eating out
Doing some research I found out that spending money is often linked to going to fancy restaurants, or just treating yourself with junk food. Doing this from time to time is totally fine but you should also try to cook for yourself more. You can find some easy and quick recipes you enjoy and then switch them day by day. Or just try to cook your favorite dish at home. You may even discover a new hobby!
5. Be realistic about the price of the products
This was the mistake I was making when shopping in fancy stores, considering the fact that they may be overpriced. If you need to buy some stuff, ask yourself if you should really be spending money on it. Can you perhaps find a better alternative for a lower price in another store? Don’t let their cute pattern deceive you. Try to visit other places first and see if you can find the same item for a price that may seem closer to reality.
Whatever you do, just remember that saving can be hard at first as spending money is imminent. It’s a difficult journey in which you need to be constantly focused on your goal. So be patient with yourself and don’t give up at the first hurdle!
Don’t forget to check out these psychological tricks used in restaurants to make you spend more money.