Do you find it hard to restrain yourself from spending and splurging like no one’s business? With so many sales in stores and devious temptations, it is hard to hold back the purse. Instead of buying those clothes and shoes, why not save up for something worthwhile like travelling? We’re here to help you out in sorting out your money where it counts.
1. Avoid going to malls. You’ll probably be spending more time cashing out to buy things you don’t need without realising it. Especially if you’re bored, sad or hungry.
2. Who’s got an online shopping site open in their tabs right now? Just close it. This new ‘hobby’ of yours is one of the reasons why your wallet feels light. Find other hobbies that don’t include words like ‘online’ and ‘shopping’.
3. Set a goal for yourself like a holiday trip at the end of the year with your loved ones. Do this so that every time you want to buy something that you don’t need, you’ll be reminded of that big trip you’re saving up for!
4. Separate your everyday expenditures. Set aside a budget for bills and things like personal needs, and stick to it. If there’s any extra cash left then you can use it for something extra.
5. When you go out to buy groceries, bring only the amount you want to spend. If you bring more than necessary, the possibility of you spending an additional than you actually need is high.
6. Use a shopping list. And use it strictly. Not only will it remind you of what you have to buy but it will also make sure you don’t purchase anything out of that list.
7. Most people can’t be bothered with having to carry coins. Good! Store those coins in a container and fill it up if and when you have them. Over time, it’ll grow and reach hundreds without you noticing. Just don’t forget about it! When your container has filled up, just head to the bank and switch it for notes.
8. Besides investing in designer bags, we hear gold is a good and stable investment. Although that’s maybe a little too extreme. Try putting your extra cash in a fixed deposit account, which generates more returns than a regular savings account. And you won’t have to fiddle around with investments either.