Money can not buy happiness. I agree with that, with a lot of ‘buts’. No matter how much we try to deny it, we have to admit that a lot of problems CAN be solved with money. The moment you start getting short of it, you start worrying about multiple things going on in your life. To keep yourself from running out of money, you not only have to save it smartly but also spend it smartly! It is something that we can never have enough of. Except of course, if you happen to be born in a filthy rich family! If not, then I'm pretty sure that you go through the same feelings that more than half of the world goes through at the end of the month! I am not a smart spender, hence to myself, I dug out some really useful tips and even started acting on them. It has really helped me! Try these out!
Everything that you spend on counts!
That’s right. Don’t just count the heavy expenses of the month, count everything that you spend on. This means that if you even buy snacks for yourself on a weekend, add it to your expenses. Even if you give out money to the needy people, no matter how small the amount is, add it to your expenses. Sometimes, by the end of the month, we don’t even know where all the money went. Keeping a record of everything will help you analyze your expenses accurately.
Save first, Earn Later!
This is a rule that I learned from my colleague. During my early years of the first job, I was really struggling to save money. Every month, I would end up with no or little amount to save in my account. It really bothered me to see that I want able to save much and everything I had expected of the job didn’t make any sense anymore. My colleague advised me to first separate the saving every month and then consider spending whatever is left after the saving. It made so much sense to me. Its all about prioritizing how you want to spend. I started saving major amount and then restricting myself to the money I was left with. I not only ended up saving the required amount but also learned to spend only on the things I need.
Set an Aim!
When you have an aim in life, you stay motivated and do everything you have to in order to achieve it. Similarly, if you make a goal to save enough money to be able to do something you have always dreamt of, then it would be much easier for you to save at the end of the day. You would know that sacrifices will have to be made for something much bigger and better for you. You must also set a timeline for your goal so that you don’t deviate from the deadline!
Keep a check on your saving
Once you do start seeing money settle in your account, keep a check on it. Check on it every month and make sure that you are following the plan. This will not only let you keep a check on it but also stay motivated to see your dream coming true! Moreover, if at any point you feel that you’ve spent unnecessarily, make a target to fulfill it as soon as you can.
Open a Saving Account
If you are really a bigtime spender then another useful trick is to make a separate account where only the money that saves goes in. Don’t get an ATM or credit and debit card made of this account. Just deposit the money as soon as you get your salary and then forget about it! Put the rest of the money in your other account that allows you to spend on your necessities.
