Saving money effectively is always a matter of many concerns. How to best balance making money and spending money? A reasonable savings plan will help us stay proactive when there are unexpected expenses incurred. Just like a new workout plan or a vow to eat healthier, having a small, easily achieved savings plan trains your brain to live a proper life and save money more effectively, and not to expect too high. Try following these tips regularly and adding savings accounts every week or month to help you have a lightweight savings program effectively.
1. Restrict payment by credit card
If you often choose to pay by credit card, store your credit card and keep it in a secret place at home rather than in your wallet. This will help you avoid being “tempted” when there are many attractive items on sale but the cash in your wallet is not enough to buy right away.
Also need to remove credit cards from online accounts. It’s easy to click the payment button once your credit card information has been saved to the system.
2. Follow the 30 day rule
Avoiding instant gratification is one of the most important rules in managing personal finances. Waiting 30 days to decide on a favorite item is an effective way to implement that rule. This helps avoid impulsive and impromptu purchases. Also, if you wait a few more days, you are more likely to buy it for a lower price, usually after 30 days you will find that you are no longer interested in some of these products, basically, you will Get rid of most content on your to-do list and only buy what’s really useful or important.
3. Limit spending on stress
We often find to beer club, going to a restaurant with friends or going shopping to relieve stress or escape a stressful working day. However, this is a habit that affects monthly spending. Instead of spending money on things that don’t make you feel better, choose solutions that are both inexpensive and bring great effects such as exercise, a meditation or yoga, reading, watching movies, planting trees, etc. will help your mind become lighter.
4.List items to buy in the right list
One of the easiest ways for you to save money is to just go shopping when you’ve got a list of things to buy. Because when not on the list, you will often shop unplanned and will easily fall into the situation “overhand forehead”. Purchasing the list will help you ensure your spending and will not cost you unnecessary things. Shopping is easy to get addicted, you should have a list of things to buy to avoid over shopping.
5.Record income and expenses in detail
Many people who fall into the situation of “overplaying their forehead” wonder “How to save money?” Before going to bed at night, make a list of the expenses you spend during the day, this will help you to control your spending each and will easily capture the financial situation and hinder how to implement your savings plan, thereby taking timely measures to prevent and regulate spending more appropriately. One of the effective ways is to use Coupons, deals, promo codes, promotion, sale-off, … to Save Money When Shopping.
Not managing your daily cash flow will lead to a difficult life situation because sometimes you have to choose between saving and important things that cost a lot of money at a certain time.
6.Fixed weekly expenses
Please set a specific spending each week depending on the economic situation of the individual. This will help us to control ourselves not to spend excessively or to spend extravagantly. Moreover, if you miss out on spending this week, next week you have to rebalance yourself and spend less to make up for this week. This is also the secret to help you avoid budget deficits, avoid debt caused by wasteful spending “lack of reason”. When you first apply it, you may find it difficult to do it, but it will form a habit for a long time and help you a lot in thinking about how to save money effectively.
7.Savings from the smallest actions
Whether or not you can save money is as planned, start the smallest job by: Turn off lights or electrical equipment if not needed, choose a store with a discount program, as well as planning reasonable spending for festive occasions (Christmast, haloween). Equivalent products, use membership cards for more incentives, if you move near your home or near the office, you should walk to save fuel and can enlist body movement, should not spend For entertainment such as watching movies in theaters, you can instead enjoy good movies on online movie sites, cook for yourself to save money and hygiene than go out to eat, use products that have Power-saving functions such as solar water heaters,