One of the best ways to save money is to save 10% of your income. Every time you get a paycheck, put 10% of that into your savings account. Most of us are earning more than we need, even if we don't think so. Rearrange the rest of your budget and you'll find there are things you don't need to spend your money on. Maybe spend less on clothes, going to the movies, eating out, etc. Try canceling your cable tv and watching tv on your laptop instead. Try to save on your electric bill by instilling energy efficient ways of living into your household. Drive less. It's funny how we can save money and save the environment at the same time.
Pretend you don't have money and you won't spend it. When we think we have the money to buy that $5 T-shirt, or we think we have the money to spend $10 on a meal instead of just $5. It all adds up quickly over time.
So get to saving that 10% and you'll be less likely to worry about money. You never know when an accident may happen, or your car breaks down, or you need to visit the hospital. You'll have the back up money you'll need for those unexpected expenses. Not to mention, you'll be on track for retirement!
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I never would have thought to pretend I don't have money so that I don't spend too much. That is genius. I am going to try that and see if it works.
ReplyDeleteI think it might just work. I'm thinking about leaving most of my money home when I go out. Or maybe I won't take extra cash when I buy something I need. Then I won't be tempted to spend more. Great idea indeed!
ReplyDeleteI barely ever buy things I don't need. I just have the mindset that if I don't need it, I'm not buying it. Only if I really really want something, then I buy it. But most of the time it can take months of me convincing myself to buy it. I never run out of money because I never spend more than I earn. And you need to remember to save that money that you're not spending. You may need it for emergencies, a nice vacation, or retirement.
ReplyDeleteYou are a very smart lady Lisha!
ReplyDeleteI am looking forward to you next post !
Thanks! I don't update this blog very much, but what I write here I think is very important to keep people in perspective of what's important, and help people learn how they should be spending (or saving) their money.
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