Money! The Fuel we need everyday for literally everything we want. Before You step out each Morning, Someone is waiting to take your money one way or another. The Cable Company is asking you to Subscribe, You have almost run out of groceries, the necessary bills you need to pay are piling up, Oh Lord, it’s a hustle. Everything basically requires you to spend money each day. But How much do you have left for yourself, to invest in your future plans and goals, to give your family the vacation they’ve always wanted and all your other lovely desires? Well, worry not! Check out these 9 Best ways to save money the old school way. With these proven methods, You can start cultivating the good habit of saving money for a better future and Life. Take a Look!
1. Pay Yourself First!
This is one of the oldest, most proven trick that can help you save Money. How does it work? Here goes:
Set a percentage you can save out of every income, wage or salary you make, no matter how low it is. For example, set a goal to save 20% out of your monthly salary. Each time you get paid, you set 20% aside and save it. It should be an amount that won’t affect your basic needs. Keep the money in a savings account and look away. Each time you get paid, take another 20% and add to this savings account, and keep looking away. Don’t be tempted to spend it no matter the pressure to help someone or get something new, just Keep Saving. In a Year time, check your account balance. It would amaze you how much money you were able to save.
2. Create a Win-Win Budget For You and Your Needs.
Budget! Budget! Budget! And Stick to It!
If you can write it all down, Better! Make a List of all your needs and wants. Try to cross out some of the wants you can do without, like skipping some bills you don’t need. That extra shoe you wanted to get can go for now. Hmm. But still create room for a little fun. Now calculate the total of all your basic needs and wants, and subtract it from your monthly income. Try as much as possible to stick to this list for as long as possible. Any cash that is spared from all the sacrifice you make, after spending on your major needs, Save! Save! Save! It works like a charm!
3. Set a Big, But Achievable Saving Goal.
The Fun Side of Saving!
This makes saving a fun thing to do. All you need to do is set a goal you want to achieve over a specific period. It could be a goal to save a specific amount after 6 months. Then try as much as possible to follow your budget and save upto your goal. The Joy and Adrenaline will come as you get closer to your goal. Trust me, lol!
4. Create a Piggy Bank for loose Change.
Create a Piggy Bank or Money box. Whenever you get a few coins or quarter as change, throw them in your Piggy bank or Money box. Something great about this method is that at that specific time, the change might not seem much to You. But no worries, just throw it into your piggy bank and don’t be tempted to spend from it. After a long time, like a Year, go back and open the box and let your coins pour out. Woah, Amazing saving strategy!
5. Always Buy High Quality Products.
How would this help you save? Here goes:
Something great about High Quality and Premium products is that they last for a very long time, if well maintained. Clothes, Shoes, Gadgets, Television, Phone, Laptop and others. All You need to do is get the best of each product, and maintain it well. It would help you skip on getting new stuffs every now and then. This would save you a lot of money on the long run.
6. Make a List Before Shopping and Stick to it.
A lot of distractions are always there to make You spend more than your budget. With all the latest trends, it’s very easy to forget your budget and overspend. To help you skip past this risk, always make a list of things you need according to your budget, before leaving the house. With this list, try to stick to it and overlook any distractions at the Mall or Market. It’s a sacrifice that will save you from a lot.
7. Practice a Healthy Lifestyle.
Health is Wealth and Prevention is cheaper than Cure!
Practice a Healthy Lifestyle daily. Keep in shape, Exercise, Meditate, Eat good food and go on Diets. Take good care of your body. It would keep you out of the hospital, help you skip on Medical bills and save the money you would have given to a Doctor. Double profit for you because you get to Live well and Look great, while Saving.
8. DIY! DIY! DIY!
Completing of simple tasks by Yourself at home can go a long way in helping you save some money. It can be simple tasks like Painting, House Cleaning, Mowing your Lawn and so on. When it comes to the more technical stuff like fixing electrical wires, you can then call a professional. Doing things Yourself is the way to go!
9. Invest Your Savings in Reasonable Ventures (Make Your Money/Savings Grow).
One sad truth is that no matter how much money you make or save out, it must be spent, one way or the other. The best way to keep saving and make more money while doing that, is to invest in a reasonable business. Invest your money and let it keep growing. It is better than spending on Liabilities that won’t last long. This would one day help provide the Lifestyle you want, and make Life more better for you and your Family.
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If You are Happy with these tips on Saving Your Money effectively, Also Check out ways you can Lose Money easily and how to Prevent falling Prey to them, Here: (https://www.naijala.com/lifestyle/money-5-fastest-ways-we-lose-our-money/)