
Spend. Spend. Spend.
Are you one of those people who usually spend more than what they save?
Well, all of us had been there before. Who would not spend on the things that they like? Of course, as long as there’s a means, for sure we’ll get it any way possible.
People differs on how they can control things especially on what they really like. Some prefers saving, more than what spending it to the thing that they want. Do you have any idea how they were able to make it happen?
Some situations happened in their life, push them to set their priority. They tend to prepare for anything that may happen simply because they already experienced the worst. Their journey made them realized a lot of things and one those is to manage properly their finances.
Now, to help others on attaining this goal, here are some useful tips that they can apply in their lives. These tips are very easy to do and anyone can follow. It may take time for anyone to get used to it, but sticking to what you’d started will help you to achieve this goal.
1. Make a budget.
Having a budget doesn’t only stand us a guide for your finances but it’s also a way for you to cut down all unnecessary expenses that you have.
Like for example, if you’re used to buy groceries without having a list, you’ll easily add things out of your budget. Since you don’t have a guide on what you need to have first, instances are you’ll focus on the things that you want rather than what you really need.

Now, if you’re not really used to list down things, this is your cue to start it if you really wanted to save up. If you don’t have any idea where to start, you can consider doing these steps:
STEP 1: Decide for a maximum amount that you can spend.
STEP 2: List down all the things that you need and categorized it into your priorities.
STEP 3: Decide on the things that you really need to have and cross out all the unnecessary things.
STEP 4: If your budget is not enough, you can simply buy it for the next month just to make sure that you’ll stick to your maximum expense amount.
STEP 5: Be consistent in doing this. Once you stick to your budget, you need to make sure that you’ll do it consistently so you can see your progress.
If you really want to save up and lessen your expenses, the change will be on your side. You need to fix your mindset in managing your finances well, so you can see the change that will come after.
2. Don’t put a large sum of cash in your wallet.
The more you have the means to spend, the easily you can give it away. If you already decided on the fixed amount for your expenses, better divide and settle everything right away.
You can simply put cash intended for your self-expenses rather than putting it all in your wallet. The tendency is that there’s a chance that you’ll used it as well and it may result on failing to do the first step which is Making a budget.
The strategy is to settle all your expenses right away before you use it to something else. You can designate different envelopes/wallets for you to keep the amounts safe.
3. Learn to say No.
People can’t get away from other’s who will ask for help. It’s a good thing though, but if you think that it’s not necessary to do so, learn to say No.
If someone wants to borrow money from you, you need to consider the urgency of the situation. Ask yourself,

Is it urgent?
Is it possible to settle it gradually like monthly or quarterly?
Is there any guarantee that it will be return?
If I lend the money, am I ready if there’s any emergency that will happen to me?
If you have the means and there’s a guaranteed answers from all the questions above, then go on. You need to carefully think of any cash out that you’ll do. This is to prevent you from having regrets and losing a sum of money just because you feel bad to say No.
Considering your situation first is different from being selfish. Especially in this tough time, it’s a must that everyone is financially prepared.
4. Save First before spending.
One trick that you can do to ensure that you saving is safe, deduct it right away once you receive your income.
Settle it and keep it right away in your designated banks. Once you already settled it, you’ll be able to manage your expenses well by just having your planned fixed amount intended for it. This tip can be possible only if you have designated banks for savings and expenses. If you only have one bank for everything, this is the right time for you to get one.
Don’t pool enough your money into just one outlet. Divide everything according to its purpose. The more you can see the amount you have, the more chances that you’ll keep spending it.
If you’re planning to have a separate bank for your savings, you can choose from different high yield savings back to make sure that your money is earning as well.
You can check this blog so that you’ll have an idea.
5. Keep a tracker of your expenses.
Having a tracker of your expenses will help you to keep tabs in all your finance activities. You don’t need to be an accounting major for that. Just like your mom who usually just right down the amount of their grocery items, you can just simply start there.
Write everything down so you can review back where your money goes. By having this, it will give you a glimpse of what are the areas that you need to work on. You will also able to know the current amount you save and spend by just having a tracker.


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