Surely you already at times had a situation whereby the end of the month you simply can not remember where you spent a certain part of your money? In reality, this is due to the fact that you do not control your finances and make a lot of impulsive purchases, which does not allow you to avoid unnecessary expenditure of money. Honestly, most of these acquisitions are rarely useful. But all this money could be saved and accumulated a tangible capital afterward!
And then you just read about the most effective ways to save money and accumulate absolutely any amount. You can be sure that this is quite an interesting and fascinating process, through which you can not only accumulate the necessary capital, but you will not feel any significant limitations in the quality of your life. And if you approach the following recommendations with all the attention, then you can easily save up to 20-30% of your income and even more. So…
1) Set aside small bills
Try to save and postpone small bills after each trip to the store or any institution. Only 50 rubles a day will give you 1500 rupees a month. And for the year will accumulate the amount of 18 000! Naturally, for greater convenience, all these small bills can be exchanged for several large ones.
2) Avoid impulsive purchases
It is extremely important to learn to avoid making impulsive purchases. How tempting it would seem to you advertising, and no matter how attractive the attractive price, be sure to think for 24-48 hours about whether or not you really need that purchase. Due to this you will get rid of the possible disappointment in the acquisition and, of course, save.
3) Record all expenses
Also, avoid the unnecessary waste helps and the next tip – be sure to fix every purchase or waste, even including travel by bus. Keep your checks or carry a small notepad to record your expenses. Keep a record of your expenses and regularly analyze how efficiently the money was spent, and without which you could completely manage.
4) Plan spending items
Clearly determine for yourself what amount you need to pay for housing, food transport, etc. This will be your individual expense items. And now you can clearly know what means you need to live, avoiding the temptation to spend free money.
5) Set short-term financial goals
Set for yourself not only large-scale but also short-term financial goals. For example, the receipt of additional income in the amount of 1000-2000 rupees per month. From the psychological point of view, it is much easier and easier to reach them, since for such accomplishments it will not be necessary to spend a lot of time and effort. And, as you know, small victories lead to even greater achievements! But here the information on how to avoid unnecessary waste is just beginning.
6) Give up cafes and restaurants
Lunch in various cafes or restaurants is not always the best solution. Wear cooked food in special plastic trays with you. Home food is always tastier, and it’s not worth it to be embarrassed by colleagues. It is possible that they will soon follow your example.
7) Make lists of purchases
We can say with confidence that the advice on making a shopping list before going to the store is familiar to everyone, but for some reason, only a few follow it. Be sure to prepare a clear list before each shopping trip. Thanks to this you definitely do not buy excess and you will not forget why you actually came to the store.
8) Pay off with debts and credits
Try to get rid of various debts and debts on loans as soon as possible. By closing your obligations to creditors now, you will get the opportunity not to overpay extra interest in the future.
9) Sell unnecessary things
Get rid of unnecessary things in your home or basement. Most likely, you can find a lot of items that are already useless to you, which you can easily sell on the same Avito and other boards of free ads on the network. Perhaps the revenue will be small, but it will be one more step towards your goals.
10) Give up fast food and convenience foods
Forget about all kinds of fast food and half-finished products – this also allows you to avoid unnecessary expenditure of funds. Try instead to buy natural food. So you save both your health and your finances. In addition, independent preparation of food also raises the mood.
11) Quit smoking
A banal, but still effective recommendation – quit smoking if you have such a habit. It is easy to calculate that for a year this “hobby” you take about 15 000 rupees or more.
12) Set the counters
Follow the expenditure on electricity and water consumption. Here it is enough simply to remember the need to pay for these services and not to waste resources. It will be an excellent idea to install the appropriate meters so that you do not overpay in the future for your neighbors.
13) Buy quality products
As everyone knows, the miser pays twice. Most likely, you are already convinced of the fairness of this saying. A quality product, of course, is more expensive, but in the process of using it is much cheaper.
14) Refuse from purchases in debt
Try not to pay for anything by future profits. Of course, we are talking about debts and loans. In the long term, it is more profitable to show patience and accumulate the necessary amount on your own. In addition, during this time you will be able to think over the rationality of such a purchase.
15) Compare Prices
Always compare prices. You can be sure that even in a nearby store you can find the same vacuum cleaner for several thousand cheaper. In addition, at present, there are many services for comparing prices on the Internet. For example, one of the most popular of such sites is Yandex Market.
16) Give up stress
There is such a category of spending, which is called stress expenditure. They are characterized by a waste of money for something unimportant for the sake of relieving nervous tension. Instead, it’s much better to communicate with a person close to you, take a walk in nature or just have a good night’s sleep.
17) Disable unnecessary services
Spend a couple of minutes of your time and find out which services are connected to your bank card and cellular operator. For example, such features as a melody instead of hooters or SMS-notification of spending operations can cost about 300 rubles a month, which equals 3600 rupees per year.
19) Consider each purchase
If you still managed to come to the store without a pre-made shopping list, then before stopping to buy something, stop and think for 15 seconds – do you really need this thing? If a decent answer is not found, then to avoid unnecessary waste, put the goods back on the counter.
20) Rent free real estate
If you have any free living space or garage, then rent them out. Naturally, this process should be properly prepared and protected from possible risks.
21) Use discounts and bonuses
Look for discounts and use accumulative bonuses for purchases on the Internet and in real life. For example, now there are a lot of cashback sites for the return of a portion of the money spent on the purchase. Similar services are also available in many bank cards or cards issued specifically in stores.
22) Do not give up work
Do not neglect the proposals for small earnings. Only a few such sub-jobs, especially if it concerns home work, can already significantly increase your monthly income.
23) Do not carry extra money
Do not carry with you any stock of extra money, so that there is no temptation to spend it. You can be sure that if you have a free amount of money in your wallet, the desire to make unnecessary purchases increases significantly.
24) Draw up a financial plan
The next three tips on how to avoid unnecessary waste should be given special attention. So, be sure to make a financial plan to clearly identify your sources of income and a specific goal setting. And with clearly defined priorities, it is much easier to make the necessary actions and achieve your goals of saving, accumulating and earning finance.
25) Keep records of income and expenses
Be sure to start managing your personal budget, that is, the full accounting of income and expenses. To do this, you can download special programs for accounting for finance for a computer, smartphone or tablet. You can also record all money transactions in a notebook or notebook. The main thing is to do this constantly and turn such accounting into a useful habit. Just this action will allow you to find financial holes and eliminate them with significant benefits for your wallet.
26) Start investing
No matter how much money you accumulate, do not keep them all under the pillow. Financial savings must necessarily work, otherwise, they will simply be eaten by ever-growing inflation. Start investing and multiplying everything that you managed to save. With a patient and competent approach to investment in just 2-3 years, you can generate sufficient capital, the income from which will significantly improve your financial situation and, quite possibly, will allow you to live on interest, freeing up a lot of your free time.
As you can see, all these recommendations are quite simple. But, as you have already seen, together they make it possible not only to avoid unnecessary expenditure, to competently and without much effort save up to a third of all your expenses, but also to reach a completely new level of earnings. Good luck!