At some point we all had one thing or another we wished we had more than enough money for but it wasn’t available at that moment, maybe money saved up somewhere might have been of help but that never existed either.
My saving journey started when I decided to take my first trip around the Philippines in 2011.
For the fact that I just returned from another country, If I had to tell my parents about traveling again, I would have to be smart and come up with some of the money so they can give consideration of paying the rest, and trust me it always works.
I have saved a lot of money using this tips over the years and it has landed me in many countries and helped me on the “rainy” days like I call it (when you are broke).
1. Open a fixed deposits account or Get a piggy sealed pot: this was actually my first saving method, I had created a wooden piggy box which I dropped 100peso (less than $3) everyday as I came through my door and any other amounts I felt like depositing in it when I am in a good mood. The day I broke the box which was after 7months I was able to generate $494 after conversion.
Just keep putting in money, it’s a one way post, you have to be disciplined about it and forget the money exists until it is needed.
2. Have a budget: draw up a particular amount of money you want to use to embark on every activity or purchases you do, it helps you keep track and avoid unnecessary spending.
3. Before you spend, save up: Whenever I spend before saving I end up with little or nothing at all to save so commit yourself to a particular amount each day, weekly or monthly and save it immediately you get your allowance or salary.
4. Decrease inessential spending: Note all the things you spend money on and cut out all the ones that aren’t so necessary. I know It’s easier said than done but it will help you save more money than you can imagine.
5. Have a specific goal: how much do you want to save in a day or week or month, note it, be realistic with yourself when doing this so you can achieve it.
6. Focus on the WHY: what is the reason behind your savings? Travel, housing, car, children. Whatever the answer, focus on it, so that you will be motivated to save more.
7. Shop more on sales day: I got this from my aunt when I travelled to UK, she does her shopping for winter when they are entering into summer cos most things are on sales and vice versa.
8. Cut down or Quit takeouts: it’s time to cook home made food, it’s cheaper and healthier.
9. Decrease or run from party time: if you calculate the amount spent on partying alone that you could have saved, you will be surprised. Each gathering comes with spending depending on where the get together is holding, if it’s inevitable to attend parties, decrease to only the super important ones.
10. DIY stuffs: it’s simple, do it yourself if you can instead of spending excessively on it.
How do you save more money for yourself? If it’s missing in the list just add it in the comment.
Lots of Love
Pic credits; Google image