Wednesday, July 31, 2013

Learn Different Ways Of Saving Your Money

Some say love makes the world go round. Many now say money make the world go round. Money is truly a critical factor to living life on the earth as it is. Money defines power and capability. All issues in one way or another lead to money. Even the good book used by the Christians says, "Money answers all things". However, it is never about spending all the time. It is definitely wiser to save than you spend. This assures you of financial security and teaches virtues such as inner discipline, self-control and contentment. Here are a couple of ways you can save money

Cost effectiveness

Different brands are there on the market when you go buy stuff. Make sure to do your research before you use your purchasing power. This enables you to know what product is best; thus, your money never goes to waste. Without compromising on quality, you are also well equipped to choose what product to buy as the prices from different brands of products. It may seem like a small margin but cumulatively it amount to quite a lot, which is utilizable for other purposes or even save it. 

Avoid luxury

As the word suggests, they are not necessary and so it is best to avoid them when and if you can. If you will not need a new function, it is better not to buy the newest phone on the market that is fancy and instead remain with your former. Businesspersons would say there is no return in that investment. Some people even have the tendency of purchasing stuff without proper knowledge of it, just because it is new and advance. You would rather remain with your old school brand if it suits you comfortably. New is not always better. 

Save as you earn

Do not save what remains after spending. Instead, spend what remains after spending. In fact, such habits like smoking, which are expensive can be turned around by indulging good e-cigarettes to help you quit. This is an ideal practice, especially for those who expect something at the end of the month or the week. Develop the habit of setting aside a certain amount of money once your wages and income gets to you. It is best if you transfer it elsewhere and forget about it. It may come in handy during a rainy day, dealing with disasters and emergencies. It is always best if you are prepared. 

Avoid being spendthrift

Being spendthrift should be a great vice for one aiming at saving money. It creates the tendency of spending money in a way that you had not intended to in the first place. One, you get to buy something that you do not really need. It was never initially on your mind as you went out. Most probably, you liked it because of its attractiveness or good bargain. Two, you purchase the item at the expense of another. It is always best if you do not walk around with cash in close range e.g. in your pocket if you have this habit.

Remember that wasting is the opposite of saving. Therefore, apart from setting money to the side, it is also quite helpful if you cut down on costs, especially those that might be unnecessary.

Author Bio

Alisa Martin is a renowned financial adviser all over the country. She also has a passion of keeping her followers informed, thus writing various and diversified topics in her blogs. She is also in the lead front in technological advances, well known in the light of ego ce4 and much more.

No comments:

Post a Comment

Join 1000's of People Following 50 Plus Finance
Real Time Web Analytics