How to spend less and save money | A Hint of Rose: How to spend less and save money

29.3.16

How to spend less and save money

How to spend less and save money | A Hint of Rose How to spend less and save money | A Hint of Rose

Last week, I talked about how to change your relationship with money, how to go against the consumer society to live a simpler life. So today, I wanted to share a few things that I do to spend less money, and therefore to save more money. Just keep in mind that everybody is different and some things can work for me and not for you, but I hope that my tips will inspire you. And also, everybody has its own reasons to spend less money, it can be to pay your studies, to not be in debt anymore, or just to be able to finish the month peacefully, or like me it can be because you want to build your dream house, every reason is OK.


1. MAKE A BUDGET

This one is an obvious one, but a lot of people don't actually have a budget. Keep a budget will help you to track all your incomes and your expenses, it allows to know where you spend your money. Maybe you don't think your daily coffee is a big expense, but with the help of your budget, you can realize that at the end of the month you spend a lot of money on coffee, more than you thought. I took the example of coffee but it can be anything depending on your values, I personally think that coffee is not a necessity but it can be important for you and that's OK.

2. AVOID IMPULSE BUYING

If you want to be responsible with your money, you want to avoid impulse buying at all costs. You know when you're about to buy something, you're on a "high", you're excited and you don't really think properly, well you want to avoid this feeling. What I do for that, is that I have a wish list on my phone. Every time I want to buy something, I write it on my list and wait for a month. At the end of the month, if I still want it then I'll consider the option, but most of the time I forgot about it or I don't want it anymore.

3. DON'T BE BLINDED BY SPECIAL PRICES

Have you ever bought something just because it was cheap or on sale? I did that... The thing is that promotions are always on rotation, so if something is on sale right now, then it will be on sale later. Put the item on your wish list and wait until the "high" is gone and see if you still want that, then you may consider waiting for the next sale to buy it (it won't take long).

4. THINK LONG TERM

I've talked about it in my last video, sometimes investing a little bit more at the beginning can help to save money in the long run. In our current consumer society, we are asked to always spend more because trends are always changing. Some clothes stores have up to 12 collections per year!! Obviously, a higher price doesn't necessarily reflect a higher quality, but if you buy a 5$ T-Shirt, there are great chances that the quality is not here, and the concept is the same for everything. So think more about the quality instead of the quantity, sometimes if the lifespan is doubled or tripled, it may worth the money to invest a little more at the beginning.

5. DON'T FORGET ABOUT THE LITTLE THINGS

I mentioned this in my first paragraph, small expenses can be very sneaky. We don't realize it at the time, but when we look at our budget at the end of the month, or even better at the end of the year, it can be a shock. The positive side is that it's not difficult to save money because sometimes you just need to buy less coffee, of eat less at the restaurant, instead of killing yourself doing overtime at work.

And you, what are your tips to save money? I would love to know and try them!

Marjorie

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