Making money is hard, saving it is even harder, thanks to Capitalism. People often say that you cannot save your way out of poverty; while it’s partly true, I also believe that learning how to save your money can help you build the life that you aspire to live. In addition to that, saving your money can help you prepare for rainy days and unforeseen emergencies. In this article, I will share with you, some of the ways you can effectively save your hard-earned cash.
How to Be Better At Saving More Money
1. Save a Portion of Your Income: This is a very common way of being frugal and prudent with your money. Once you receive your monthly salary, create a budget that highlights your needs for the month or week, and keep what’s left in a bank.
2. Be on the Lookout For Discounts And Sales: Who doesn’t love a good discount when shopping? No one! My favorite time to go to the mall is when groceries are sold for much less than the actual price. Don’t judge me, I like putting my money to good use. Discounts are a blessing to the middle and lower class for obvious reasons. With discounts, you can get more for less, and still get value for what you buy. Your favorite malls, hotels, restaurants, and more often have discounts during holidays. Always keep your eyes open for opportunities like this.
3. There is Rice at home: As a child, everyone had this phase: you pass your favorite restaurant and beg your mother to buy you what you want, only to hear the dreaded line, “there is rice at home,” so you end up sulking the entire way home. Now that you are older, you probably understand why she said what she said. Eating out is expensive, I mean, it’s fun to hang out with your friends in a restaurant, but it’s incredibly expensive, and doing it so often can cause a dent in your finances. Cook more and save more.
4. Sell Your Unwanted Gift Cards:1 billion dollars go unused in gift cards every single year. Two major reasons why this happens are because people receive gift cards to places they never use, or some people just hate shopping so much. If you fall into either of these categories, I would advise you to sell those Amazon or Sephora gift cards stuffed in your drawer, and either save the cash or use the cash to buy discounted things. To get the best rates, check out Cardtonic.
In the end, discipline is what ensures that you are not reckless with your money.