Money saving and why it is good to save, as we all life is hard and the truth of the matter is that it did not start today and is definitely not going to end today! There are many reasons for that though, but the top among the list is Money issue. How do I/We get money to do this or that has been question on the lips of an untold number of people around the world and the questions keep getting bigger by each passing day because, with money so many things could be taken care of and those things that sometimes sound as if without them something unusual would take place; will all be put to rest with less noises.
You see, we all need this money no matter how some of us may claim or religiously pretends. Put simply, the size of one's bank account either boosts his morals or demoralizes him. If you have some money kept away aside from the ones you deep hand regularly for your expenses, the rate of your confidence remains stable and your levels of anxieties minimizes.
That's just the fact. It all boils down to money and since we know this, the question now is, how do we manage our resources in order to have some savings for the inevitable rainy days or some unforeseen that sometimes take everyone of us unaware? Well, this article may not be the first of its kind that we have come across, neither is it going to be the last as long as we remain alive, the simple fact is that all the tips and advises on money saving works if put into practice. The major problem with us is the discipline needed to have that achieved.
This is going to serve as a reminder especially at this time that we have just stepped into the near year with all sorts of resolutions that come with it. We have to really know the benefits of saving and staying dedicated to it all times despite all other things here and there that are capable of diverting our attentions in putting some little cash away for the unexpected, even when we are not praying for same.
When it comes to saving, no amount is too small and your salaries has nothing to do with it as long as you could afford even a bottle of mineral from that your salaries despite how meager it is. So as little as 20 to 30% over time could do the magic and would enable you to manage crisis as if you were expecting them in the first place; but which is not, only that you prepared before hand.
Permit me again to probe a little into your into your privacy. What about that big or small project that you had planned over time and probably still planning due to no money to execute it up to this moment?
Do you also know that by cutting down on some necessary expenses could help you to bring it to life? Hope you didn't fault my use of the word 'necessary expenses' yes, because if what you are saving for is necessary enough to you, then it should sound reasonable that the sources to have it achieved be also necessary.
So go ahead and save, you can surely survive with your basic needs for the mean time and every other things can wait until you achieve your project. Even if you don't have one at hand for now, view saving as a project. Added to this article, are some helpful and practical tips to enable you cut down on your expenses and be able to safe.
Below Are The 10 Tips That Would Enable Money Saving
1. Have Fun For Free
People love to have fun and feel refreshed after the long hard day or month's work, but that doesn't mean that all your earnings could go into having fun either with your family or friends.
Going to the clubs or at the movies to have fun may look and sound nice, but do you know that those monies you could spend there could be redirected into something else which could serve better purposes?
If really you can't go without having fun with friends and family at either clubs or in movies, then do this as an alternative:, download movies online and invite friends to have some nice time together with some little refreshments to go along with it; after all they have a home to eat. That could save you nothing less than N10,000 to N20,000 that you could spend at the outings.
2. Avoid The Impulse Buying
Days are gone when you are tempted to buy only while passing by those beautifully displayed items along the roads or in those nice and well stocked boutiques all over the places.
These days, almost every thing are at our fingertips. If not through the unending adverts on the radios, it's on the TVs, but that still give us some times to make up our minds either to buy them later or not. With the modern technology, through those sophisticated or not (Palasa) China phones in our hands, we are always being bombarded with messages of buying one thing or the other as if our life depends on buying.
Falling for them could be just a click away and alerts from your banks confirms it to you that some cash has been deducted from your account. Get the ideas right here, we are not against buying, but it will always make a big difference if we allow ourselves some few days to really think things out before making purchases especially when it comes to those items that are not urgent.
Impulse buying hardly fills any basic needs but it rather put unnecessary holes into our pockets, destabilizes our savings accounts and fills the house with unwanted items. It's always better to wait before spending because you equally waited before that money came into your hand.
3. Exercise or Workout For Free
Exercising is very good for our health and highly encouraging!. On the average, a gym membership in Nigeria costs between N20,000 to N30,000 a month. Multiply that by 12 months and see how much you get. But do you know that such huge amounts could be saved by doing all that for free?
Reverting back to squats and other forms of exercises that can be done at your own spare time daily or weekly and at the comfort of your home. More so, you can come together with friends and team up while encouraging each other and do that absolutely for free without paying a dime.
4. Cut Back On Eating Out
In this time and age in Nigeria for instance, eating out is very expensive especially while trying to save money at the same time. There is nothing wrong if you can pick some piece of hamburger once in a while as long as it's not a regular thing.
In Nigeria for instance, what a person spend eating out in a day could conveniently cook good nutritious food for a whole week. Generally, cooking at home is cheaper and would not only improve your health alone but your savings as well.
5. Get a Roommate
We all need comfort and want to live undisturbed and in fact, free from any form of inconveniences but the only place to have that completely achieved and all forms, is in the grave.
We do not want to make life harder by placing unnecessary burdens on ourselves by having all those bills on our head when we can conveniently share it with a roommate. A cooperative roommate is always a blessing not in disguise but real and practical. Sharing your apartment with a roommate enables you to save up for something better.
6. Bonuses, Favors, and Refunds
These all comes to us at various times and seasons in life and sometimes some of us have it more regularly than others, but do you know that it can serve some better purposes when you needed it most apart from that easy ways of quickly spending them as if you given an immediate command to do that.
It can be so tempting to spend such funds but you will be doing yourself great favors by pretending as if you never received them and immediately putting the money away. After all, were you not surviving without those extra funds? It won't kill you by not spending it immediately.
7. Produce Your Own Products
How about producing some of the products that you use by yourself? Depending on where you live, having a small garden can go a long way to save you some money that could have been used to buy them at the markets. Some housewives learn how to make soap and other things like sewing, but the good idea here is to think of what you use mostly and consider producing it yourself and even selling same to others and make money at the same time in addition to saving.
8. Go Basic With The Use of Cable
Unknowingly but religiously, many people just for a show, keep on paying for an expensive cable package that offers thousands of channels when they can only watch one channel at a time! If your work doesn't have much to do with all those happenings at various locations around the world, why then do you want to keep pouring your resources into the bin?
That premium cable package is not necessary for you if out of 100 channels for example, all you could manage to watch are only 10 at most by the end of the month. Instead of that, why not downgrade to basic package and have the excess money put into your saving account.
That also includes the rate of your monthly data subscriptions. If you work most of the day for instance, where then do you have time to exhaust that expensive subscription for your devices? At most you use between 40-50% of the data and the rest expires with the duration. Think seriously about that.
9. Piggy Bank...., Have You Thought Of That?
The adults usually look at the idea as childish and only refer to it as children thing; but is it really so? Let's look at it this way, most of things we have today all began with little things that eventually added up, even our growths from childhood to the status of full grown adults, all started from being those small kids. And even as the adults, there are things we all aim at starting and watch it grow to something big, what then makes that little changes being dropped into that small tin or whatsoever different?
Hmm!, you won't believe this: that little changes in your wallet, car, purse etc that are gathered and put consistently into the piggy bank may surprise you at the end of the month. And from there, if you are really serious with saving, you transfer it to your bank.
10. Pay Yourself
Do you know that aside from every other expenses that you makes, your very self comes first? For instance, you pay your driver at the end of every month for driving you to the office, what if you are the one driving yourself, how much do you reserve for yourself as salary or whatsoever?
We need to think that way to help us analyze things rightly and save up for the rainy day. ...For sure there are other areas that are open for us as individuals and which we are the only ones that know them inside out.
So let us rearrange ourselves properly and live responsible life that would benefit us all through our life and not just during our hay days of working in that particular office or doing a said work which may be here today but could as well go extinct tomorrow. Imbibe and retain the cultures of saving for it lessens our worries and gives us some unexpected lifts in life.