When you pay attention to your money, you will find it easier to save. Here’s how to be more mindful on how you spend.
1. Think before spending
It’s end month again, and your salary is now in your account. You cannot wait to buy the nice shirt you spotted along the street, but wait, do you really need it? At times spending less cash is all about becoming more aware of how money leaves your wallet every moment. Whether it is going into luxuries like expensive dinners or out to necessities like school fees, it pays to track your expenditure.
2. Organize what you have
If you are not aware of what you own, you are likely to buying double. That is why you should start by first organizing what you have in your home. Get rid of the items you do not use any more so that you can clearly see what is in your cupboard and closet.
3. Reward good money behavior
Whenever you meet targets, it is important to reward your efforts. Patting your shoulder whenever you meet a target will go a long way in reinforcing positive behavior. You do not have to reward yourself with money. Even a simple bubble bath is enough.
4. Use cash
Consider paying with cash rather than credit cards. That way, you will be more conscious of your spending habits. When you get accustomed to paying for purchases using plastic, you will not realize when you go overboard. Withdraw the money you need for your weekly expenses and use it to pay for purchases you make.
5. Take time to shop around
When making large purchases, you will be surprised to notice the big price differences between stores. Therefore, it is advisable to shop for the vendor who offers the best rates before you settle for anyone. That way, you will end up making huge savings that will pay off in the long run.