Easy strategies to save money

September 27, 2018
Wellness - Money

SAVING money is not an easy task especially if you having nothing left in your budget to save. And this is true to many ordinary workers or employees who live paycheck to paycheck to make ends meet. What more to a spendthrift and recklessly wasting his money buying unnecessary things.

No matter how much you earn or if there’s anything left, saving would really take guts for anyone to do. Here are some easy strategies to try.

* Buy and save. This must go while buying and saving at the same. It is not of the same amount to save but a percentage of the amount spent. For example, you decided to put aside 10 percent (that’s quite good) of every purchase. A new shirt let’s say would cost P500, a 10 percent of it is P50 you have to save. If you do this every time you buy something or eat out at a restaurant (if you know how to give tip, learn also to give yourself a tip to save), you are making huge savings by the end of the year.

You may increase your ceiling soon.

* Make saving in stages. This method takes a year or 52 weeks. The point is to save a bigger amount every week than you saved the week before.

For example, start at P5 in the first week. Next week double it or make it P10 and so on. In short, you add P5 every week to your previous savings. You’ll be surprise how much you’ll get before Christmas.

* Penalize bad habits. This is surely a fast way to save (if you have plenty of bad habits). The point of this method is to put aside a fixed amount of money for every bad habit that you have.

For example, if you put aside P20 for every bad habit every day, you are saving P600 a month for one bad habit. The more bad habits you do, the more savings you have, right? This will also motivate you to set aside bad habits if you have nothing extra to pay for it.