Set a goal for savings

How to stop wasting money

To start saving, you need to not only earn more, but also save more.

Follow the tips in this article. They will help to stop spending money on minor things, and curb expenses.

1. Set a goal for savings

Regardless of what you save money for, designate it as a clear and measurable goal. For example, buying an apartment, car or going on vacation. Having a firm idea of ​​what money is saved for, each person works on a task more collectively and more efficiently.
After you determine the goal, make a plan (personal card) that will help you reach the finish line. Such a “route” determines how much money you should save each month, taking into account your income and basic expenses. Planning will protect against excessive spending.

2. Define your budget

Costs should not exceed revenues. Therefore, know how much you earn and spend. Keep track of purchases and make daily entries in a spreadsheet. For this, Excel or special mobile applications. Over time, you will see how your money is spent every day, week, month and year..

The budget will help to analyze your personal financial situation and accurately find the holes in which money flows.

Keep discipline. Before each purchase, think how necessary it is now and whether it will be relevant in a week. This technique will remove the most obvious financial “mistakes”.

3. First balance – then expenses

Simply put, pay your basic bills before you go to the party. Not knowing the personal or family financial situation, a person is not able to spend money responsibly.

It may seem that people always roughly understand what kind of “monetary” situation they are in. But this is not so. A person learns this when there is a clear picture and a budget. So, expenses subconsciously become deliberate.

To stop wasting money do not forget about bills and obligations.

4. Take a pause of three days

Whenever there is a temptation to make a big purchase, set aside the intention for three days. Time will make it possible to sensibly assess the need for things.

This is enough time to abandon impulsive decisions and leave only the really necessary in the plans..

5. Eat at home

In the fridge and in the nearest supermarket there is food that is healthy, satisfying and several times cheaper than dishes from restaurants and cafes. Moreover, before going to the grocery store, check the refrigerator and kitchen shelves again – there are probably still plenty of supplies there. Eat before going to the store. Being hungry, we buy a lot of excess.

Focus on a simple rule: you need to go for food when there is no food in the house. It helps reduce food waste..

6. Take your food to work

Many people spend daily money on business lunches, canteens, and delivery services to dine at work. It is convenient and tasty, but it is completely uneconomical. By packing your homemade food with you, you save money and eat healthier.

7. Go to the store with the list

Make a list of what you need to buy before you go to the store. This tool works well against spontaneous purchases and will help stop spending money on unnecessary products..

8. Give up directories and email newsletters

Retailers are trying to attract attention through advertising catalogs and newsletters. They want you to open the booklet, and some regular action convinced you to buy. Just do not take this correspondence.

If you receive an electronic newsletter by mail, then unsubscribe from it. The link for this is indicated in small print at the bottom of the letter.

9. Hide credit cards

Credit Cards Can Be Man’s Worst Enemy, which the trying to save. Try to remove them in an inaccessible place. For example, a safe. Of course, there are no obstacles to get the card back from there. But the essence of this technique is to slow down the gap between the moment when the idea came to your mind to spend money and the one when you already hold the card in your hands for payment. A conditional obstacle reminds you why you hid the card, and subconsciously tells you that taking it now and inflating expenses is a bad idea.

10. Rent

When you are very limited in money, consider borrowing the right things from friends and acquaintances. Neighbor’s garden tools, a tie for a meeting, a suitcase, photography equipment – these things are needed for a short-term, so paying the full price for them is not always reasonable.

11. Create funded habits

Get yourself a separate can for the remnants of pocket money and stick a sticker on the vessel with the signature “Disneyland”, “Sea” or “Trip to the mountains.” Each time, putting aside even a small amount in the bank, you will feel better, because it brings you closer to a pleasant goal.

12. Do it yourself

Instead of paying a specialist for apartment repair, equipment breakdown or water supply, do it yourself. Service is convenient and beneficial when it helps with what you can’t do. In other cases, you actually change your free time to money that you saved. In the future it will be nice to say thank you for that..

13. Change things

Many of the things you have now have value. Remember this when you need to buy something. Try using services for sharing. There you can find the right product and offer in return your.

14. Find out the true value

When you want to make a purchase, specify its “true value” for yourself. Calculate how long it takes to earn the money you need for this acquisition..

For example, if you earn 300 rubles per hour, and you need 1,500 rubles to buy, you spend five hours of your work on it. Converting a cash price to an hourly price helps protect you from spending expenses you may regret in the future..

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