The First Tip is to learn how to spend:
To get ahead and stay out of debt we need to learn to spend less than the money we make. This makes sense, but how do you spend less than the money you make?
Apart from the need to spend on our basic living of food, water and shelter, we need to learn to spend money on the things that matter, which will make a difference to our everyday living. By cutting down on our costs and saving what ever we can. This will provide us with the financial security for a comfortable life hassle free of debt.
Using the credit card has become easy. However, we should only use the credit card knowing that we can pay the balance off when it is due. Otherwise paying for the privileges of using the credit card will become a burden and accrue unnecessary charges that will eat away our hard earn money.
Budgeting for big item expenses, treats and holidays should be considered a way of living within our means and not looked at as being a chore. Encourage your children to save for the things they want to get. This will help them understand the value of money. Remember to spend on luxuries now and then as a reward. This will encourage us to be even more vigilant in saving.
The Second Tip is to invest:
To save money we need to scrutinize how we spend it and then learn how to invest it wisely. We need to find risk free investments knowing that even though we may not get the highest return, at least our money will be safe.
The Third Tip is how to stretch our dollar further:
The cost to hire someone for their services is high. Learning how to do it ourselves will help us save money on labor costs. Learning new skills to help us with maintenance around the house, the car, and our wardrobe will go into saving us money for the things we can do instead of paying for the service.
Instead of hiring a plumber to replace a tap washer, or the mechanic to change the oil, or the seamstress to hem our trousers; these are skills that we can easily learn and use. And, as we become more skillful in doing these maintenance jobs we may even be able to charge a small fee to help someone else and earn some extra money.
The Fourth Tip is to understand how we use things and how this can lead to savings:
We can save by reducing and cutting down on our dependency of items like the car, the clothes dryer, the air conditioner, the take away shop. Planning ahead will be necessary if we are serious in reducing our costs. For instance, we may need to allow more travel time to catch the bus or ride our bike to work.
We will need to plan our meals in advance so that we don’t rely on last minute’ take away for that evening meal. Look at combining errands. If we must use the car, consider how we will travel and what else we can do on the way to or from work that would save on an extra trip.
The Fifth Tip is to avoid retail therapy:
We should not go shopping when we feel vulnerable, such as when we feel lonely, sad, depressed or even hungry. Retail therapy is just what we are conditioned to think and that means spending money on items which we may not really want or even need.
The Sixth Tip is to keep ourselves fit and healthy:
We should stay fit and healthy, which means eat well and exercise. To take a walk to the beach or the park is a great way for us to appreciate the outdoors and breathe the clean fresh air. Not only will we get our exercise for free, but connecting to nature is a whole body experience mentally, physically and spiritually. Also, consider visiting the Botanic Gardens, the Zoo and special places like the Planetarium. This will give us an appreciation of the wonderful and amazing world we live in.
The Seventh Tip is to look after our environment and reap the savings:
Buy energy efficient appliances and consider buying used items such as furniture and provide them with a second (useful) life. This will help reduce dumped goods to the tip and that’s a good thing.
Buy the best quality you can afford on items you use all the time. Don’t buy into the throw away mentality and be mindful of the short time trends’. So, shop around and get the best value for your money.
Look out for specials and only buy in bulk the items you use. This saves you money. This also saves on packaging and needles rubbish. Use the magic’ cleaning cloths and save a heap on cleaning products.Remember to compost leaves, vegetable scraps and lawn cuttings. Save seeds for replanting and don’t forget to mulch your garden.
Don’t waste money use it to better serve yourself.