Ways To Save As A Big-Time Money Spender: Growing is not all about our physical looks or appearance. It also has to do with our ways of thinking and doing things in the right way.
Our growth also counts when it comes to things we spend our money on and how we do our budgets in other to save for the future.
As an African adage will say, “we fetch water down for future thirst” this simply means one must plan for our future ahead through saving.
With little insight into what saving is, we can best describe Saving as income not spent or deferred consumption which some methods we as individuals can save involve putting money aside in a deposit account, having a pension account, or an investment fund it another way involve reducing expenditures like recurring costs.
Some people are extremely frugal when it comes to spending money and this can actually be considered as the best gift of nature while some find it very difficult to save money because they have the tendency to overspend.
ALSO READ: List Of Companies Owned By Bill Gates
And this can actually mean a whole lot of trouble because the act of managing what they have is far away from them with this act, it takes a lot of practice and learning the basics of money management for them to become more financially sound.
Some of us mostly concern ourselves with many expenses such as buying branded items, renovating our houses at the wrong time, etc., and with this, it’s always very difficult for saving no matter how we try to, saving becomes impossible due to facts that some needs must be attended to.
However, we don’t need everything to magically line up perfectly before we start saving money because if we keep waiting for the right time to roll around, it is never going to show up so the best time is now, we must start saving now.
Let’s consider these few ways to save as a big-time money spender;
6 Ways To Save As A Big-Time Money Spender
1. Wait for sales and promotion:
This has to do with things we purchase. We all know new items always come with huge bills on their arrival but when it gets to some point, they are reduced and brought down to promotion which enables everyone to purchase them.
Slowing down your purchase to the promotion period doesn’t mean you’ll never have your desired item, it will rather bring benefit to your wallet as you won’t have to spend much on that product. So it helps to save money without even lifting a finger.
2. Be more patient with your purchasing:
Sometimes you finish purchasing a particular item and then you start questioning yourself what actually useful is that item to you.
Yes, this is very common and 99% of us can relate to this. We can put a stop to this by taking a beat and breath thinking before making a purchase.
You must consider your purchase more carefully and give yourself more space to examine your reasons for your gravitating towards the purchase as this helps to put a stop to impulse spending.
3. Cut down brand names:
Interestingly, the easiest way to save money is to give boots to name brands. Insight, the only thing that is better about brand-name products is the marketing, their fancy logo and that’s just everything.
Though getting caught up in brand names is a nice way to keep up with the Jones but friends it is also the best way to make you penniless in a twinkle of an eye without single stress.
To save money, let’s cut down much spending on clothes, smartphones, household products, and other stuff by choosing simple store name brands or off brands since they all have the same qualities.
By doing this, we can save the remaining money on that item.
4. Avoid too many expensive vacations:
When you have the edge to save money now, vacation is the worst thing you could spend your money on.
Try a staycation and see the good outcome. Instead of going on trips outside the country with your lover or family, you can try to be a tourist in your own city just by taking them to decent places where things cost less this will help to save money on flying tickets and other stuff you would be needing.
5. Purge all extra subscriptions:
Staying current with things is good but too much of it is bad as we know too much of a particular thing turns out to be poisonous to us as well. As we continue to find more monthly services that we like, it is very easy to rack up subscriptions.
Getting addicted to food delivery, video streaming services, renewing and subscribing to more new DSTV channels, and more can really make us end up spending more than we could ever think of in a month without even realizing it.
To save money, we must really reduce what we subscribe to and find pleasure in the ones we have.
6. Cutting down too much and expensive groceries:
Most people are always shocked to find out how much they’ve actually spent at the grocery store each month. Walking into high grocery stores has this particular impressive feeling but we don’t need to always be moved by what society thinks of us.
Most people consider that when people see you walking into a high store and purchasing things means you are rich and therefore deserve respect so in doing this, they end up spending money to buy six items on just one.
Funny, this is really very wrong stigmatization. I bet a rich person doesn’t care what people say about him or her because all his thinking is mostly about how to get money. Items in first-class grocery stores are the same as the ones in low-class stores and more affordable with the same qualities.
We can save money by removing this stigmatization and adjusting ourselves by doing according to what we have. Avoid going into the big grocery stores to spend huge money on groceries cheaper and the same groceries can easily get in the local stores as well and this will also help to reduce the cost we spend in purchasing them.
In all, let’s all make it a habit to save money as this helps bring comfort to us even when things seem tight as some African elders say “Your brother’s pocket cannot keep your wealth. When you are rich, you are hated, when you are poor, you are despised. What is sweet in a fool’s mouth will surely finish is Money. Money is like the waters of the sailing river it flows away”.