Consider a spending fast every few months to stop all unnecessary money and to put the money in your bank. Know the sales cycle, so you know the best time to purchase every item. Consider shopping at consignment shops and thrift stores to save money.
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Donāt waste money on unnecessary things
Spending fasts are great. I use them to again get āused toā not spending unless budgeted and essential.
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I do this: I ask myself can I live without this or not? Or the other times I can think of, I use to go out to the ice cream truck from time to time and then I figured that if I dont go out there to buy it,Iāll have the money for something else. So I decided to not go outside. So instances like that is how I come to save money. And when I go to the grocery store I normally go with a grocery list and for the most part I wont get anything that is not on the listā¦sometimes I cheat, but for the most part I dont.
And for the most part when it comes to buying things on the internet I dont go to sites that I wouldnt go to unless I am looking for something, thatās the only time I will go to Amazon or places like thatā¦
For the most part i try to live below my means and recognize what my needs are and what my wants areā¦I had to teach my self thatā¦its not easy, itās sometimes hard, cas we live in a world or rather a country where we are bombarded with buy, buy, buy this or thatā¦So we have to train our selves to recognize our weak points and really train ourselves to not to do certain thingsā¦if we do that we will be ok and not be in debtā¦
Now some people feel they have to be debt but thatās not me. I feel like if I am in debt its bc I choose to be, itās not that anybody forced me to beā¦so we have to live with our choices, but we can learn from them. Thatās how I see itā¦
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Frankly speaking you gats make trading to make a huge savings
When you want to buy items, consider two days. Maybe after two days you do nāt feel the need to buy these things.
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There are many strategies for saving money. It isnāt always easy but if you really want to save, you can do it. The main thing is to use your head, not your emotions, when you want to purchase something. The only one who can help you save money is yourself. Itās very easy for someone else to tell you, āJust donāt buy it!ā but ultimately you are in charge of your finances.
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To save, every single category is fair game for a trim. Start with a baseline budget or as Donna Freedman puts it, your āFinancial Fire Drillā. She asks you to imagine (or if youāre actually in that situation) a loss of income. Thatās where you start. The bottom line amount on your actual needs. Housing. Utilities. Food. Clothing. Transportation. Then figure from there. The difference between income and outgo is the amount you can save. // As far as techniques used to help you save, there are many. Have part of your income automatically siphoned off into a non touchable savings account or investment. Use cash for purchases. Save change in a jar. Save $1 bills or $5 in a jar. Freeze credit cards. Cook at home. Buy used, (clothes, car, etc.) Barter. Etc.
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Thatās fine on setting up a separate category for savingā¦but thing with that is that u need to self disciplined to not touch it. I believe strongly that if u just watch how you spend yr $$ youāll be fine.
Now if yr a spender, a person who needs to keep track of what u spend then try something that has been already suggestedā¦but for a average person who just wants to keep track of their $$ itās not nearly as a need as people thinkā¦yes, I use the envelope system which is what I picked up from Dave Ramsey which I find to suit me, but you may need some other system to wrangle in yr spending to begin withā¦but if your just wanting to watch yr spending theres no need to jump thru hupesā¦
Try writing down yr spending, to see where you need to wrangle in the $$, but think of it as a game, not as a chore, cas if u do it that way, you wont be too bored with it and it wont get tiring or you wont throw in the towelā¦you see what Iām sayingā¦
And you can listen to podcasts but after a while you may want to use some of their ideas but you may want to go it aloneā¦cas that way, if yr successful you dont have to thank anybody, but yr self and that way it boosts yr self confidence and then youāll be on a rollā¦
Or when it comes to setting up a separate account in yr bank, dont take it from me, but that will only annoy you more cas youāll just want to check it from time to timeā¦just keep your $$ in the same account and just keep track of what you have, thatās all. What I believe is if you keep your needs and your wants under control youāll be okā¦
You see a need is Food, shelter and clothingā¦thatās itā¦!! Anything aside from those things are WANTS! So its yr choice, what will you do with yr wants? Will you allow them to be the voice in yr head telling you, You need this or elseā¦!!
So just ask your selfā¦thisā¦If I dont get THIS, what will happen??? Will you be unhappy? A loser? A wimp? A person who nobody will like? Are you doing it to impress someone else other than you??
What we buy says alot about who we are as a personā¦think about thatā¦let it sink inā¦Do you really need that new iPhone or those new shoes? Or whatever it isā¦do you NEED it, or do you WANT it? Theres a difference fokesā¦Just remember that when yr bank account is emptyā¦take a look at that thing you boughtā¦get the picture?? If we control our minds, we can control what we buy, what we have in the bank and so forthā¦it comes down to self controlā¦a simple thing but hard to do, if you have not recognized the difference from what your Needs are from your wantsā¦or desiresā¦what we think about is what will manifest in what we do with our time, money, etcā¦
So pray for self controlā¦Philippians 4:13 God is the one who gives me powerā¦so get to jtā¦
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Wow! Thatās a lot of information. In the last couple of years I have been paying more attention to what is a want as opposed to a need and mostly have stopped myself from purchasing something just because it is a want. I think this lockdown has been extra good for me because I realize more and more how much stuff I have and donāt use, so I am certainly not going to buy something else. I wish it would end though so I can have a yard sale and sell some of the excess that I have and also donate some to Goodwill, Salvation Army or some other organization to clean up my house.
Keep saving, everyone!! And stay safe!!
I really like everything you said, Olivia!!! Please keep giving your strategies. I do some of what you say already, but I intend on putting more of your ideas into my planning. Thank you!!!
