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Practical Tips On How To Save Money - Business - Nairaland

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Practical Tips On How To Save Money by DiaryOfThatGirl(f): 8:21am On Aug 04, 2018
Welcome back to my blog. Happy new August. May bank credit alerts drain your phone battery!

So, savings huh! Saving is a very delicate topic. In fact, money matters are usually very touchy topics.

The thing with saving is everybody is on a different financial level. You can't put an exact price to it but you can make it work with great effort.

Alright so first off, have a savings goal. I mean have something you're working towards that encourages you. Do you want to get a new house, car, a dream wedding, that stunning dress? Or any other thing. Have a goal.
Or maybe you're in a comfort zone right now and things are looking alright for you. You just might want to save so that you know that you've got stuff covered. So in this case you might set a goal to achieve maybe at the end of the year or the end of the quarter.
Now that you have a goal, make sure its realistic. Depending on your salary or pocket money if you're a student, you might have different percentage goals. I mean 10% of 200,000 and 10% of 2,000 isn't the same.
If you're trying to save and you're not exactly saving money you have nothing to do with, then you might want to review your expenses.
This is where you distinguish needs from wants.
Do you really need that extra pair of shoes when you already have 15pairs? Do you really need that extra set of jewellery when you have others collecting dust on your dressing table. Cut down on those extras darlings. You don't need it.
Next up is creating a budget. A budget is simply an outline of your money. It says where each penny and kobo should go. Now I know this might be hard to stick to but you just have to try.
Another tip on saving is saving before spending. Let me explain. If you have N5,000 and you want to save N1000, keep it aside. Don't go shopping with N5000 and expect to leave 1k.
Also on the shopping matter, avoid impulse buying. If you set out to get yourself basic toiletries, don't end up buying a cutlery set. Stick to the plan!
If you want to get a bank account just for saving, even better.
Determine in your heart that you wouldn't spend that money and better still don't get an ATM card for that account.
Next is buying things in bulk. If buy from wholesale stores you would be doing yourself a wealth of good. For example, a carton of indomie costs N2900. If you were to buy that singly it would cost you N3200. Now that might seem small to you. But calculate that over the number of years you've been buying indomie. You see?
Another tip for saving money is cooking your meals. Cooking in bulk and proper meal planning will save you money. Please learn to cook and prep your meals at home.
If you have not been saving, its never too late. Better late than never. It might be difficult at first but I can assure you that your hardwork will pay off.
If you've been on the saving gang for a while, kudos to you. Please keep it up.

Do stick around for my next post. And read up anyone you've missed


Toodles...xx

Please subscribe to the blog and drop your comments below. Let me know what saving tip has worked for you. Please kindly share this blog with your friends and family. I would really appreciate it.

Culled from : diaryofthatgirl..com

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