Archive for the ‘Saving Money’ Category
Stop Spending and Start Investing
“She works hard for the money. So hard for it, honey. She works hard for the money. So you better treat her right.” This has been playing inside my head since yesterday. I am trying motivating myself to hard word and align myself to reach my goals. Anyway, I am not going to talk about goals here. It’s about saving money. Yes, it’s easier said than done because I myself am having a hard time doing so. But, here are few tips for us to follow. Yes, I will start doing this too!
The fastest way to save money is killing debt first. Once you are debt free, you can easily put your money in a bank. The sooner you pay your debt, the lesser interest you have to pay. The interest you’re paying could have been your savings. Ouch!
List down your goal and establish a time frame. Think about investments like buying a house, car, or a gadget and start saving up for it. Make sure that the time frame you have set is attainable within that period of time.
Start keeping a record of your expenses. I started doing this last month. My mom has been doing this for 18 years now. Whenever she has money, she always have a paper with her and whenever we go shopping and eat out, she’s listing down how much money she spent and keep track of the money she have left. When I was a kid, I find it annoying but now I realized how important it is to keep track of your expenses. Mom told me not to spend more than what you earn.
Stop using credit cards. Super hard? Yes, I know! Or maybe you can start buying things that you can afford to pay. This will help you not to overspend because of the thought that you can defer the payment.
Start thinking how much money you can save in a week, or in a month. Little by little you will get used to it. I think for me, I should cut down my shopping habit. I am addicted to clothes and I barely use them right away. Today, I will start saving and start investing!
Tags: do not overspend, how to spend money, how to start saving money, investing your money, money, saving money, start investing, stop spending and start investing