Ok, first of all, I have to say that this post would have been quite a challenge for me if I had written it one year ago, but luckily I’ve changed and I have a different perspective on life. I understand if you’re a little bit puzzled, but let me explain.
I was a very big shopaholic, I used to buy stuff just because it was on sale, even if I didn’t need it, I used to buy stuff because it was pretty and the examples can go on forever. What changed? Me! One day, my car broke down and I realized that I actually did not have any money to repair it or to buy another one for that matter.
That was my wake-up call and I decided that it was time to do something about it. So I took small steps which helped me get on the right track and after one year I can finally say it out loud, I did it! I managed to save money and resist the temptation to buy stuff that I don’t need. Was it hard? Yes. Was it worth it? For sure!
So, if you’re finding yourself a bit in my situation, grab a cup of tea and read on, because I have some tips for you that you might consider handy. Enjoy!
Keep track of your expenses
I thought that this step will take me a lifetime, but once you have it figured out, it’s quite easy. It’s very important to know how much you spend each month. That will give you a clear idea of where you’re money is going.
I’ve made a special notebook where I write down all the expenses. That way I can easily keep track of each month without missing out on something. I can’t save money every month, not big amounts anyway, but even if I save just a little bit, it’s a win for me. You know what they say, little added to little becomes big, right?
Ask yourself: “Do I need it?”
As I mentioned before, I used to buy a lot of stuff just because it looked good, or because it was on sale and I just could not say no. Now, I have a different approach that actually works! I still look for sales, I still shop but I think before I seal the deal.
I ask myself all the time I see something nice, do I actually need this? Most times, the answer is no and even if it’s hard for me, I let it be and move on. It was hard at the beginning, but in time I educated myself in such a way, that I don’t even go shopping if I don’t have anything urgent to buy. Saves both time and money!
Keep an eye on your debt
Having a lot of debt can feel like the equivalent of a financial disease that spreads through one’s financial life. The challenge with debt is that it’s often a slippery slope, as due to the interest and late fees, once you start missing a few payments your financial position can quickly go downhill. What can you do in order to avoid finding yourself in this situation?
Well, I have one word for you, consolidate! One of the best ways to reduce your financial stress is to consolidate your existing debt into one lump sum in order to get creditors off your back.
The two main benefits to this are that you’re now dealing with one creditor rather than several – and rather than having a number of debts with late payment charges often accruing you now have just one lump of debt with more manageable monthly payments.
You can find more information about this subject here.
Learn how to save
Nobody knows this in the beginning, at least I didn’t! I learned it slowly and maybe it was the best. I stopped going out to lunch and instead I started cooking my own meals. It’s much healthier and it saves a lot of money.
I decided to take the bus or walk instead of taking the car every day and I started seeing results pretty soon. That’s when I realized how much money I was spending and I can’t even begin to tell you how relieved I am now that I’ve done something about it.
If you want to go shopping, shop when the sales are in. You can find a lot of products half price and if that’s not a bargain, I don’t know what is!
These are the small steps that I took and that changed my life for the better. Don’t imagine that I’ve saved enough money to buy myself a house, but I did manage to save enough in case something unpredictable happens to like my car will break down again (hope not), or something like that (fridge or washer).
If you have other money-saving tips that helped you, I would love for you to share them in the comment section.
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