Over the weekend, you might have thought how great it would have been to indulge yourself on a vacation in a private resort under this scorching heat of the sun, or to relax yourself with the scent of new clothes and the touch of the latest Smartphone in the metro. GUESS WHAT? Have you seen your wallet for a while?
FACT: Money doesn’t grow on trees.
So before you go gaga on the thought that you will become a shopaholic disaster, here are TOP 5 secrets to smart saving.
- KNOW YOUR PRIORITIES
You can these by listing down all your basic needs in a week like food, transportation expenses, clothing expenses, etc. Then add on the list your desire such as a new pair of sunglasses, or new shoes, a vacation away from the metropolitan, etc.
After doing so, write them on a clean sheet and start numbering them starting 1 (as the most basic and so on). With this, you can be able to define which of these things you can cut out from your weekly expenses and in turn, make them part of your savings.
- SET YOUR PLAN
Of course, you should base your plan from the income you are generating. Are you working? If so, balance your expenses so that a part of it, say 2% of your monthly salary, will be allotted for your savings. If you are still a student, make a budget on how to save your allowance from your parents by cutting unnecessary expenses like SNACKS for the second time in the morning? or TRANSPORTATION EXPENSES even though the location is just a block away from school/home? You can start from these. J
- VISUALIZE YOUR GOAL
Are you dreaming of that new pair of white sneakers? or that pastel pink top mimicking your favorite Hollywood artist? or that high-memory Smartphone you could use to sell your items online? MAKE A VIVID PICTURE OF IT INSIDE YOUR HEAD AND KEEP IT AS YOUR GOAL IN SAVING!!! J
- REMOVE THE OLD
Check your closet for used but unabused clothes or gadgets you could sell. This is one way of adding money to your Savings “Box” or Piggy Bank removing the hassle of just junking them in your room. You could sell your used and read books (those of which you think you’re done reading, of course), your clothes or shoes that do not fit anymore, your used camera or any gadgets per se. TIME TO MAKE A GARAGE SALE. You can post it online or set a table just outside your home. You could ask your parents or pals for help. HAPPY SELLING!
- PROTECT YOUR SAVINGS FROM YOURSELF!!!!
This is a MUST for everyone. Have you ever had a piggy bank back when you were still young AND after a day or two, you got tempted and decided to get every penny inside? HUH? MOST OF US UNDERWENT IN THAT STAGE SO DON’T FRET.
This last tip if for everyone who really want to get to their main goal at the end of the month (or whenever your scheduled plan tells you).
IF you are a student and prefers to have a piggy bank or just a box for your savings, PLEASE PUT THEM AWAY FROM YOUR SIGHT! Or a place you will have a hard time reaching. What I did before was to put A POSTER or a picture of my main goal (a laptop) beside my savings box to bring me back from my senses.
IF you are already working or have the capacity to do so, get another bank account solely for your savings. THIS IS HOW I DO IT NOW. It surely helps most especially when you leave the ATM at home so you won’t have a thought of splurging them when the thought comes. HAHA!