Spend Less

Nowadays, people are on the constant look out for ways on saving more money. To achieve such goal, there simple strategies that they can try each day of the week.

  1. People can start their week by merging their various accounts (savings, checking, etc.) into one. This allows people to monitor the flow of their money in just one page and it has also been shown that people better monitor their money when they are stored in just one place. At present, there are already existing applications that let people achieve such task.

  2. The next day, people should start unsubscribing from online shops and avoiding promotional discounts sent to them via emails. Even though these offers propose paying much less money, people are still required to spend. People should also keep in mind to buy only things that are needed and not wanted.

  3. Another way to spend less is get rid of old bills and replace them with newer ones. Studies show that people are more apt to use old bills than new ones.

  4. Saving for the future is one sound strategy to spend less money. It also ensures that a person can live with no financial worries if he makes the right decision of saving money for his retirement.

  5. When eating out, people are advised not to make the mistake of over ordering meals. One neat trick that they can try is to have some snack before going out or splitting a starter with their company.

  6. When shopping, people should check out the perimeters of the shopping area because it is there where they can find the cheaper items.

  7. People can also try the Rule of 5. Here, all the bills and necessary allotment for savings are subtracted first from a person’s monthly income. Next, a fifth of what is left is placed in a separate account made for annual spending. The rest of the money is then divided into weekly allowances that will be used for a whole month until the next salary comes in.