Saving, for some reasons, is very difficult. A lot of people, especially us students, since we don't have a source of income, are struggling to save money for something or nothing. It is easier to save for something than just saving for investments. It's not bad to buy something out of our savings but always remember that we should keep money for emergency. I'm not the most credible person when it comes to saving but I want to share some tips.
1. Budget
Budgeting is always important. Identify how you’re spending money now. Then, evaluate your current spending and set goals. Have a breakdown of your expenses: daily, weekly and monthly. Cross down the non-essential things but consider some of the things you desire if possible.
2. Open a bank account
I don't know but this is the easiest way for me to save. I know some of you don't find this practical. There are bank deals for students that will allow you to open an account for less than P300.00. The good thing about this is, it has no maintaining balance. Cash in your wallet is a big temptation.
3. Bring enough cash
Do not be over-thrifty if you desire something that would bring happiness to your life. Just balance everything. If you will go somewhere, do not bring big cash. Bring with you an amount you think is enough. Big cash convince you to overspend.
4. Avoid impulse buying
Make it a habit to avoid impulse buying. Many of the things you want to buy do not seem all that necessary. Try to wait the item to be available on sale. You know when the price is right; so decide for yourself.
5. Stay Home
Staying at home is much cheaper. Again, balance everything. Schedule for a night out and hang appropriately. It is not necessary to go out regularly at expensive bars and restaurants. Try spending a night-out with friends at home for movies, games, gossips and other trip.
We
should know how to spend our money. Our parents are working hard for it. :) I hope this helps.
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