You can save more and reduce expenses by managing your habits in managing finances. Starting from making plans to controlling your shopping activities. Here are 6 tips to save more and reduce expenses:
Create Financial Planning
The key to success from saving income is by planning. With careful planning, you can set aside a portion of the income that you have to save, and how much you have to spend to meet your needs. Make a list of your income and financial expenses. It is also to help you control your finances and also know the types of expenses that can be cut. For example, you can cut electricity or water expenses at home by saving money. In addition, the existence of a planning list can also help you to set aside your income to fulfill your hobby. So, saving income doesn’t feel heavy because you can also spend your money to buy things you like.
You can save more by selling items that are no longer used. Unload the contents of your closet or look for items that are already unused in your home and market online . That way, you can increase income and save more. Selling used items can also help you buy the items you want. However, don’t buy items that are beyond your ability and that exceed your income because they will burden you later.
Ask Yourself Before Buying
Before buying an item, ask yourself if you really need it. Do not buy items that are not really important to buy and focus on priorities. Making a shopping list is one way for you to buy goods as needed. If you go to the supermarket, there are lots of foods with attractive packaging to buy but don’t be tempted. Also, keep yourself away from the store which will add to your desire to buy. For example, if you are a fan of make up, keep yourself away from a makeup shop that will add to your expenses. Therefore, make a list of purchases a month so you can set aside money for your hobby.
Stop Buying Unnecessary Items
What is meant here is not something that is really important for daily needs. You must reduce going to the mall only for window shopping. In addition, don’t explore online shopping sites without the special items you need. This can make you tempted to buy things that really don’t really matter. You better make a plan about the items you will buy before going to the mall or visiting online sites in order to reduce expenses. You can also add savings by reducing spending on something you don’t use too much, such as membership in a gym and also subscribing to magazines that you rarely read.
The best way to shop frugally is to make cash payments. You don’t need to be afraid to spend too much as if you use a debit card. Use only cash that you have in your wallet to meet your daily needs by setting targets. For example, in a day you are targeting to spend one hundred thousand rupiah, then prepare only one hundred thousand rupiah in your wallet. That way, you will not spend your money on things that are not needed and will save money.
Find Ways to Press Bills
When you shop online, make sure you have checked all the promos available atthe site. Sometimes, online sites like Lazada provide promo voucher codes so you can enter the code to get a discount. Such a promo code can provide a discount that benefits you. There are also many sites that provide discounts for many purchases and free shipping. If so, invite your friends to buy together to get a cheaper price. In addition, you can also take advantage of a cashback promo if you shop at a store using a credit card. You can also reduce expenses by looking at your bad habits such as smoking or wasteful use of electricity.
The habits that you start from now on your finances will help you to increase savings. This is useful in the future for emergencies. Furthermore, by reducing spending, you can avoid debt bondage.