Money saving and Lifestyle Planning

By admin
In Lifestyle
Nov 3rd, 2013

Saving is highly recommended in our lives. It is through savings that we get prepared for the future and then tackle the unexpected events thereon. Unfortunately, for most individuals, they seem not to get the concept behind it or fail to implement it merely because of ignorance. Our future and that of our children is actually vital and thus the need for us to save. The big question however is how can we see to it that we are saving? Well, the answer is quite straightforward. Here are some ways that we can achieve this.

Eye your bank accounts
A normal person would in most cases spend more when he has money and vice-versa. For this reason therefore, the rate of spending during end months is higher than during any other periods. This is actually that time of the month when supermarkets make a lot of profits because of the increased spending rate. A solution to this would be to plan well and ensure that you save a certain percentage of your income every month. It is advisable that you save in a bank that you cannot easily access it.

Walking around with less money
It is a reality that when people carry a lot of money with them, they are most likely to spend the most. You therefore need to carry less but sustainable amount of money lest you be tempted to spend. Thanks to the technology for it is now possible for one to carry credit cards in place of large amount of cash. In case of emergencies, unexpected happenings or large purchases therefore, you may use your credit cards.

Reducing the home size
Buying too much houses or bigger houses incorporates using a lot of money. The best advice that has been given is that individuals should purchase smaller houses as they are cheaper and easier to maintain. Buying large houses would definitely necessitate too much stuff in order to fill it which is not economically fit.

This is the process where individuals strive to minimize their spending. Well, this is done through cutting crap hence reducing unnecessary spending. A wise individual would only purchase those goods he or deems fit only and should not be influenced by others to purchase. For instance, you should not buy a product merely because your friend has bought it. Take time and determine the products that you need to have. Of course go for those ones that are beneficial to you.

Many people fear taking out insurance covers because of the expenses associated with it. Bike insurance is not an exceptional! The good thing is that these insurance expenses can be lowered after all. For instance, not carrying your pillion, putting security alarm on your bike, spreading the costs and disclosing the length of time you have owned your bike, can substantially reduce the amount of premiums that you are supposed to pay. Alternatively, getting your own garage instead of parking on the road and ensuring that you have completed advanced riding course will see premiums reduced by almost ten percent. You may also reduce the distance that you cover and reduce insurance premiums by up to twelve percent.

Well, we are living in a much competitive world today. We therefore by all means need to learn the art of saving for nobody can predict what will come next. For instance, you may wake up to find that you have been fired! Do yourself a favour and get to learn how you can save for the future.

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