This is always a tricky situation to be in. We all have needs and would like nice things. I find that having a goal works for me and having a budget drawn up for items you need every month makes a difference to your pocket and helps to save some extra money which you would probably spend on items you don’t need or food you could have cooked at home. Below is a list of ways you could save some extra money:
Budget: Having a budget where you list all your needs and have an estimate of what it would cost can make your shopping trip a little easier will also prevent you from purchasing unnecessary items.
Envelope system: I recently started the envelope system where I would try to calculate how much cash I would need for my monthly expenses, such as account payments,rent, groceries, toiletries, petrol etc. I would then label each envelope, draw the correct amount of cash and place it in each envelope. This allows me to be strict and curb myself when I’m in the store. I also place cash in 4 extra envelopes for weekly staples, such as bread, fresh fruit and vegetables.
Goal: Setting a goal for yourself or your family helps you to restrict yourself from purchasing unnecessary items from the store. For instance, you would like to go on a vacation and have to save up for it, knowing that you are saving for something and that your money is not going to waste, helps you to achieve your goal faster, because you are actually going to receive something in return.
Eating Take-out: One of the biggest struggles I face is eating out, its always the easier option as it requires less effort as opposed to cooking your own meal and cleaning up once you are done. But, take-out could be the reason why its difficult for anybody to save that extra cash. I still struggle with this.
Clear your debt: Having no debt makes saving easier, no money has to go out every month which means there is more money to be saved. If you use your credit card often and you would like to save money without creating more debt, make sure that you have some extra cash on your credit card to make purchases, in that way you are spending money which is actually available and you are not creating debt for yourself.
Designer labels? what for!: The way I see it nobody but you will know that you’re wearing a designer label clothing item. These designer labels are a waste of money, you get so many counterfeit items anyways that it is difficult to tell the difference. Besides that, clothing is a seasonal item, which means every season new colours and styles are in fashion. Instead of breaking your bank for items which only last a few months, rather purchase items at a cost effective conventional retail store.
Purchase clothing pieces you need: Make sure you only go to the mall when you actually need something and really only when you NEED it. Somehow when I’m bored I find myself lurking in all the clothing stores as I’m sure that I will find something I need haha. What I mean is that make sure your purchases are timeless items which you can mix and match with just about anything. I swear this helps. Check out my previous post 10 wardrobe essentials for tips and tricks to keep your wardrobe updated.
Happy saving and budget making xxx!