Tips On How To Save More Money And Stay On A Realistic Budget

The very first tip to saving, budgeting, and staying financially stable is – stop caring what people think! Don’t make purchases because you want to impress others, especially people that you don’t like.

For instance, new smartphone buyers, did you buy the new smartphone because of the new features? Or did you just buy it because you wanted to be a part of the trend?

If that is the case, here’s my suggestion. When you buy something expensive or materialistic, because you want to show it off or simply because you want to impress others, you’re going to impress people for two seconds. Then, as soon as everyone has that item that you purchased, you’re going to be like everyone else, and you no longer stand out.

I’m not saying you should stop buying expensive things, but the reason why I buy expensive things because it makes me happy.  I like to look at my items, and be like wow! I bought that with my hard-working money, but if you’re just buying things because you want to impress people.

Trust me, it’s going to be very hard for you to maintain financial stability, so I encourage all of you that if you’re going to buy something expensive and materialistic buy it because it makes you happy. Don’t buy it because you want to impress people.

The second tip is to save your coins in a piggy bank. Or if you are a server at a restaurant, I recommend that you save your tips and just put it away in a piggy bank. This is a great tool for saving your money.

The third tip is buying things that you need. Say you’re running low on school supplies, deodorant, or cleaning materials, make a list and go to the store and buy those items.

Don’t get tricked into buying extra stuff that you don’t need. Don’t get tricked by these advertisements, people, or these sales into buying stuff that you don’t need.

If you make a list and go into the store buy what you need, it’s a good way to budget. It will help you to save your money, and it’s going to keep you financially stable.

The fourth tip is starting an emergency fund. For starters, an emergency fund of one thousand dollars is perfect.

For those who do not know what an emergency fund is, it is when you put money away, and you don’t touch it. Unless it’s for an emergency, and I’m not talking about a fashion emergency. I’m talking about actual emergencies.

For example, what if your vehicle breaks down, and you need to buy parts. You can use that money from your emergency fund to purchase those parts or say you don’t have enough money for your upcoming bill. You can use your emergency fund for that.

I recommend that you don’t put your emergency fund in your bank account because you’re going to be tempted to take some out. I recommend that you just put it away, put it somewhere safe, put it in your secret hiding place. Your goal is not to touch that money just in case something happens.

The way that an emergency fund works is if you take money out, you have to put the money back as soon as possible. You have to be able to balance out what you took from your emergency fund.

For example, if you have a thousand dollars and you take out 300, every paycheck that you receive throughout the weeks, put fifty dollars, a hundred, twenty, whatever it takes.

Put it away into your emergency fund, so that it can maintain the balance that you had in the beginning.

For those who feel like they can’t put their money away in a secret hiding place because they might touch it, you have to really self-discipline yourself.

A great way to budget is using the envelope system. For example, suppose you really love makeup, and you notice that you’ve been spending a lot of money on it.

The way that this system works is you set a certain amount that you can spend on makeup. For example, say your limit is 60 dollars.
You can only spend sixty dollars in one month. And say you spend that sixty dollars, you no longer can buy more.

Or say you love fast food and you notice you’ve been spending a lot of money on it. Set your limit to forty dollars, put them in the envelope and for one month you can spend forty dollars on fast food.  After that, you’re going to have to start packing your lunch.

These recommendations will help you to save money.  They’re useful to teach you how to use self-discipline in your spending which is critical. And you are going to become be financially stable!

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