Save Money by Spending Less
August 31st, 2010 Filed under: wealth building — Wealth Building Author
I think one of the factors that stop a lot of people from reaching there goals, or where they want to be financial is their spending habits. See it this way, the way you spend money can be like you using a bowl full of holes to carry water from the tap to a bucket you want to get filled up; you need to stop and mend those holes, or use another bowl without holes if you intend to feel up that bucket.
For you to tackle this problem of overspending in the bid to save money, you have to consider where all the money is going in the first place. I did a research, and I found out that there are five major things people spend money on; food, shelter, communication, transportation, and bad habits. You need to sit back and check yourself to find out which, or whether all this means are the way your money is going. After you do that, make it a task to find a way to tackle it.
The beauty of saving money is that, the more you save the more you would attract to yourself. That principle was discussed in the classic book, “the richest man in Babylon.” Apart from that principle working for you, having money in the bank also makes you feel good and secure, this keeps you vibrating in the positive frequency, which in itself alone, is enough to bring you more prosperity.
If you want to spend less on food and save money, then you need to stop eating out; cook your own food at home, and have a flask to take food with you if you are going to be out a long while. Consider the fact that the food you cook at home is more hygienically prepared compared to some drive-in; use that as an excuse when people laugh at your decision.
For shelter, you could share the cost of house rent by paring up with two or three people to get a 3 bedroom apartment, if you are not married. But if you are married, make sure you keep your spending low on the apartment you get. You don’t need to compare yourself with your peers and get a house that keeps your account in the red. You can always get a modest house, and I advise you use the remaining change saved up for some form of investment that would get you closer to owning your own home in the nearest future. If you must know, the one time richest man in the world “warren buffet”, stays in the same 4 bedroom duplex he purchased over 20 years ago.
To keep your cost down on phone bills, you need to stop making unnecessary long calls, and keep text message sending on the high side instead. You might think those calls don’t cost much, but when they pile up, they become a monster in your life.
For transportation, fuel is now on the high side, so you do not have to keep taking your car out everyday. You could take it out when you are going out with the family, or some of your friends, but it is advisable to take a bus whenever you want to go. It would definitely keep your cost down. In the long run, you would see the benefits.
For bad habits like drug addiction and alcoholism, you need to check into a rehabilitation centre. I think that is the only way you can do this, because you can’t fight it on your on. That huge sum you are spending on getting “high” could be put to some good use, which would get you a natural “high”, so you need to tackle that problem.
Basically, examine your life, and find where you have loopholes to your finances, and fix them; this would help you save more money. And the earlier you do that, the better it would be for you financially, and even emotionally; so make that move today.
Kayode dusanya is a writer in the niche of self improvement. He has been writing articles for years in his country Nigeria, to help uplift the countless citizens living below the poverty level.
For more of his works, head over to http://www.kaystipstogettingrich.blogspot.com
