All of us have wondered at least once as to why saving is always harder than spending. Well, the answer is simple. This problem arises because we do not think twice when it comes to spending. Most of our purchases are often made due to unplanned or impulse decisions. This is why it is highly important to plan your expenses. Here are some simple tips that will enable this year to be less financially stressful.
Think before you buy
Right before every purchase, ask yourself whether you need it or want it. A person who is under a financial crisis, does not have the luxury of spending on what he/she wants. Therefore, spend only on things that are absolutely essential. For example, you do not have to order takeout or go out for dinner if you already have food at home. Make use of the resources you have since after a certain time they will become useless and wasted.
Go to boot camp
This is something that most people regard as a joke. Going to a boot camp and getting professional help must not make you feel inferior. Remember that you are actually making an effort to make your life better. These camps have many professionals in the field including independent financial planners Melbourne. These individuals will give you fast-paced lessons about your daily expenditure. The skills and techniques you learn during these sessions will enable you spend more carefully and thereby will enable you to save a significant proportion of your income.
Stop carrying credit cards
Credits cards are the arch nemesis of anyone who is hoping to reduce their spending. Always leave the house with enough cash to buy only what you need. Having extra money in the form of credit cards is the main influencer of impulse purchases. Moreover, do not get tricked by those discounts and special offers that your credit card company offers you. Just because there is a 20% discount for you in a restaurant does not mean that you have to eat there. Instead of saving that 20%, trying saving it all by eating what you have at home.
Wait for it
This is a simple mental trick that can help out impulse shoppers. The next time you see something appealing, do not immediately purchase it. Ask the store keeper to reserve the item. Wait for a few days, at least for 24 hours and see whether you still need it. Whether your weakness is clothes or electronic gadgets, this technique will prevent you from purchasing something that you do not need immediately.
Make an income out of your income
Try to find a way to multiply your income by investing it on something productive and lucrative. This could even be a hobby that will enable you to make some pocket money. For instance, if you are interested in photography, invest on a camera. Start an online blog or a photo booth service to generate revenue. This way, you can be assured that the money you spend will actually come back to you. Moreover, this side business can enable you to start your own business.
Following these tips can seem impossible, but, you will never know till you try them out. Therefore, regardless of how tempting it might be, stick to these guidelines. This way, you can make your 2016 much more productive and less expensive.