How to Stop Wasting Money: Most of us have at least once have heard from our parents that “You must stop wasting money, or the lack of it will forever control you.” After a set-back, everyone learns a lesson. Speaking of money, once you taste the feeling of wasting money, you are never going on that road again. But who wants to suffer, right?
No one wants to suffer, and so it is better to learn from other’s experiences. Saving money instead of wasting it is a big save from a hard punch on the face. In this article, we are going to talk about the marvelous art of stopping the wastage of money so that we have our faces protected and have a defense mechanism when we are about to be punched.
Money is hard to earn; no one knows it better than a person who is earning it. Be it you, your mother, or your father, a massive effort has to be put in to earn even very little money.
Putting money in useless places may cause wastage of money. As you know, “Time is money”, without wasting time any further, let’s get into the matter.
Learn to Ignore Your Unnecessary Demands:
If you are an impulsive buyer and want to buy something that you don’t require, try to resist your temptation, ignore going shopping often, don’t think about buying for a couple of days, and after someday think about it again.
After waiting like this and thinking about it, you’ll see that you won’t want a lot of things from then as without them also you have managed well.
During this waiting period, ask you a few questions like Do I need this? Will I be using this for about 6 months from now, or is it going to end up in the trash? After you think like this, your buying habit will loosen down a lot.
Don’t Buy Stuff Just Because They’re on Sale:
The best way to bite-the-bait fantasy of “Sale” is to develop a planned approach to spend money on our needs by prioritizing the essentialities.
For example, food is our basic need to survive, but before we go to buy our monthly Groceries, we go for listing items as per our requirement concerning quantity and quality. This shows a planned approach to spend money, but “Sale” is that alluring thing that shatters all plans. If we cultivate a regular habit of planned-approach of spending our money, we could gradually develop the potential of not being coaxed by the flashy world of Sales.
At the end of the month, if you save some money by restricting yourself from unnecessary shopping, the amount that you would save may not be much. Still, it would surely give you great gratification and motivate you to resist the temptation of impulsive buying.
Cook Your Meals:
Everyone craves for tasty food at least once a week. We have to learn to compromise with our stomach most of the time. Instead of dining out, why don’t you try to make the food that you crave for right at your home? The Internet has a recipe for all kinds of food. Just watch a video from YouTube, pull up your socks, and make a dive for it.
Trust me, it costs way less than what you pay at the restaurants. As a plus point, if you learn how to make those foods at home when you have a guest come over, you’ll be able to impress them with your cooking skills, and overall it would be a healthy option to intake.
Do All the Shopping at Once:
Most of us go grocery shopping multiple times a month. So that we don’t waste the things we buy after they rot. As a result of that, we end up looking at things around us that keep glowing, and we can’t resist looking at them, and we end up buying things we don’t need and as a result, we waste money and as you know, “Every Penny Counts.”
Make a Budget:
At the beginning of the month, sit down and make a list of the things you need and set a monthly budget. Keep in mind that the budget should not exceed one-fourth of your salary and don’t jot down the unnecessary stuff. This will give you a head-start in saving.
Track Your Spending:
It is very important to keep track of your spending. Not asking to maintain an excel sheet, just write down every item you buy and at what price in a diary. When you look up in the diary, and you see how much money you have spent, and seeing the amount you have spent, you will automatically cut short the things you don’t require from next time onwards.
SUMMARY: How To Stop Wasting Money
So this is our best picked techniques to follow and stop wasting your hard earned money.
We covered how to control your unnecessary demands, Avoiding “Sales”, Cooking your favorite meals at home, Shopping all the groceries at once, Making a monthly budget, and Tracking of all your monthly spending will effectively reduce your money wastage.
How did you like this article, Please let us know in the comment below!