I know, making money needs hard works, and spending money makes people happy. However, it's always heartbreaking to find that you spend more than you expected. Don't worry, same here! I was wondering if these following habits worked because sometimes they were even useless. I deeply know that when I buy something, I just WANT to buy something. Hence, even if I kept a diligent track of my spending, it just reminded me of something that I bought something cute, and I didn't even care if I really wanted. (excuse, excuse, excuse...) Anyways, here are 6 tips on how to earn more and spend less that I'd like to share with you, and I hope we can all have these good habits when facing money even if it's hard. The following tips have been divided into two sections: Spending less and Earning more.
Spending less:
- Keep tracking your spending
It sounds a cliche, but this simple process of doing this will make you think twice about unnecessary expenses. When you write down the costs for a month, take a closer look at them and "ask yourself whether or not each of these expenses actually contributed to the value and joy of your life". Starting differentiating between discretionary and fixed expenses will make you think about your spending habits and keeps you from lapsing into a spending coma.
- Challenge every outlay
Start considering where you could pay less or cut it out altogether, such as a lipstick, an upgrade of your online games, or an unhealthy beverage. If you don't even go to gyms but still pay for that pricey gym membership, it is literally a waste of money. Also, starting comparing prices helps you figure out if you spend more on similar items, such as cheaper toothbrushes in Carrefour (but you always buy more expensive ones in convenience stores).
- Go on a cash diet
Using credit cards is really convenient, but having a cash diet will help you save thousands of dollars over the year. We should all get rid of the excessive expenses caused by convenience, put our credit cards in a drawer, and remind ourselves of only spending the cash on hand with a certain amount.
Earning more:
- Be a slasher
It's not necessary, but you will find there's something else that you can also do to the best of your ability. For instance, if you were a bank clerk but liked writing, you should try to write something you like during your spare time and send your works to magazine publishing companies, news agencies, or online forums. Although being a slasher may tire you, it is, without a doubt, another opportunity to make good use of your multiple abilities and interests.
- Don't give up on any cashback or discounts when shopping
This is not only a way to make money but also to save money. Many shopping websites offer discounts on November 11 (Singles Day), Black Friday, Christmas, and Valentine's Day...etc, and you should grasp all of these opportunities to buy something you need.
- Be a minimalist
Getting rid of something that you haven't used for years, such as old CDs, old shirts, or earnings and selling them on Shopee or eBay to someone who may need them will not only allow you to figure out what things you really need but brings additional income. "Minimalism is intentionally living with only the things that you absolutely need" and ease your longing for excessive material items.
(Photograph: Flickr)
