In today’s 21st Century world, consumption is the order of the day. It has been made seamless and instantaneous. Due to the advancement in technology and the recent rise of online stores, it is now possible for me to literally sit in one corner of my bedroom, order for pizza, and get it delivered to the same bedroom in a matter of minutes. As a result, everybody consumes. Nobody saves.
Meanwhile, basic personal finance taught us that, except we save a sizeable amount of money out of our income, getting out of the rat race will not only be difficult, but also likely impossible. To this extent, everybody is disturbed with the obvious question, what are the money saving tips that can be applied in the 21st Century consumption driven economy of today?
Here are proven money saving tips of the 21st Century:
Define Your “Why”
The first thing you need to clearly define in order to save more is to know why you must save. When most people make a decision to start saving, they do this with total dependence on their motivation and will power that will only last for a limited time.
Forgetting to ask, what will sustain them when their motivation and will power runs out? The reason why they started saving ab initio, which, in other words, also means “why” is the only thing that can sustain them and keep them consistently motivated.
Develop a personal budget
Except you have a personal budget that states, in clear terms, what your expected expenditures and proposed incomes are at a given time, you will have hard time saving money.
Develop a System of Saving
To save more each month, there is a need to develop a system of saving. What is a system? A system is a habit that you do subconsciously, without mentally being aware that you are actually doing it. Until you develop a timeless system of saving money, it will be extremely hard for you to save in today’s world.
What other money saving tips have helped you so far? Please feel free to share in the comments section. Also do not forget to share this post to your loved ones Next on the blog, we shall be talking about some money saving habits that could benefit you so don’t forget to subscribe to the blog.
* You will receive the latest news and updates!