Saving money is just as simple as spending money. If you want to save your money, do not spend money, only buy things that you need. Of course I am not suggesting that we do not treat ourselves on occasions. I find that the more I spend on things I do not need, the more that seems to be valid in my own head. Here are five ways to save money that I think can be very effective.
-
Think over any purchases before following through. No, I am not saying that you should be holding a bag of almonds while huffing and puffing over whether you should buy it or not. Rather I mean the bigger purchases. Do you really need it? Will you use it? This method could be used for some foods that are not good for you as well. If you cannot validate it, do not buy it.
-
Do not bring your wallet to the places that you know you will spend money. This sounds a little extreme and it is. I can say that I have saved myself money just leaving my wallet behind when I go to the store just to give a friend some company. I will see something, proceed to look into buying it and then be glad I did not bring my wallet later.
-
Limit using your credit or debit cards. This is a for sure way to accidentally spend more than you intend. Since you cannot see your money disappearing unless you check your bank app, you will end up spending more.
-
Make use of generic brands. I hope it is not just me that notices how much people look down on generic brands. Almost all the time the generic brands of cold medicines, cereals, toothpastes and things like that are just as good but are dollars cheaper compared to the name brand. Make use of the generic brands and try them out. If they end up completely sucking, then at least you tried.
-
Buy in bulk. For those who live on campus this may not apply, but if you are living off campus, buy in bulk. It is always cheaper and you will also find yourself going to the grocery store less often because you will have more of the product to use up.
There are countless ways in which we can all save money. The most important way to starting to save money is to recognize our bad spending habits and cut them off. It literally pays to be smart when spending money, whether you are trying to save up for a trip, a car, or pay off your college bills. Every little bit counts, so start saving with these tips!