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We all want to spend like there is not tomorrow, but that is just not possible unless you are already rich. Calculating and managing your living expenses can help you adjust to your financial situation.
4 Ways to save money:
Determining you finances can help you understand how much money you are spending.
Make planner for the daily, weekly, monthly and even yearly to pinpoint how much exactly you are expending.
You will be shocked how much money you are blowing if you are not careful. Try to determine all your sources of expense such as food, clothing, dates, commute, education, hobbies and etc.
All those caramel macchiato are breaking your bank. Try to eliminate or at least lessen such purchases.
Avoid Eating Out
Make homemade foods if possible. Develop a weekly meal preparation in which you prepare your weekly meals in a certain time frame.
You save time and money by budgeting what you eat and carefully packing your food for consumption. You can spend up to 70 dollars a week just by eating at restaurants every time.
You can prepare a $40, $30 or even $25 meal prep for 3 meals a day in the entire week if you know how to prepare, cook and store your meals. Learning how to cook and improve your cooking skills will definitely be an advantageous thing to have.
Needs vs. Wants
Differentiate needs from wants. Your needs must be taken first before you start buying your wants.
Your wants are usually things that will not directly affect your life without them. These are the luxurious things you have been considering necessities. Do no go broke while trying to look rich. Rich people continue to stay rich because they know how to handle money.
Do you really need that latest Iphone or Samsung smart phone if your current phone is still usable?
Avoid Paying Retail
Try to pay less than retail at all time. Shop at wholesale places like Costco and Sams club and discounts stores like Ross and even Goodwill to eliminate retail costs.
Do not get swindled by paying retail all the time. If you know how much money retail stores make, you would probably want to own a store too. Even the so-called sales are quite profitable because their costs of making the products are very cheap.
You can buy that same 100 jacket at Ross or Burlington Coat Factory for a fraction of the cost.