1. Make a budget
Every month, when you get your salary, sit down and calculate your necessary expenditures (rent, transport, food, etc.). Make sure you don’t confuse necessity with want; you need a house to live in, you don’t need to have a spa day.
2. Eat in
Going out to eat all the time is not good for your health, figure or wallet. Learn to cook new dishes so you don’t get bored with the fare. Don’t fall back on packaged noodles or pasta; they’re not good for you in the long run.
3. Reconsider your addiction
You don’t really need to have a coke/packet of cigarettes/alcohol/chips/weed/etc. on a daily basis. If you don’t think you can give up your addiction cold turkey then try weaning off of it. You can also read up some online articles that offer tips on giving up addictions.
4. Don’t buy branded items
You can easily get jeans, dresses, accessories and shoes from cheaper stores and markets. Most of the time branded items cost more than double of what you’d pay normally. Even when it’s sale season, it’s more expensive than buying non-branded items.
5. Reevaluate entertainment
Cable TV charges and magazine subscriptions are unnecessary expenditures. You can watch movies and series in other ways. From time to time, check your internet subscription and see if you can get a better plan since you first subscribed.
6. Try the family plans for phones
Nowadays, most telecom companies offer family and friend plans that will reduce your phone bills. Also, try cutting down on the amount of time you spend talking on the phone. People confuse being on the phone as being “busy”, it’s not; it’s just unsocial socialization.
7. Check the shopping offers
Some stores give offers on buying things in bulk; see if these will help you save. Even your ATM card usage can help you get cash-back or some amount off on your grocery shopping. Keep up-to-date about these offers and beware of any “ifs and buts” of the scheme.
8. Take your fitness out of the gym
Gym memberships usually cost a lot. If you find an affordable gym, great; if not, then take up walking, running, cycling, etc. If you need gym equipment, look for second-hand or cheaper items on sites and set up a gym space in your house.
9. Don’t confuse love with money
In relationships where people have no real connection or no time for each other, expensive gifts are a way to keep the relationship going. Work on your personal relationships instead of buying gifts that you can barely afford.
10. Make affordable plans with friends
Ask your friends to meet up at less expensive places or at home. If you plan to go out, then fix an amount in your head that you’d be comfortable spending and stick to it. When budgeting your night out, keep in mind the additional charges that get added to your bill.
11. Review your transportation costs
If you have your own vehicle, try doing your grocery shopping on your way to and from work instead of taking trips just to go out and buy necessities. If you don’t have a vehicle, try walking a distance before you hail an auto/rickshaw, so you have to pay less.
12. Start saving any amount
Even if you’re in the position where you end up spending all you earn, try to start saving some money every month. It can be any sum – 100, 500 – whatever. Make little cutbacks to add to your savings. It will help you see that you can put aside a sum if you just keep at it.
13. Treat your credit card as last resort
Credit cards tempt us to spend money that we don’t have. Without a credit card, you would have just looked at that pricey bit of equipment and realized you couldn’t buy it. With a credit card though, you tend to treat unnecessary purchases as vital ones.
14. Avoid instant gratification
Every time you feel like splurging on some expensive item, force yourself to wait at least two weeks before making the purchase. That is the time for reconsideration. Online shopping especially can get out of hand easily, so this is a good rule to follow when shopping online.
15. Make a list when you go shopping
Stick to the list that you have made. When you go out without having a ready list, you often end up buying things you just don’t need. It is also a way to increase your junk food consumption. Cola bottles are not on your list, they’re something you add when you stroll around aimlessly.
16. Sell what you no longer need or use
It is a great way to get rid of the clutter in your house and also to earn some money. Clothes, shoes, bags, old equipment, etc. can all be put up on online auction sites or on sites that help you sell off your second-hand goods. If you can, hold a yard sale.
17. Repair clothing instead of buying new ones
We no longer repair clothes if a button falls off or if the hem comes undone, but you can save a lot of money if you hang on to those extra buttons that come with the clothes and use them when the need arises. Those that are beyond repair, can be used as dusters.
18. Take care of your health
How is this a money-saving tip? Medicals bills rack up huge amounts in a short while. Just brushing correctly every day can ensure you don’t need to visit the dentist regularly. Eating and exercising properly will help you stay fit and need fewer doctors’ appointments.
19. Skip going to malls
You think that you will merely window shop but most likely you’ll end up buying something you just don’t need. It can also be depressing to restrain yourself from buying anything when people around you are shopping like there’s no tomorrow.
20. Keep a track of freebie events
If you’re a social animal, you can’t skip going out altogether. Therefore, keep an eye out for events where you get free entry or your entry-fee goes into your bar tab. There are all sorts of days that you can opt for – ladies nights, couples nights, etc.
21. Stay away from idiots
I cannot emphasize this enough. There are too many people who will judge you by the brands you use or the amount you spend. They’re happy living their lives following the latest craze, fad, trend, fashion, sheeple thought, etc. Go your own way