1. Pay yourself first
We work hard at our jobs but for the most of us, as soon as we get paid, we use the money to pay off bills and the like. Instead, set aside a certain amount of your monthly salary and transfer it into a savings account (preferably one where you can earn higher interest and fees are involved if you withdraw). This will ensure that you have enough money saved in case of emergencies.
2. Work out a positive cashflow
Draw up a spreadsheet to show your income and outgoings. This will help you detect where you are spending unnecessarily. Cutting back will give you a greater positive cashflow.
3. Delay gratification
Postpone purchases - this will give you time to evaluate whether purchases are a need or a want. Unless it is a need, there is no real justification for it and this will prevent impulse buys.
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