Money Management Matters.

The 6 Money Saving Hacks For Spending & Saving

by Rebecca Fhima

Planning

1.Your budget is your bible

We get it. The word ‘budget’ implies more unappealing responsibilities. However, planning a budget at the start of each month will allow you to understand what you NEED to be spending your money on and what you WANT to be spending on.

What you want to do:

Set aside amounts for groceries, bills, etc. (And no, shopping is not a need, it is a want.) The rest of the money can be used for other things (shopping) throughout the month!

2. Expect the unexpected

You CAN and SHOULD be planning for those unplanned expenses which can range from a health emergency to a fashion emergency. By saving money with your budget and limiting unnecessary expenses you can build an emergency budget.

3. For the traveller

Planning your trips abroad for off-season dates can make all difference. Other than the dates of your trip, booking places to stay with alternatives to hotels like Airbnb can not only save you money but make for a more authentic experience. You can also sublet your own home while you travel!

Listing

4. Don’t shop ’til you drop

The tip to never go grocery shopping on an empty stomach to avoid buying unhealthy food is the inspiration here. This is not only specific to food shopping but all things. By writing a list of the specific items you need you avoid the situation where you go to the store to buy shampoo and come back with purple lightbulbs.

5. Swap don’t shop.

There are so many things that we have all bought and no longer need. Think of all of those books we buy then never read again. By getting some friends together and making lists of your books, clothes or random things, you can plan to swap! These swaps will make you feel like you shopped without dipping into your wallet.

6. Control your impulses.

Sometimes you’re watching TV and a commercial for a product appears and you so badly want to buy it, or at times you’re shopping and see a sweater you are not 100% sure about, but want to buy anyway. Moments like these are opportunities to exercise your self control. Keep a list of these items on your phone and go back to them a few weeks later. Odds are you’ll have had a change of heart.