I am sure you have heard a lot of financial experts say that in order to get rich, you need to earn more while spending less. This advice may really be effective, but it is actually more difficult than it sounds.
When temptations start to present themselves, all your firm resolutions start to melt. But don’t worry. This doesn’t mean it is impossible.
Here are some effective mental tricks that can help you make yourself financially smarter in saving more while spending less:
1. Don’t give things up. Instead, savor them.
When temptations start to present themselves, all your firm resolutions start to melt. But don’t worry. This doesn’t mean it is impossible.
Here are some effective mental tricks that can help you make yourself financially smarter in saving more while spending less:
1. Don’t give things up. Instead, savor them.
2. Keep in mind that when you are not earning money, you are spending it.

in pursuing your financial goals.
3. When shopping, stop and use the “urgency test” first.

“Would I really want to wear this new pair of shoes right now?”
If you do not feel the excitement, perhaps you will be better off not purchasing it.
4. Take advantage of procrastination when it comes to non-essential items.

5. Stop spending your loose change.

6. “Use it up, wear it out, make it do, or do without”.

This is a guest post.
Author Bio:
eCompareMo is the country’s leading and complete comparison portal intended for Filipinos looking for quick, secure, and complete banking and insurance products in the Philippines, streamlining the comparison and application products to help Filipinos make informed decisions when it comes to their finances. Like them on Facebook to get more financial tips.
Author Bio:
eCompareMo is the country’s leading and complete comparison portal intended for Filipinos looking for quick, secure, and complete banking and insurance products in the Philippines, streamlining the comparison and application products to help Filipinos make informed decisions when it comes to their finances. Like them on Facebook to get more financial tips.
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loved this article to bits! god bless and more power to you!
ReplyDeleteJust like to add these to your "urgency" test (just read them from some books, sorry I forgot its title!!)
ReplyDelete1. Do I want this?
2. Do I need this??
3. Can I afford this??
I think sa book yan iyong kuntento ka na ba sa PERA mo?? saka apat po iyon
Delete4. Gusto ba ng Diyos na bilhin ko ito? :D
Great tips Jeff! This is a good start especially for beginners like me in proper personal finance. Just to add, you can check my collection of tips on how to save money here: http://www.thinkpesos.com/6-collection-of-tips-on-how-to-save-money/
ReplyDelete