25th of every month in most corporate organization is always payday for employees but do not be surprised after few days into a new month, workers start lamenting on how broke they are.
8 Money saving tips for 9-5 workers
Looking to have something tangible to fall on once in while?See few ways on how to cultivate a saving habit
Planning to embark on a personal project like getting a new whip, or getting worried about your house rent which is almost due and you need to pay before you are sent packing.
Here are few ways on how to cultivate a saving habit.
1. List all your expenses
The first step to saving is penning down all that you spend money on. The relevant and the irrelevant stuff you buy. List all of it down. Do this every month after receiving a paycheck.
2. Create a budget
Make a budget on how much money you want to spend every month and don't exceed it.
3. Buy smart
Do not buy everything you set your eyes on. Do not buy things you want, buy things you need.
4. Ditch vices
Try cutting down on some social vices. Drinking and smoking, for example, might seem not to take too much from your wallet but try doing a calculation of how much you spend on them and you'll be surprised how much you invest in them. It is not actually easy to cut down on some habits but just start
5. Hang out less
Going out to fancy restaurants and bars, cinemas with friends is cool but think about it, it drains your pocket if you keep doing it everytime. If you are the social type and you can't do without having fun, try organizing sleep overs or get-togethers with good food, drinks, probably Netflix and chill with friends. Trust me it is a lot cheaper.
Do stuff yourselves. Thank God for Youtube, surf the web on how to do simple things on your own. You don't have to pay for every small service rendered to you, like painting your nails.
7. Stay away from debt
Someone brings a nice Louboutin shoe to the office for sale, you don't have money and you want to get it. Please just close your eyes and tell yourself "The devil is a liar, not today Oh Lord"
Try to stay away from debt by any means necessary.
8. Open a savings account
Most people have a bank account, where their monetary transactions happen, crediting and debiting of funds. But using this bank for savings is not the best.
It is more advisable to have a separate account solely for saving funds. where money only comes in but never goes out.
Never request for the ATM card of your savings account. You might be tempted to use it once in a while, and once you start, you can never stop.
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