Let’s face it. You experience financial difficulties once in a while. But there’s a lesson here you can’t deny. Those hard times should teach you how to save money. You must learn how to do it to avoid being so helpless when you encounter “rainy days” again.
What if you’re already making both ends meet? Is there a way to still save money?
Yes, you can still save. Here’s how:
1. Prioritize important payments or budget allotment.
Some of these are bills with due dates, tuition and miscellaneous fees, to name a few. Allot funds for transportation, toiletries and food expenses too.
Stay away from temptations. No, you don’t really need that new clothes. You also have many pairs of shoes. And you just upgrade your mobile phone three months ago. Try making your phone a bit obsolete for a change! You’ll have fun doing it!
There are also many sites on the internet where you can download not-so-old movies you haven’t watched yet. Or try Korean dramas, they’re addictive! In other words, don’t go to the cinema every week because you still don’t have enough money to make that a habit. Try to save first.
2. Plan ahead and save a bit every single day.
Coins are fun to collect. They’re even more fun when you collect a coin each day by placing that in a piggy bank. You’ll save money without being so hard on your wallet!
Don’t feel sad thinking if you save coins, it may take many years before your fund will become huge. Feel happy that you’re saving at least a coin a day without feeling that it’s making a dent on your budget allotment per day. And feel happier when you think you’ll have some money when hard times come.
3. Control your cravings.
Your everyday budget becomes not enough if you spend a lot of it on food. Admit it. It’s one of the biggest temptations you often succumb to.
Why not try eating apples and bananas instead of burgers and fries? Not that you’re depriving yourself of eating the food you want. It’s just that there are ways you can save if you learn to control your cravings. Well, you may give in to temptation once in a while, but not yet when you haven’t obtained enough funds for a rainy day.
Think also that your helping yourself have a healthy life and body by eating fruits or veggies instead of fries and red meat. You’re not aiming to save but you’re also helping yourself to become healthy.
4. Use your skills and talents to save money.
Don’t just enjoy your skills and talents. Earn money through them!
Are you good in baking or making sweets? Lots of kids will buy your foods, just make them so delicious that they won’t be able to resist buying them.
How about if you love writing? Don’t just write for yourself. Blog and let the world know your ideas and thoughts. There are so many topics and stories to write about. It’s an exciting sideline. And you can earn money too.
Oh, and so you have the skills to design website. That’s cool! There are so many people who prefer to have online jobs and would like to have their own websites. It’s to your advantage that they don’t have the skills to do that or they don’t have the time to learn about web designing. That’s your chance to sell yourself as a web designer. Impress them. Believe in yourself. You can do it.
Explore yourself by discovering all your talents and get paid by doing so. You’ll really be able to save for a rainy day if you’ll have the determination to use your skills and talents. For a price, of course.
5. Discipline yourself.
Don’t just save money through piggy banks. Set aside some bills too if you can already afford to do so. Then put them in the bank. Or temporarily place them among your things and forget about it for some time. You’ll have fun when you finally arrange your things and see the money inserted in a book or among the purses you seldom use.
Discipline is one major factor in saving. It helps you achieve your goal of keeping money for a rainy day.
6. Borrow but return the money to the lender.
There are emergency cases when what you save just can’t be enough for the money you need to resolve your dilemma. In times like this, don’t be afraid to borrow money or apply for loan. Just be determined to pay even in stagnant basis. Be sure to pay them or else you might incur accumulated interests.
It’s better to borrow from close friends or relatives who understand why you can only pay in regular but installment basis. This is because they won’t add some interests on the money you borrowed. Pay until the day you finish paying your debts. That will provide you with a good impression from the lender that you can be trusted. Well, rest assured he or she will let you borrow again in your times of need.
7. Look for other sources of funds.
Are you a student making both ends meet? If you are, you may apply for scholarships. Don’t just aim for good grades, aim to have allowance by having exemplary academic performance. There are many available scholarships for a hard working student like you!
Are you a housewife? Don’t just use your public relations skills with your neighbors. Search for online jobs. There are lots of employers who are willing to accept flexible schedules. So do online jobs while your baby is asleep. Sell things online. This way, you won’t just save coins but bills because of your sideline.
Unexpected situations that require money from you will never be as hard as it seems if you learn to save money. Yes, you can save money even during these hard times. Just discipline yourself to spend only for things you need. Don’t be lured by gadgets or other things things you just want but don’t need. Those can be bought in the near future when you’re in much better economic situation.