No matter what stage that we are in life, it always seems like we get our paycheck and in no time at all, the money is gone. And there is nothing big or substantial to show for it. So, where does it go? Quite often it goes toward little things that quickly add up.
So, what can we do about that? How do we save when much of what we are buying is necessities? Or are they? When should we buy something to keep the most money still in our pocket book?
Here’s some quick ways I’ve found to save money:
I find that just having a greater awareness of where my money is going is a huge help. It helps me make more informed purchasing decisions and ensures that I am putting my hard-earned money where I really want it to go.
One other strategy that I’ve found helpful is that I break down my salary to the equivalent hourly wage. Then, when I find something I want to buy, particularly a splurge item, I ask myself, is this really worth ## hours of my time at work? This sometimes has been quite effective for stopping me in my tracks.
Hopefully these ideas and exercises are helpful. Ideally they are meant to simply be some initial strategies toward getting yourself on track with managing expenses. Once you’ve figured out your new habits (if you so choose), it won’t be something that you fret about every time you take your wallet out. You will already have a good sense of what the item in front of you is truly worth to you.
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