As M.I famously said, “money slow to enter, money quick to go”. You work very hard to earn a living and before you know it, POOF! all the money magically disappears. The worst thing is you cannot even account for how you spent the money! If you have to keep borrowing money from people to go through the month because your money keeps ‘disappearing’, you have to make serious adjustments.
Follow these simple steps on how you can avoid impulse spending and save some money.
1.Always make a list
Make a list of all the things you need to get and follow that list. You should monitor carefully what you spend your money on and advise yourself to spend only on what you need and not what you want.
2.Create a time rule
Develop discipline and a time rule. When you see something you think you really want, wait for little and see if you still want that thing or not. More often than not, you will find out that you don’t really want it.
3.Save money you want to spend
Create the habit of saving the little money you want to spend on things that are not important. It’s really not wise to buy three pairs of shoes in a month when one pair costs half of your salary. If you feel like saving get an esusu (piggybank) where you can throw in that money. Apps have been created for that purpose so if you don’t want to get a real esusu you can use one of the apps like piggybank.ng.
4. Take walks
Walks are good for your body and your pocket. If it’s a walk-able distance, you do not need to drive or take a cab. This helps you save fuel and cash and helps your heart too.
5. Don’t shop with the wrong people
They say ‘bad company corrupts good manners’. If your squad spends at impulse then you know you’re all in. You can’t tell them to stop and they can’t tell you to stop so you just keep spending and spending so find people that will help you shop right.
6.Take your lunch to work
Taking your lunch to work from home helps you save money. Think about how much you spend on food daily for a whole month. That’s a lot of cash right there.
7.Always leave excess cash at home
If you don’t need the money there’s no need to take it out. Having excess cash will make you remember all the things you should have in your fridge or your hand bag. Take cash that is enough to take you through your well planned day and take your card just in case there’s a real emergency. Always make sure you don’t withdraw any amount of money unless you really need it.