Just got reminded by Justine that after I graduate, I have to pay my school fees back to my father's CPF. There goes my monthly income :( That will definitely be a hard time - so I need to start saving MORE.
Here are 10 simple tips to saving:
1. Keep all your money in the bank.
Having excess money in the wallet will only allow you to spend it all, since it is just in your wallet. You tend to have an idea of how much you can spend/afford for something, because the money is visible.
2. Have enough money (about $10-$20) to last for the entire day.
You will tend not to spend and having enough money will restrain yourself from withdrawing (troublesome).
3. Hide your card at home.
Without the card, you have a lot of control not to spend money since you do not want to owe your shopping partner :) This is really effective ^^ I've tried this, and I am so restricted.
4. Deposit your little savings every other day/every week.
A dollar a day would be good enough. That is with every allowance, you can take out a few bucks. Even better, $20 per week will also help in your saving in the long run. Definitely.
5. Bring your own food.
If your mum cooks in the morning, make an effort to wake up earlier to pack your own lunch from the food she cooks and bring to work. Yes, it might sound troublesome. It doesn't really need a lot of food. Each person just have to bring 2-3 portions since everyone else is also bringing food - that case, you would neglect your colleagues/friends.
6. Have a thrift store.
Your thrift might be another's treasure. (I think it's like that.) I don't want to make it sounds as though you want to throw away so you sell. After all, it might be new. Just think that you want/need the money, so you sell, rather than letting them rot and getting no money. At least someone out there wants the piece you are holding. Either set up a mini store or search for buyer :)
7. Think first - 10 second rule.
Before buying anything, make an effort to think if you really need the item. When you start to pause and think, you are actually thinking in a clear mind before buying things on impulse. I'm sure everyone experience that moment of impulse buying even though there is instant gratification.
8. Write a list before shopping.
Have a clear idea of what you need to get, so that you will not get out of the place with extra things that are not written on that list. Plan carefully and stick strictly to it.
9. Make an comparison.
Ok, this may sound auntie, but a few cents can really determine your savings in the long run. Let's be realistic.
10. Join loyalty programmes.
Such programmes rewards its members/customers by providing them with vouchers etc through the accumulated points. Some even gives rebates, which benefits you in the long run/for your future purchases.
Hope these little tips help :)
I believe it isn't easy to stop spending - yes, it is really easy to spend with the instant gratification. But I'm sure we all can find ways to spend less and save more :D
Therefore, all the best to me and everyone.