Are you one of the many office workers who have worked for years, earn a lot but can’t seem to save tangible amount of money. No doubt saving money is never easy, even for students; much more for adults with lots of responsibilities to attend to.
The major problem of saving is ones habit. Your habit and your impractical ways of living can determine how you budget and save up your money. For clues on easy ways to save money as an employee/salary earner, practise these tips below:-
- List out your main budget for the month and decide on how much will go into your savings.
- Do not buy things on impulse, ignore things you don’t need.
- List out your personal and family needs and shop wisely.
- If you don’t believe you can save up you won’t achieve your goals. Believe you can and your motivation will drive you to save up some money.
- Once you receive your salary, separate your computed savings right away. This way you will be able to check the amount you spent on expenses.
- Stay away from debt. Save up enough money before making big purchases.
- Cut down on some expenses and use the available resources e.g. if you have clothes you have not used, it will be wise to avoid buying new clothes.
- Do not make eating outside a habit. Make your meal and take to work;eating out regularly could consume a large part of your salary.
“It’s unfortunate how some people complain about being financially unstable, yet they use their last savings to acquire material things.”
– Edmond Mbiaka –
Source: Jerome Herrera “13 Tips on how to save money” November 19, 2017.