Most people have issues with their personal finances, and they have never come to a point where they have full control over their personal finances. Most people think that management of personal finances will only be possible when they start making millions of dollars every month. However, this is not true. This assumption usually makes people reluctant to take control of their money and they end up in financial crisis.
Others think that taking steps to manage personal finances is harsh and exaggerated, and they just live each day as it comes. Others live with the dream of becoming financially free one day and they therefore see no need to bother planning for the few peanuts they presently have. This is a very wrong perception, and it is important that you take charge of your personal finances.
One simple tip is to make good use of free samples. Why should you buy something when you can get a smaller version of it for free? It sounds funny, but it helps. Also, be a good steward of your plastic money.
If you are very extravagant, then avoid having a credit card; go for a debit one. Open a savings account instead of a current account, because your rate of withdrawal will be regulated. Make an effort to save money and reward yourself when your aims are met. It also makes more sense to buy things in bulk. Do a months shopping instead of buying what you need every day.
This is especially with dry foods and foods that have a long shelve life. Things are much cheaper when they are bought in bulk, and you will find more offers on bulk items than on single ones. It is also cheaper to transport many items at once than to go ton the store everyday or every week. Remember, saving money is not only in the price at which you buy them, but also in the effort, time and money you spend to get them to your house.
When going to the convenience store, always have a list and stick to it. This is to avoid impulse buying, because this is what affects many people’s personal finances. Have someone who will keep you accountable, say a spouse or a friend. Practice sticking to the shopping list and it will become natural to you with time. Mark your progress, and give yourself incentives and rewards for every progress you make.
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