I decided to do a post on ways you can constantly save money especially since most of the people in my inner circle consider me a frugal person.
One thing you would quickly learn is that it is quite difficult to stay dedicated to saving money and that’s why one of the paths I have chosen to saving money is to use one of those automated programs that deduct money from my account on a weekly and monthly basis and save for me.
We can all agree that saving money at some point in our lives as saved us from some unforeseen circumstances and no matter how much we want to live these baby girl / boy lives, saving is one culture that has come to say and that everyone needs to learn.
To make things a little easier, I have compiled a list of some of the tips I have tried out and some that I can’t wait to begin. A little here and there is all you need to have more than enough.
Tip on Saving Money
1. Move some of your money from your bank to saving platforms like piggyvest and Crowrywise.
To stop unnecessary spending I would suggest you open an account with any of the two platforms above. I personally use the two and even though the process are almost the same, their goal is to help you save and invest more. You can decide if you would like to save either on a weekly, daily or monthly basis and the specified amount that you would like to be removed from your account will be deducted as at when stipulated.
2. Cook More Often.
I understand a lot of us like eating out but cooking your food at home will help to save a lot of money. Taking a few hours every weekend or during the week to shop and prepare your meal will definitely save you money, by doing that you can save money that can be otherwise spent on something else.
3. Cut down on your utility bills.
In our house ever since we started using the prepaid meter, anything that is not meant to be put on isn’t on. If no one is using it, it won’t be found on and that way we have been able to reduce cost on our electricity bills.
Other bills that has also been cut down is the like DSTV or GOTV subscription and that’s because no one exactly has the time to watch it so no point paying for it.
It’s best to say to find out the utility bills that is consuming more of your money and find ways to reduce cost so you can save.
4. Buy Food Stuff in Bulk.
Buy your food in bulk as much as you can to reduce the cost compared to when you buy it in bits which can be more expensive.
5. Try the DIY policy.
As much as you would like to pay to get some chores done at home, try doing it yourself first, see how well you do before employing the services of a professional home cleaner and more importantly encourage every member of your household to learn to clean up after themselves.
6. Record your expenses.
The first step to saving money is to figure out how much you spend, never forget this.
7. Make a budget.
It’s never a bad idea for anyone to live their lives on a budget, by having a budget, you run your life on daily basis, you get to avoid surplus spending once you have reached your limit for the day.
8. Watch your savings grow.
While doing all of the above, keep a close eye on the growth of your savings and watch as the numbers gradually add up.
I know that the points listed above has barely scratched the surface when it comes to ways one can save more money, but make it a sub-conscious habit to save money in things that you do every day, even if it is a few naira. All that money saved can add up significantly and you can save it or spend it on things that really matter!