Buy only stuffs that you need. Desist from spending money on craps that you do not need. Adopt some frugal habits.
Avoid some trendy or fashionable buys, as those are some of the stuffs and things people waste tons of ‘good’ money on every year. Usually, trendy things tend to be more expensive for the simple fact that they are in vogue and in demand. Prices of such items increase astronomically.
For some money saving tips, always learn to cook at home rather than eat out. It cost much less to prepare home- made meals, and invest the rest of the money saved in worthwhile ventures. For instance, buying lunch at work instead of preparing a home-made one is one of the tiny daily purchases that end up making a big dent on one’s budget. Be mindful of such red flags, and take caution.
Stop trying to be like the Jones’s. Cut out your own path in life and follow it with religious passion. Always strife to be ‘yourself’, make no pretenses about who you really are and stay true to yourself. You can only be the ‘best’ version of yourself, but a ‘poor’ one of another. Cease doing stuffs because others are into it.
That your next door neighbour is in the habit of throwing loud parties or taking the family on holidays abroad or to eat out at the choicest restaurants doesn’t mean you will do the same. You have no idea what your neighbour’s financial standings are like and how he earns his money. So please stop!
Persistent high food prices are another reason why preparing a homemade lunch is better option. To put this in context, food-away-from home prices — what you buy in restaurants or shops — are up 5.4% over the past 12 months. That figure is higher than the overall food prices increase, which stood at 3.2%, according to the consumer price index (CPI) report released Nov. 14.
With incessant rise in the cost of energy, transport, food, rents education and health, families need to prioritize their spending so as to avoid incurring debts.
While we celebrate this festive season, let’s all make an effort to be prudent, entertain modestly and remember to save for future expenses. By early next month in the new year, children will go back to school and school fees are expected to be paid as well as other sundry expenses to be made. So, be wise and do not run yourself into debt.