One very big assumption when it comes to saving money is that you have to completely deny yourself of any sort of comfort. Which is why most people avoid saving because they don’t want to change their lifestyle.
Yes, your lifestyle has to change but the process does not have to be painful. What you need to do is to learn how to spend less but still live a life you are used to.
Tips On How To Save More Money Without Being Unhappy
1. Save for items you want to buy
Instead of not buying what you want because you want to save and use your money wisely, you can set up a budget for whatever you want to buy.
This will ensure that you end up buying what you want and not destroying your budget in the process. A bonus is that you will also feel very good after buying the items because you know you can truly afford it.
2. Compare prices
Don’t just buy something at the first store you find. This is because prices vary and the item might be more expensive in some stores than in others.
Doing this will enable you to purchase the item at the cheapest price possible and saving you some money in the process.
However, you just need to ensure that you don’t compromise on quality just because you want to buy cheap, after all cheap can be very expensive in the long run.
For example, if you buy cheap shoes because you do not want to spend a lot of money and a week or two later you have to buy another pair, are you really saving?
If you always have to spend money replacing the cheap things you buy, why not buy something a little more expensive but will last longer.
The trick here is to focus on buying quality items that will last long.
3. Prioritize expenses
It is not advisable to spend money without prioritizing your bills first. You should not just spend money before you think through what is more important and spend money on that.
For example, deciding to travel to Mombasa just because they have been paid is not a good idea. The right way to do it without having any worries that when you come back you won’t be broke is to ensuring you set money aside for travelling.
4. Avoid impulse buying
Impulse buying is a very bad habit that you need to quit especially if you want your salary to work for you and ensure you live a comfortable life.
For example, instead of buying a flashy new expensive phone when the one you have works just fine instead, you can use that money to invest in something more profitable that will enable you to buy more than just one phone.
5. Buying things you need
How many times do you come across something that you rarely ever use but spent a lot of money on and you ask yourself why you bought it?
Before you spend money on something, you need to figure out whether it is a need or a want. This will help you stay focused.
Ask yourself questions such as do I really need this item? Do I have more than enough money to buy? If your answer is yes then you can buy the item.
6. Don’t deny yourself too much
This is a very common mistake people make when it comes to saving ad is why most of them avoid it at all costs. Completely denying yourself is not a very good way to save money because it might not be sustainable in the long run and you don’t want to quit saving a few months in.
For example, if you love eating out there is no need for you to completely stop. All you have to do is find cheaper alternatives on where you go. There is no point in going to a place where you would spend 3K on food when you can eat the same food at a place that costs half that.
When it comes to attaining financial freedom, you do need to make some sacrifices that will help ensure you improve your financial situation. However, this doesn’t mean that you have to give up on life’s luxuries such as travelling and going out with friends.
By Michelle Wanjiku
The writer is a Communication Officer/Digital marketer at Career point Kenya.