5 Easy Tips To Help You Spend Less Money

By Michelle Wanjiku

Wealthy people save first spend what they have left while those struggling financially, spend first and save what is left.

One of the biggest hindrances to growing your wealth is usually your spending habits.

How many times have you found yourself wondering where your money went? You had money but cannot explain how you spent it.

We are always looking for a way to get rich this is why there is a rise in gambling and other get rich quick schemes. Most people want to get rich quickly but the truth is, it’s not easy to build wealth. you have to make sacrifices along the way in order to achieve financial freedom.

if you want to grow your finances and become wealthy, the first thing you need to do is watch how you spend the money you have.

SEE ALSO >>> How Cutting Off Unnecessary Spending Helped Me Save Over 2K In A Month

Here are some tips on how to spend less money

1. Cook your own food

It’s evening after a long day of work so instead of cooking you decide to pass by your favorite joint to buy food. How many times have you done this in the past month?

No matter what you buy you will still end up spending more than if you had just cooked yourself a meal.

Look at it this way; you spend 100 shillings on one meal when you can use than 100 shillings to buy groceries that could provide you with two or three meals.

2. Buy products in wholesale

You can also take this as buying in bulk. have you ever noticed that when buying something, the difference in the price of things packed in small quantities to those in large quantities.

For example, you might find that 1 kg of sugar at 105 shillings when 5kgs is around 510. If you spend 5 Kgs of sugar in two months buying in bulk is cheaper than buying 1kg of sugar five times.

Another option is buying things at wholesale shops instead of supermarkets. It is known that things sold in wholesale are much cheaper so you can choose to shop for groceries in wholesale and save even more money.

3. Do not buy bottled water

I used to buy a bottle of water every day, that was until I bought a water bottle and now carry water from home.

I would spend about 25 shillings daily on water in a week that translated to around 150 each week. A water bottle costs about the same amount and you only have to buy it once. This meant that the 150 I would spend weekly ended up in my savings account.

SEE ALSO >>> Financial Freedom Is Not A Fantasy: The 7 Secrets To Get You There

4. Track your expenses

You need to always know where your money is going, not knowing how you spend your money means you will be unable to budget properly and you can’t be accountable for how much you spend. Keep track of even the little things such as how much money you spend on credit.

This will enable you to plan your finances better.

5. Save even the small monies

There is a misconception that only people with a lot of money can save. However, this is not true, saving as little as 20 shillings a day is enough because the amount will increase and you could use this money to better your life.

Don’t wait until you can save thousands of shillings each month. Start with the little you have now and build on it.

In Conclusion,

The less you spend the more money you have to save, invest or start a business as a way to build your wealth.

Most wealthy people are smart when it comes to spending money; it is why a conductor can end up being richer than an office worker who earns a lot more.

Do you have any more tips on how you can save more money? Leave them in the comment section below.