By Avoiding these things in turn will save you more money from your pockets. Remember, as your salary increases, you intend to increase your expenditure even. There is nothing wrong in increasing your standard of living but not at the cost of savings. So, think yourself whether to waste your money on these mentioned expenditures or not.
1. Valuing things only with the current value without caring for future.
People tend to ignore future deeds with comparison to the current enjoyment. But you need to think everything from the perspective of future. But don't forget to take care of everything first at the present.
2. Leaving no records of your expenditures
Maintain a record of all your expenditures and go through the same after 3-4 months with that of your incomes. I bet you will certainly feel about your spendings on unwanted things. When you don't maintain any record with a feeling that we can remember all the spendings, you tend to forget how much you spend. But you will get to know that most of the spendings that eat away your income are the small things that you spend. This way will help you in controlling your finances for sure.
3. Thinking yourself too young for Saving
Including me, many of us thing that we are too young to start the savings. But we are not aware that most the savings can be compounded from the early age itself. So its better how early we start the saving to see the real compounding effect. It's always advised to start savings before you start earning.
4. Running behind Electronic Gadgets
If you feel that you are a tech savvy, then keep some limits to your habit. because there would be no limits for it. Buy only that gadgets that you are really looking for and that is very useful. Always do what is required to be done right now. People tend to upgrade their device with the latest model every year, which will cause harm than the real benefit.
5. Poor Budgeting
Prepare a budget, as does the government of your country. This way you can plan you incoming and outgoing money. So, Make a budget and stick to it as much as possible to see the savings taking roots. This would in turn avoid unnecessary expenditures.
6. Without knowing needs and wants
Do not go for luxury when things are not required. For this you have to know the difference between "What you want" and "What you need". You need to prioritize only on things which you should have rather than spending on things which you should not have. Example of buying a car should be a need , rather than a want if you can't afford to buy.
7. Avoid Bad Habits
Drinking health drink daily would benefit your health and drinking a hot drink will weaken your wealth and health as well. So plan your habits accordingly, try saving the money you spend on smokes and drinks gradually by recuding the amount you consume to see the difference it makes. It will be huge and mind blowing.
8. Forgetting, ignoring debts
Whenever you take debts, loans most of the portion of the repayment goes to interests. So making huge debts will leave no savings for you. So prioritize paying off the dues and clearing the debts at first,s o that you can focus more on Savings.
1. Valuing things only with the current value without caring for future.
People tend to ignore future deeds with comparison to the current enjoyment. But you need to think everything from the perspective of future. But don't forget to take care of everything first at the present.
2. Leaving no records of your expenditures
Maintain a record of all your expenditures and go through the same after 3-4 months with that of your incomes. I bet you will certainly feel about your spendings on unwanted things. When you don't maintain any record with a feeling that we can remember all the spendings, you tend to forget how much you spend. But you will get to know that most of the spendings that eat away your income are the small things that you spend. This way will help you in controlling your finances for sure.
3. Thinking yourself too young for Saving
Including me, many of us thing that we are too young to start the savings. But we are not aware that most the savings can be compounded from the early age itself. So its better how early we start the saving to see the real compounding effect. It's always advised to start savings before you start earning.
4. Running behind Electronic Gadgets
If you feel that you are a tech savvy, then keep some limits to your habit. because there would be no limits for it. Buy only that gadgets that you are really looking for and that is very useful. Always do what is required to be done right now. People tend to upgrade their device with the latest model every year, which will cause harm than the real benefit.
5. Poor Budgeting
Prepare a budget, as does the government of your country. This way you can plan you incoming and outgoing money. So, Make a budget and stick to it as much as possible to see the savings taking roots. This would in turn avoid unnecessary expenditures.
6. Without knowing needs and wants
Do not go for luxury when things are not required. For this you have to know the difference between "What you want" and "What you need". You need to prioritize only on things which you should have rather than spending on things which you should not have. Example of buying a car should be a need , rather than a want if you can't afford to buy.
7. Avoid Bad Habits
Drinking health drink daily would benefit your health and drinking a hot drink will weaken your wealth and health as well. So plan your habits accordingly, try saving the money you spend on smokes and drinks gradually by recuding the amount you consume to see the difference it makes. It will be huge and mind blowing.
8. Forgetting, ignoring debts
Whenever you take debts, loans most of the portion of the repayment goes to interests. So making huge debts will leave no savings for you. So prioritize paying off the dues and clearing the debts at first,s o that you can focus more on Savings.
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