The daily expenses of most people keep increasing, as a result of the inflation in the economy. For a lot of people who spend a significant part of their income on basic needs alone, they are not able to cater for other necessary demands in their lives. However, with these lifestyle adjustments, you can reduce your expenses to save money for the fulfillment of other goals you have:
1. Limit eating out:
We know it can be hard having to cook everyday, especially with busy schedules and all that, but you have to work around it. When you add up the cost of eating out for a whole week, you would realise a lot is actually gone. Cook certain dishes that could last you for the coming week and store them in the fridge. That way you wouldn’t have to eat every meal outside.
2. Say no to impulse buying:
If you have the habit of sometimes splurging on items that catch your fancy even if you don’t need them, you’re wasting money you could instead save or even invest in profitable ends. It’s okay to reward yourself occasionally like buying that designer perfume or going to that restaurant once in a while. However, next time you feel like swiping your card on something, ask yourself, “do I really need it?”
3. Split up bills:
There are a number ways you can part with your friends when it comes to certain bills. You can co-rent an apartment so you don’t bear the whole rent alone. If you already stay alone, you can team up with a neighbour in paying household bills and regular subscriptions such as: gas, power, water, WiFi, entertainment, and the likes.
4. Be selective with events you attend:
The fact is, there are certain occasions you can avoid going, especially those ones that don’t directly concern you. Though it may be hard because some people will probably think you’re proud for not attending their parties. Remember you’re looking out for yourself first, so other people’s opinions shouldn’t derail you.
Have a high interest savings plan: While you’re reducing your living expenses, the best thing to do with your money is to then save it in a Reaprite plan that allows you to earn between 12 and 16% interest per annum. That way, you literally grow your money to help you gain financial fulfillment.
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