I cannot emphasis enough how important and crucial saving money and financial management is in one’s life. In this our token economy, money is required in exchange for the things we need and want for our survival. While few people know how to manage their household budget properly, many people have a hard time saving money even if it is for their own good.
Many a times, you have a very strong urge to save money but then something pops up as a stumbling block, and before you know it you have already spent the amount that was supposed to be added to your savings account. Below are some helpful tips on how you can avoid temptations and be able to save money:
1. Say ‘NO’ (both in action and in words) to those things that keep you from saving. If you are fond of buying shoes even if you don’t really need them, try very hard to stay away from them. Keep yourself away from shoe stores so that you will not be tempted to buy one. Or, if you are fond of playing lotto every evening after work, change your route, avoid passing through where you can see lotto shops.
2. When going to grocery stores. Always bring the exact amount and bring with you a grocery list. If you have limited money in your pocket when in grocery stores, you will be forced to buy only those important things that you need. Preparing a grocery list will also help you get organized and will help you in decide the things that need to be prioritised.
3. Go to the malls only when needed. Do not go shopping if you do not need anything important to buy. Window-shopping will only tempt you to buy the dress you saw in the boutique even if you don’t really need it.
4. Do not bring with you your credit cards all the time. Having a credit card in your pocket will only tempt you to buy things that are not necessary. This will also help you lower your balances and have a good credit score, in case you need to get a loan from the bank or a mortgage.
5. You may want to save money in the bank or invest in time deposits. You will not be tempted to get money from the bank every time you need cash, if they are placed in a time deposit account.
6. You can also try opening an account without a Debit card; this makes it difficult for you to go to ATMs many times you want to withdraw cash.
7. You may also want to consider consulting a financial advisor. There are a lot of programmes that offer these services for free. They may be able to help you and give you advice on how you can avoid temptations and save more money.
8. Most importantly, pray that God grants you a spirit of ‘self control’. You need such spirit in you to be able to overcome the temptation of spending unnecessarily.
