8 Ways to Save Money: Take Control of Your Expenses

April 13th, 2017


Expenses pursue us all the time. Sometimes they are reasonable, sometimes – impulsive. It’s time to take control of your buying, set a budget and to stop wasting money. We’ve gathered a couple pieces of advice from the consumer psychologist about how to avoid unreasonable purchases. Are you ready to start saving money?

  1. Check your possessions

Before you buy a new thing, think twice if you already have the same or the similar one. It concerns clothes of the same style, accessories, household products, etc. You don’t need the excess of stuff at home.

  1. Keep a smart proportion

Have you ever happened to buy a dress for one-time occasion that costs more than your weekly outfits? In a similar vein, people buy expensive and high-quality things (e.g. shoes) and wear them once a year not to cause any damage. It is silly because there’s no reason to buy them at all. Instead of wasting money on cheap knockoff imitations to use every day, buy some good product once and use it. As a result, you’re satisfied and your wallet is satisfied as well.

  1. Remain ignorant to “profitable” deals

Loud offers make you think of purchases, which you don’t need. You just feel guilty about losing a chance to take advantage of the deal. In the end, you waste your money on things you don’t actually need. Don’t do that, unless there’s a lucky coincidence that the offer is valid for the stuff you’re looking for.

  1. Test your temptation

Each time you see a new “must-have” thing you “certainly” need to buy, give it 20 minutes to wait for you. If the price is high, give it 24 hours. When the excitement calms down and the sober mind comes back, decide whether to make a purchase or not.

  1. Buy with friends

It’s a great idea for the expensive and luxury buying. Buy such stuff with a friend or neighbor for the joint usage. You save money and still possess what you want.

  1. Don’t make purchases for future

Whenever you see an extremely engaging thing to buy, consider whether you are going to use it at least the nearest month. If not, pass.

  1. You don’t have to buy

Wasting time on shopping sometimes is not rewarded with the desired purchase. Don’t be upset, and don’t buy unnecessary stuff to comfort yourself. Realize that you don’t have to buy things just because you’ve entered the shop.

  1. Count first

It’s a useful thing to do especially if you doubt some purchase. Set a budget, count how much you earn each hour, and compare the time spent on earning and the cost of a purchase. If you don’t regret working 6 hours to have a meal in a restaurant for an hour, then welcome. Otherwise, save money for something else.

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