Posted on December 11, 2007 in Better Personality
How many times has the vow to save money been one of the top ten New Year resolution? Well, let me put it differently. How often has your pledge not to spend out of the budget been successful? Requires some introspection for an honest answer? Rest assured that you are not the only one to have sadly realized the so-called fact that promises are meant to be broken. And by now, you must have concluded that saving money is indeed an art.
What it takes to execute the decision to save money is after all solid determination and the supreme mental strength to say ‘no’ to certain things. At this point, you might recollect Oscar Wilde’s famous statement from ‘Lady Windermere’s Fan’, “I can resist anything but temptation”. True, it is in the human gene to want, but if you really want your pockets jingling all the time, you have to start practicing the decision to save. Relax; it does not demand a super human effort from you. All you need is foresight and sagacity.
Here are some tips which, if followed wisely, is bound to reward you with fuller wallets.Since the monthly nightmare is bills, the first few tips shall focus on them.
- Buy lamps of lesser watts and turn them off whenever not in use.
- Make sure all members of the family use only the required quantity of water and turn off the tap immediately after use.
- Use cooking gas wisely. Again, turn off the stove after use, the additional reason being safety. (Beware of forgetful grandmas here).
- Here comes the inevitable expense-phone bill! The next time you pick up the phone to dial, rethink. Use e-mails instead of calls wherever possible. In case of must-call situations, be brief.
- If you are paying through your nose for fuel to run your vehicle, ask yourself if you could have saved any here. Walk down short distances. This will be an exercise too. When caught in traffic jam, turn the ignition off. Let your vehicle and your wallet rest.
- Don’t go on a shopping spree as soon as you receive your salary. Set apart some amount as savings before any spending happens, because at the end of the month, you might not have much in hand.
- Allocate expenses for different uses. Take care not to exceed the amount allotted for each area of spending. And plan this ahead of a month.
- Write down at the end of the day, how much you spent for each area. In case you did not spend any amount on a particular area, rejoice, but do not allow this to lead you to spend this extra on something else. Let this go to the savings.
- Prefer to pay in cash to using credit cards wherever you can. Remember, currency notes pull harder at your conscience.
- Finally, you will be surprised to find how big a difference can cutting down on addictions like smoking, drinking and movies make to your budget. Test it yourself.
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