You may have a good and stable job now, but you can’t be certain when financial troubles can get the best of you. It is important to take care of your finances no matter how financially stable and secure you are right now. Don’t be a one-day-millionaire; take care of your finances seriously because it could make or break your standing in life.
Here are some valuable tips on how to save more money and to practice better financial management:
Buy clothes during off season and sales. Men clothing, for example, At a discounted price, you’ll save 50 percent or more on a valid sale compared to when you buy it on its regular pricing. Be wary though as there are some malls who put on a sale sign but actually only a few of the items are on sale. Also, most of the sales are after Christmas since malls stock up during the holidays.
Buy men clothing on its off season, like coats for winter during summer or vice versa. The prices for these items are normally half their actual price. The prices are marked down since they are not needed during the season. If you really want to save a lot, refrain from buying branded clothes. Buy the clothes based on the quality of the fabric and the seams; not because of brand names. If you continue on the binge of buying branded clothes, it won’t be long before poverty hits you. And it will hit you hard.
Lessen your use of heating devices that use electricity. You should unplug your microwave oven, coffee maker and water heaters when not in use. These small electronic appliances can actually add a lot to your energy consumption and therefore your bill. For light bulbs, it would be much better if you use LED. These consumes less energy than other bulb or lamp types. Keep water bills in check by making sure that you turn off faucets and hoses when not in use. Also, it would be better if you could look into the pipes even just once a year, or hire a plumber (its an investment really( to find out if there are leaks that could cause your high water bills.
When it comes to devices, buy only the appliances that you need. Refrain from buying items out of impulse. For example, you saw an add about a new laptop; if the your currently using still works fine, then why buy another? Or a new cellphone is the one you are using is still serving its purpose? You’ll have to check yourself if its a matter of need or just plain vanity.
Buying a house is sometimes the beginning of money woes for some people. When you come of age, you’ll arrive at a point wherein you’ll want to have your own house. However, bear in mind that buying one requires significant amount of money. It is also necessary that you have a stable source of income or savings to pay for it. More so, you must realize that there are a lot of things to consider when buying a home as it may entail more than what is necessary. What do we mean by this?
First, you must take into consideration if it is near your place of work. If its far from where you need to go on a daily basis, you’ll be spending a lot on gasoline, maintenance of your vehicle (if you own a car) or transportation fare. Imagine this, you need to wake up extra early and its possible that you’ll be arriving late due to the long commute hours. That does not even include the traffic that you have to brave in case the area is congested or has a high volume of motorists.