ntroduction
The financial crunch has made many people think. We have to think of way to save you money. Every company is trying to come out of ways to try to save you money. The financial crisis has affected a lot of lives. Here I will be trying to tell you ways to how to save you money.
Manage your money:
The thing I would tell you 1st is to how can manage you money. The 1st step is to calculate how much you money spend in debt payment. Pay your debt 1st and free up you money. Once you money is saved from debt payment, you money could be easily saved. The amount of debt of you money is directly proportional to how much you pay in interests. So the sooner you pay off the debt, you money can be saved for future use. If a little amount of you money is with you, and still you are paying of debt in interest, pay off the debt with the saved you money.
Manage an emergency fund
If you have money in your hand, it is very enticing to spend it on stuff that may be you don’t need. So you need to create a sort off a mental blockage to that temptation. This could be done if make an emergency fund. Keep this in mind that if suddenly your income blocks off or there is some mishap you can use that fund. This could have a limit of say like 3-6 months. You must cash in hand so that you can manage this much period. Unless you are doing so, it means you are not managing your money carefully enough.
Set goals in your mind
The easy thing to do is to step up short term goal. Like you want a dressing table or a new car you might be able to set a goal and achieve it too. The difficult aspect is to save in the long run. This short sightedness is difficult to cage in. You need to align your mind in a way to set long term goals. You need to think that how would you live 25 or 30 years down the line. If you can think on these lines, you shall be able to save money and make the right sort of investments. You will spend more carefully and make the right investments. The right kind of investments will lead to a better outcome.
Set a deadline your mind
Don’t give yourself too much leeway. In the sense, that if you want to buy a car, set yourself a realistic goal in terms of time. Unless you do so you will always go giving yourself too much time. Every time you will delay your purchase. Or in the other case you will stop necessary spending in order to find the right balance. By doing so you will be able to get the commodity you want and also not affect your daily routine life.
