Have you ever found yourself self-imposed a spending limit beyond which not to go, so you can manage to save money at the end of the month? It is certainly not easy to make all the accounts add up.
Perhaps it may help to start using a magic word: no.
Is it enough to say no?
Obviously we are not referring to “no, I amnot saving today,” but to start saying “no, I am not going outtoday,” “no I amnot buying it today.”
We can summarize the concept as: “
no, I’m not spending today .
.”
There are many theories on how to save money, the theses of the most quoted economists and behaviorists are spent on this topic, but like anything, everyone should feel free to make his own experience and, from there, figure out which method is most appropriate to his way of being.
We agree that, at least for a period of our lives, we experienced “no.”
What to say no to?
It will surely have happened to everyone to receive an invitation from friends for dinner, go out and, when the evening is over, think “maybe I could have avoided going out, I will be out even two nights.”
This is an example where we can say “no” to the superfluous, to what, for some reason, we do and go along with even though somewhere we feel we could really do without it.
How to figure out what to say “no” to?
1. A good place to start is to figure out how much we can afford to spend . To do this, it is helpful to start using the
financial diary
in which to mark all cost items. This helps us to verify exactly how many outputs actually are versus what we imagine instead. Remember that it is essential to mark all expenses. Breakfast at the café, although a small expense, is also worth marking in the diary.
Once we understand where we go too far, it’s done. What was the item that surprised us the most? Where could we reduce outputs? Well, now we know what we have to say no to. Do we overdo the shopping? Let’s decide what is the maximum amount sa spend in a month and strive to stay within that amount.
A no that can make us happy
However difficult it may be to say no to a dinner with friends or to a movie theater, it will be really great gratification to see that you made it. Have you been able to give yourself goals and achieve them.
In short, to save money all we need to do is learn to say no, and, this, will also make us happier and more euphoric.
Learn about other financial best practices
Good financial advice #21 | If you can buy it twice you can afford it
Shopping is an activity that has become easier and more fun over the years. Shopping, online or offline, has never been easier. This over-simplification of the purchasing process, however, hides some dangers that may lead us to not think through the purchase and thus overrun our budget. Here are some simple but useful tips to avoid crazy purchases.
Good financial advice #20 | Read a financial book every year
Reading to be more informed and to understand what strategies to adopt in managing personal finance and what mistakes not to make is the first step in increasing our knowledge.
Good financial advice #19 | If you have to borrow you can’t afford it
Had it ever occurred to you that if you have to borrow money then it means you cannot afford to make that purchase. Learn to manage the budget you have, without having to take out loans–because it might say you can’t afford it.
