Saving money is a great way to build wealth. Thanks to inflation a thousand saved today will only worth a hundred after a few years. But, this shouldn’t hold you back from start saving now. So, I wish to share four practical new age money saving ideas to follow.
Avoid Fake Sales:
Most e-commerce companies host fake sales. The reduction in price is a gimmick to attract customers. Shopping frauds became common to lure customers and dump them worthless goods. Spending’s on these sales is the biggest waste of money. One should never buy things you don’t need because you get them cheap. In most sales prices will increase before applying discount making products costly. Few online stores in India sell old and cheap quality products, clothes during sales. During these, you are not saving money but spending more than required. It is better to avoid fake sales and stop spending money on unnecessary things.
Stay away from people who show off:
Many days we see people who are materialistic. These people buy costly goods, mobiles, cars only to create a rich impression. The toxic nature of these people pushes you into buying unwanted things. May it be an office, home or your close bunch of friends. Avoid people with this attitude.
“Buy what u need but not what you can afford”
Make friends who value you but not your things, justify how buying expensive is worth.
New Edition Addiction:
This is a kind of disease where patients want to upgrade for newer versions. This may include buying zero down payment mobiles, expensive clothing or vehicle upgrade. In fact, there won’t be a purpose behind these kinds of buying show-off. Marketing gimmicks paid by companies get u spend your money. Buying something new requires selling old items for a lesser price and buy new for a higher price. Keen observation will reveal new models or launches feature minimal to no changes. Use gadgets and other things you own to the greatest. Extract most out of them and get them changed only when they are very obsolete.
Pay bills on time!
This is the most delayed thing that keeps human mentality unwilling to take money out of pockets. Credit card companies and lending agencies levy a lot for delayed payment. Punishment for non-payment of personal loans is huge, interest compounded might be high which won’t help you with new age money saving ideas.
“Pay bills on time to save yourself from fine.”