Learning How to Work Just Enoughby Tegan Groombridge Digital Marketing Manager
It is easier to earn money than to keep the money. In fact, most of us are struggling to keep money more than we do when earning it. The struggle with finances has consistently been passed from generation to generation, individuals are struggling, families are struggling, institutions are suffering the same effect, as well as most governments which are operating at a deficit.
But there is a way out…
There are many positive ways of working with just enough and ensuring that we constantly grow our financial status. Some of a few guidelines that we can observe as individuals to save more and avoid getting into debt include;
Differentiating between needs and wants
Needs are what we cannot do without, lack of them will make our lives uncomfortable. Wants on the other hand are luxuries. To survive the financial landscapes, we should be in better positions to put our needs before our wants. Once our needs such as healthy foods, clothing, shelter, school fees, among several others are met, we can now treat ourselves with various luxurious within our income margins.
Setting the differences between our needs and wants doesn’t necessarily mean that we deny ourselves comfort and happiness by living in frugality. It means just setting our priorities right so that we meet the basic necessities first before incorporating pleasures that we can do without.
Know where to get what at the best quality and most affordable prices
Have you ever observed a similar item trading at different prices at different outlets? This is a common scenario we face in our day to day living. May it groceries, furniture, electronic, or even leisure activities, it is important that you make a comparison using different online widgets before actualizing a purchase.
Personally, I make use of Discount Promo Codes whenever I purchase any of my items. These let me know of the latest offers. For example, I can know what Sainsbury’s or Tesco have in place for me in terms of groceries; look through Debenhams, House of Fraser, or Mark and Spencer for the most affordable and decent clothing, secure airport parking whenever I drive myself to the airport to catch a flight for businesses purposes; everything I need I will always find at the most affordable rates from the platform.
Always pay yourself first
Before paying off others for the services they have provided you, you have to first pay yourself. Rewarding yourself first means saving before spending. Set aside a portion of your income and save it. Such savings could serve you best during emergencies when cash is not readily available thereby preventing you from taking loans with interests offered by financial institutions. And when the savings grow, do not let them lie in the bank, start a project that can be generating you some passive income with time.
The subject of financial freedom Is such a wide one. The most important aspect is that the journey to financial freedom is paved by working with just what is enough and growing whatever has been spared in investments. You could start your journey today, for it is never late.
Created on Feb 14th 2018 08:22. Viewed 406 times.