Sunday, June 11, 2017

3 Money Saving Rule of Thumb


We’ve all struggled at some point in our lives with money. That is why we need to learn how to save and value every single penny we earn. There are tons of ideas, tips, and tricks out there that promise to give us the knowledge needed to effectively hoard money for the future or for whatever reason we can think of. Sure, they give us good ideas and it may sound like it can work for us. however, not everything works for everyone.

But these 3 Money Saving Rule of Thumb or money saving tips that I have for you is all you need to know to effectively get into the habit of saving money.


Photo from google
#1 Live within your means

Spend what you can spend without going broke, basically. Don't buy stuff you know you can't afford. You know how much money you earn, but do you know how much money you can spend? This means budgeting your money and categorizing them to where they need to go. Making sure you will have enough money to spend for your daily expenses until the next payday and still have some left for savings.

I have an article on how to budget with one income only. It's my simple but detailed budgeting style that I created myself. It has a free budgeting printable included in it. Click here to read the article.


Photo from google
#2 Prioritize

Knowing the difference between your wants and needs. Believe it or not, those are 2 very different words. Your needs are the things that you use daily that cannot be avoided and you cannot live without. Food and hygienic products are two examples. While your wants are the things that you wish to have but you definitely can do without. Prioritizing what's more important will teach you to spend wisely and save money.


Photo from google
#3 Don't deprive yourself

This may sound counter-intuitive to the first two rules, but hear me out. When you've finally learned to accept it and get used to the first two rules. You can reward yourself every once in a while. Buy one thing from your wish list, considering you have a bit of extra money or eat at a nice restaurant. Don't deprive yourself. Because depriving yourself will only cause you to spend more money. Why? because saving money can sometimes feel stressful, a little splurge is needed to keep our heads above the water.

Keep in mind that you don't need a ton of tips that in the end, only confuses you and leads you even further away from your main goal. Life is complicated enough, you don't need even more complicated tips to save your hard-earned cash. Just stick to the basics and your good to go.  Remember that everything requires your dedication for you to succeed.







21 comments:

  1. This is SO important. I have people in my life who don't live within their means and always wonder why they are broke.

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    1. I do to and I was like that as well. But thank God I learned my lesson. It's really important to know where you stand in terms of finances.

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  2. This is very important to remember. Life has so many temptations and as time goes on recreational things get more and more expensive. I have been working very hard to create new budget guidelines for myself thanks for the reminder.

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  3. I had to learn these the hard way. Thanks so much for the reminder. We fall off the wagon occasionally

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  4. We canceled our credit cards a few years ago and now only buy things if we have the cash for it. It makes our life so much simpler.

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  5. All of these are great ideas! I have a bad habit of depriving myself and then feeling miserable. I love how these tips can fit into any budget.

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  6. When it comes to saving money, getting control of your finances and reining in the debt, your money-saving rules hit the nail on the head! Living within your means and having a plan that you can stick to week after week, month after month is very important. Although it may not be easy, getting your finances back on track can be done.

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  7. Great post and great tips! Some months I am so good at saving and some other so bad. But yeah, don't deprive yourself or you will want to buy everything. xx corinne

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  8. Money has always been a thing that worried me. I wish we could just forget about it and move on with our lives! Thanks for sharing your tips! It always helps to put situations in perspective by thinking on it like this.

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  9. I have been trying to teach my Son about finances. Living within your means is so important.

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  10. I love these tips. I had to learn these tips the hard way and thank you for reminding us these great tips. Thank you for sharing.
    XOXO //SINCERELY OPHELIA | NYC Petite Fashion Blogger

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  11. I like to live within my means and I also prioritize my spending habits and see what is most important for me to buy i.e. food. Its important to live within your means x

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  12. It's really important that we all learn how to live within our means. It does so much for our financial status especially when we're trying to save and follow a budget.

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  13. I have learnt to live within my means at a young age and it has really helped me a lot.

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  14. Great post and great tips. I believe in prioritizing the important things and spend accordingly.

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  15. My parents have always stressed to act my wage! I was also told that if I got a raise to continue living as if my paycheck was the same as before the raise. It helps immensely!

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  16. These are great tips. It is sometimes difficult, especially in today's society, to keep from looking at what everyone else has and not want what they want!

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  17. I love the last rule. I do believe that rewarding myself from time to time makes a difference. Hardworking moms deserve a break!

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  18. Great tips. It is difficult sometimes to take control over finances. I am guilty of spending when it is not necessary.

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  19. It is important not to overspend just to impress others. I try to live within our means. If the bills are all paid and we have extra then we can take a trip somewhere.

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  20. I really love this post and it's so important to always save money for the future and spending money wise.

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