Saving Money Is Easy In 2014

Easier said than done, saving money is more of will power on your side rather on the amount of your income. No matter how well or little you earn you have this innate thinking that you have not saved enough of your income no matter how large or meager the savings is. A multi-millionaire who has saved a million pesos might still think he has not saved enough but a simple minimum wage earner who has saved a thousand bucks thinks it’s a feat in itself! This situation sad to say is true! In my opinion, a man who earns in peso coins saves with peso coins while a man who earns in peso bills saves with peso bills!

saving money new year

Human nature dictates one tries to save whatever he can. Most financial analysts say that saving 10% of your salary is a good way to start the ball rolling. But really, with the high cost of living that is really hard to achieve, right. Then my suggestion is try to save even a portion of your salary not 10% but just what you can and that will eventually grow as long as you don’t touch it unless you really need to. For me personally, even the ubiquitous 25 centavo coin is savings earned and grows in my piggy bank. Another way to save money is don’t try to imitate your next door neighbor and try to have or buy what they have. Don’t envy their material possessions or try to be at par with their kind of living. Just live within your means and be content with what you have. Another way to save money is when buying gadgets, don’t try to be the first to have a particular new fangled gadget just because it is hot off the market and shelf, it is sure to be expensive! Try to wait a few weeks and it is sure to go down in price and what more, you are sure to hear important insights and user feedbacks regarding the product be it good or bad. I assure you that is wise advice.

I also adhere to the saying of creating an emergency fund, getting discounts where applicable, trying to lower your everyday household costs, and try to live a life based on a habit of spending less everyday. So, there it is saving money is not easy but it is doable as long as you look at it in the long term!

Author: Gilbert Dadia