Make a list
Make sure you write a list before you enter a shop. It’s very easy to convince yourself you need something that you actually only want. By writing a list you can hold yourself to it and will therefore be less likely to stray. You never know, maybe a list will be the thing which helps you save enough money to start investing, for example in commodities like Gold at BullionVault, shares on the stock market or even international currencies on the Forex markets.
Give yourself a budget
Draw up a budget to follow for every week throughout the year, and make sure you stick to it. Your budget should consist of all of your necessary purchases like rent, bills and food shopping. The rest should be stored away in case of emergency repairs. Budgets are a great way to keep track of your spending and prevent surprise bills in the future.
Don’t justify them
Don’t talk yourself into buying useless junk by justifying it to yourself. If you didn’t need it in your life before, then it is highly likely that you don’t need it now and therefore can avoid buying it. Excuses people often use include: ‘Just this once’, ‘It’s half off’, ‘I deserve a treat’, and ‘What harm can it do?’ To your bank account? As it turns out – quite a lot if you do this kind of thing often.
I know how tempting it is when you spot a ‘great deal’ in a store. Unfortunately even though there may be money off an item, you still have to pay for it. It might be a reduced amount, but it’s money you could be saving in an emergency fund for accidents, holidays, or adding to your weekly mortgage repayments. Also, a lot of the time these supposed ‘deals’ actually don’t save you money at all. Get savvy and walk past them if you don’t need the item.
Avoiding unnecessary spending is a great way to save money. However, it requires an investment in time and discipline. If financial hardship is affecting you and you need a payday loan, Cigno might be able to assist.
To apply, complete our quick and easy online loan application and send us your bank statement. Receive up to $1,000 in your account with our payday loans with manageable repayment options. For details, contact us.
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You can read more about this topic in our previous blog post: What Are Payday Loans? Your Guide To Understanding Payday Loans