Saving money is a major problem of a great number of people all over the world. Most of them fail in saving as problems with health, car, cell phone, strong desire to buy particular things always occur. It’s so hard to control yourself when you know for sure that you have money and you, theoretically, can use them.
However, it’s a question of self-control and self-discipline. We aren’t going to raise this issue. In today’s article Personal Money Service is just going to teach you to save money in 4 simple ways.
Today we decided to turn to Warren Buffett – the most successful investor in the world. He was ranked as the world’s wealthiest person in 2008 and as the third wealthiest in 2015. In 2012 Time named Buffett one of the world’s most influential people. Therefore, relying on his vast knowledge that really works is the wisest decision.
Of course, our idea can be perceived skeptically as Warren Buffet applies to his billions and teaches to save keeping in mind that he has tons of money. Nevertheless, it would be impossible to become such a wealthy person without knowing how to manage money.
We think that you already excited and looking forward to changing your life. Therefore, let’s postpone these talks to the times when we all become a little bit richer!
It’s so difficult to become wealthy when you don’t realize the value of the money. When you waste your incomes thoughtlessly, you are about to play with a fire or even more likely with a fortune. Living a modest life isn’t about wearing old shabby clothes and eating frozen food. It’s about spending money on something you need and realizing the sense of every substantial purchase.
Of course, it’s a kind of weird to hear this tip from a billionaire. Still, most of the wealthy people are cautious when it comes to wasting money (not spending).
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Saving money is a difficult process as it requires a lot of patience. As it was mentioned before, there always be things that “urgently” require money. But if you always apply to your savings, you will 100% fail. It’s important to learn how to get out of the stressful of critical situations with the smallest harm and losses. Another variant lies in supplying your savings every week, month or floor of a year, especially when you were forced to spend them. Even the smallest financial contribution will make sense, as every house is gradually being built from every single brick.
Not Being Compulsive
Even though this tip refers to stock trading and investment, we can use it for common purchasing. In everyday life, which is, actually, far from business, it’s important to have a cold head and choosing the right time for purchasing. For instance, you don’t buy clothes if you know that discounts are coming soon. Or you don’t buy house or car when there is a huge demand for them. Obviously, you don’t make any huge purchase when you don’t have a lot of money.
Therefore, it’s essential to be wise and avoid compulsive buying. The most effective tip (not from Warren Buffett): if you want to buy something so badly, you should go home and sleep one night with this desire. If for the next day you still want to buy this, as strong as the day before, you should think about it. Otherwise, the desire to buy something is based on the compulsion. Always keep in mind the consequences you will face with after purchasing something.
Being Ready to Set Priorities
This tip is connected with aforementioned ones but we want to emphasize one more time – setting priorities when it comes to purchases will help you to save TONS of money!
Choosing between eggs for the breakfast and sunglasses for the vacation the next year is ridiculous, on the surface. Nevertheless, there exist people, who would choose sunglasses. These people more often fail saving money.
Buy things that are important to you. Then in the future, the fortune will reward you with eggs and sunglasses for the next vacation.
Saving money is difficult and sometimes it’s easy to give up. But keep in mind your goal and realize that achieving it is impossible without attempts, control, and dedication!
At last, if you adopt these 4 useful rules, you will never need to worry about ways to get a personal loan to pay off your credit card. Good luck with your savings!