The Key to Having More Money
Do not spend. Period. That’s an absolute way to have more money. Think about it. If you didn’t have to spend, and just kept on gaining or earning money from work, you’d have all that money in the bank and won’t have to worry about your future anymore. There is a big “but” here, though. Who in their right mind would not spend any money that he or she acquires?
That’s what earning money is about, right? So we can go ahead and spend it. The key here is to know when the right time to spend it is. And what it is for. And that’s why budgeting exists. You have to know how much you are going to spend in a week at least. Try some of these tips on saving up.
1. Save up. Take about 10% or 20% of your income from what you are making and stick to it. And no matter what, do not take out your money unless you absolutely need it.
2. Set a limit. That about says it all. Why would one person need to spend 2,000 pesos a week, right? Well, considering you are an ordinary student, you really do not need that much money. You can keep most of it and spend it for later.
3. Keep track of your expenses. List everything down, keep the receipts if you can. This gives you an idea on how much you spend on necessary or unnecessary items.
4. Classify what is necessary or unnecessary. This is very important. When you realize that you are actually spending more on unnecessary stuff than the necesssary ones, check number 5.
5. Cut down on the unnecessary expenses. Seriously. Do you really need those extra sandals when you already have a couple of pairs that you don’t even use?
6. Plan. Like they say, if you fail to plan, you are planning to fail. Plan your week, and make sure you go according to plan. Sure unpredicted events can happen, but it wouldn’t hurt if you also have plans of your own.
7. Do not procrastinate. If you have something to do, then do it right away. Don’t put it off till later. Time is essential and waits for nobody, but that doesn’t mean that you can’t be patient also. Just do not procrastinate.
That’s about everything that I have right now. I’m still working on how this money making thing is going to work. I can safely say that I have saved up more than what I have spent in a week already. Hopefully, I don’t run into anything that will rush me to my doom.
