Money is one of the most important things today, now without money, we might difficult to live every day. Because money is very important, we must use money wisely. Maybe we get income or salary, but there are some of us who don’t use the money wisely. There are still many of us who use money unwise, spend money just to buy goods that are not too important and urgent. Using the money to shop for things that can actually be postponed. And in the end, it makes us wasteful. Bad habits like this that can make our finances become chaotic. Therefore, on this occasion we will provide some tips that can help you manage your finances wisely. Pay your attention to a few tips below if you want to use your money wisely and if you want to learn to live frugally every day :
- Avoid buying goods are not necessary
Many people say that managing finance is very difficult because many of us often experience the temptation to buy a variety of needs or things that really don’t need to. There are so many people who complain because they feel they are being wasteful, they just don’t buy their needs but they also buy their desires and can still be postponed. The way you can use money wisely is to live a thrifty life. Living thrifty maybe is difficult for some people to do because when we living thrifty, we have to make a commitment and indeed have to intention to do that.
Maybe some people will feel difficulties when living a thrifty life because a lot of people are tempted to buy things that are not really needed. The key to wisely using your money is to avoid to bought goods are not necessary. So do not let you buy the goods are not important for you and don’t buy the goods that aren’t you need. You must think about it twice!
Usually, we will easily be tempted to buy items suddenly because there is a sale or big promo. This does not only make us more economize, but it wasting money. Therefore, from now ask yourself before buying goods, is the goods are really important for you? Or the goods just desires from your heart and actually can be postponed.
- Using an envelope system
To be thrifty, there are many things that you have to think about from now. Being thrifty is not easy, so from now on you should have a commitment to be able to use money wisely and well, so you can make savings. One of the things you can do to save the money you have is to implement an envelope system. Maybe some of you has heard of this saving system, and some have never heard of it. This envelope system is one of the easiest ways to manage your finances properly.
By using an envelope system, it will be very effective in helping you make savings. This envelope system is a simple method that you can use to save money and use money wisely. How do you use the envelope system? The first is to prepare some of the envelopes, then you give the name of each envelope in accordance with the expenses that you need. For example, food costs, transportation costs, electricity and water costs. Try to record all existing budgets so that later it will not be a hassle. After that, you can put the money into the envelope, and in the next month, you only can use this money for paying your bills. Do not let you use money more than what is in the envelope, with this system you can use money wisely.
- Record your expenses regularly
Furthermore, the way to use money wisely is to record your expenses regularly. As we know if managing finance is not an easy thing. Therefore there must be some tricks that you do to save your money, so you can use your money wisely. We recommend that you now start thinking about paying attention to your finances. In order, for you to be able to live frugally and be balanced, we suggest that you record each of your expenses regularly. Now there are lots of applications on your smartphone that can be used to record your finance, many application is simply easier to use.
Apart from using the application on your smartphone, you can also use a small notebook and write your expenses manually. Whether it’s for daily financial records or weekly financial records. We suggest that you must write your financial records in detail. Starting from daily expenses, weekly expenses, to monthly. We suggest that you must record everything completely so that you know what you are spending every day.
Besides, we also advise you to mark which mandatory expenses and which expenses are not mandatory. If you record it like that then you can evaluate your finances, you can reduce costs that might not be needed. This method is an effective method, so don’t miss it!
- Fight wasteful habits
Everyone must have a bad habit, such as they cannot manage their finances well. This habit can affect us, when we make a bad habit of doing waste, it can make us become unwise when using the money. Therefore, starting from today we suggest that you replace your bad habit in other ways. From now, you have to know what is making you a wasteful person? Because maybe you are not aware if you have spent money on waste all this time.
What can cause you to be wasteful? For example, the habit of going to café every day and maybe the bad habit of frequent online shopping is actually unnecessary, and other things. Look for ways so that you can skip such wasteful habits, for example by reducing the intensity of going to a café, reducing the shopping habits of goods in an online shop that is not urgent. Instead of using your money to make wasteful habits, we suggest that you use your money for wiser things such as buy mutual funds or join an investment so you can have benefit or assets in the future.
- Avoiding debt
The fifth way you can use your money wisely is to avoid debt. Maybe a lot of us are often in debt, owing to is done for many reasons. One of the things we most often encounter is debt through credit cards. If you want to use money wisely, then create a healthy financial system for yourself. Here we will discuss the use of credit cards that are often used as a medium to make debt.
Maybe many of us use credit cards all the time because credit cards are very easy to use and also very flexible. But credit cards have advantages and disadvantages to our finances. There are so many positive benefits that credit card give us, for example by using a credit card we can save money and also be able to control expenses well. But credit card also has drawbacks if they are not used properly, which can make you have debts that accumulate if you don’t use them properly. Therefore, from now take advantage of a credit card and avoid unnecessary debt because it can actually make your financial unhealthy.
- Prepare alternative bank accounts
The next way you can do to save your money and use money wisely is making an alternative bank account. Maybe you have been thinking, what is the use of alternative bank accounts and why do you must have an alternative bank account if you want to use your money wisely? This alternative bank account is very helpful for those of you who want to use money wisely and for those of you who want to save money. Therefore we suggest that you use alternative bank accounts only so it can help you to spend money wisely.
By using an alternative bank account, it can help you to save money and better to manage your financial system. This method is simple indeed but can have a positive impact on your finances. You have to start now, you can use the alternative bank account without ATM card access. So that every time you get income, you can send a certain amount of money to your alternative bank account.
One thing that we might need to remind you is that the money in your alternative bank account is only you can use for urgent purposes. Don’t let you use this money for things that are not important or to fulfill your actual needs that are not too important. We suggest that you use these alternative accounts wisely so that you can manage your finances well and use your money wisely!
- Buy second goods
The next thing we can make as a way to save our finances and use money wisely is to but second goods. Savings are actually easy, you can make savings by buying second-hand goods rather than new items that might more expensive. If your income is high and you feel that you can afford to buy new items then it doesn’t matter. But if you earn a little and you really need the item, we suggest you buy a second good that is still worth using because the price is still affordable and can make you save even more.
Second-hand goods are much more affordable price than new goods, currently, many of us find second-hand items that are sold in good conditions and also still function very well. Now you can use the internet because there are so many good second-place seller sites at quite affordable prices. Some types of items that can be bought second are vehicles such as cars and motorbikes, then books, furniture, house, and many things. If you can save money by using second goods why not?
- Avoid lifestyle competition
There are so many things that can affect our lives and in the end, we become wasteful because of that. One that greatly influences one’s financial life is their lifestyle competition. Maybe we often become wasteful dan do hedonism because we see other people lifestyles, for example, our friend just told if they shopping online because there is a big sale. It is likely that we will be tempted and eventually we will buy even though our financial condition may not be good at the time.Therefore we suggest that you all choose a healthy lifestyle so that you don’t become wasteful. Instead of living extravagantly but not calmly, you better live a simple but prosperous life right? From now, use your money wisely by buying things that you need only!
Being a frugal person is very important if you want to use money wisely. We have shared several ways you can do it so you can use money wisely, but you also have to be committed learning to manage your finances wisely. For you who still like to spend money on things that are not needed, stop now! You must start managing your finances wisely so that your money can be useful for your future. Instead of spending your money on unnecessary things, we recommend that you have to use your money for a variety of positive things like an investment. By following an investment it can help you use money wisely. In the future, you can take advantage and own assets from the investments you make!
Those are some tips that we can give so you can use your money wisely every day. The most important thing is to record financial regularly, avoid debt, learn to be a frugal person, and also learn to save your money. By doing a few steps, I’m sure you can use money very wisely. And it would be nice if you use your money to participate in several types of investments because it will make you richer. Don’t just read it, but apply the tips we provide above because it will be very beneficial for your finances! Hopefully, this article can help you a lot!
