Moving from neutral to financially secure part 2
Last week we started with the lifestyle changes that could help us control our spending, avoid impulse buying and free some money on our expenses list in order to facilitate our movement from a financial neutral stage to a secure state. Today we continue with three more lifestyle changes;
1. Save your loose change
You remember the old saying that "little drops of water makes a mighty ocean? well, it applies significantly in finances too. I daresay, even a lot more in finances. In my book "SMART MONEY" i spoke about the phenomenal effects of accumulation. Lets do some very basic math. If you should save 20p a day for 300 days (about a year), that will be 60ghc.This could pay for some very needed items at home or even take a huge chunk off your utility bills. What if you saved 50p a day? The benefits are enormous. Do not despise the coins, neither discard them. Here is an idea for you;
Last week we started with the lifestyle changes that could help us control our spending, avoid impulse buying and free some money on our expenses list in order to facilitate our movement from a financial neutral stage to a secure state. Today we continue with three more lifestyle changes;
1. Save your loose change
You remember the old saying that "little drops of water makes a mighty ocean? well, it applies significantly in finances too. I daresay, even a lot more in finances. In my book "SMART MONEY" i spoke about the phenomenal effects of accumulation. Lets do some very basic math. If you should save 20p a day for 300 days (about a year), that will be 60ghc.This could pay for some very needed items at home or even take a huge chunk off your utility bills. What if you saved 50p a day? The benefits are enormous. Do not despise the coins, neither discard them. Here is an idea for you;
Get a bottle, a
glass jar or a box and drop all your coins and small change into it every
evening when you get home. Before you know, you would have amassed a small
fortune. Remember, to be pesewa wise is to be a cedi richer.
2. Cook a lot more at home
Many don't realize it but the amount of money spent on eating out in a year is huge! If you are not sure calculate it this way. Imagine you spend about 10ghc a day on meals and you do that consistently for a year, that makes it 3650ghc. Shocking huh?
3. Buy
in bulk
Many don't realize it but the amount of money spent on eating out in a year is huge! If you are not sure calculate it this way. Imagine you spend about 10ghc a day on meals and you do that consistently for a year, that makes it 3650ghc. Shocking huh?
Save money by
cooking a lot more at home than buying from outside. It is healthier, more fun
and extremely cost effective. Instead of going out for a movie and buying
drinks and popcorn, invite friends over and have a home movie marathon.
Make your own
popcorn and mix your own drinks. Throw in some food, music and sweets and
you’ve got a party going.
There are wholesale prices and retail prices everywhere! Always make sure you buy your staples and
groceries in bulk. Wholesale prices allow for very significant savings on your
monthly food budget and it also makes meal planning easier. Do not forget to
check the expiry dates on these items.
Next week we will discuss how we can start planning to become financially secure.
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