Here today, gone tomorrow. That is the situation with money. Things are getting expensive by the minute, and life is getting tougher. Do not despair though, the little penny that you have can still carry you throughout the month. Follow the tips below and be more responsible.

1. Know Your Purpose For Spending Money

Why do we make purchases? Most of the time, my wife and I buy things because they are either aesthetically pleasing or they make our life easier in some way.

2. Avoid Shopping As A Recreational Activity

Have you ever gone to the mall out of sheer boredom? Have you ever gone shopping without a clear objective of what you set out to buy? One of the fundamental principles of spending wisely is to avoid temptation and shopping for fun.

3. Don’t Buy Specialized Products

Stick with products that have a variety of uses rather than a single specific purpose. For example, do you really need to buy a special tool to help peel your orange when you can just use a knife and your hands? Do you really need an ice cream scooper when a regular spoon will suffice? Do you really need a separate printer, fax machine and scanner when you can get an all in one device?

4. Spending With Your Brain

Let’s face it. We are all human and we all sometimes get carried away with our purchases. The key to spending wisely is to cut out as much temptation as you can and evaluate what is truly important to you.

5. Avoid Shopping With People That Like To Shop

People that like shopping will drive you into wanting to spend when in actually you are not supposed to.


Source: Youth Village