Do you know how to save money? If yes, that’s great, but it won’t work well unless you can answer four simple questions about saving money.
Do you recognize new opportunities?
Why do you keep?
Whom does he save?
Can you make your decisions wisely?
There are several ways, but none of them can be effective unless you know why you are saving money and who will use it in the future.
- How to save money?
You have been looking for money saving tips. I’m not going to give you ideas on that. What I am trying to do is give you a different perspective on your failures.
You can decide how to save based on your income, expenses, lifestyle, and so on. You know exactly how it can work for you or at least how it can work. You have been successful in some of them but in the end you don’t have enough money saved.
When you get stuck the way you like it, it’s like you’re wearing blinders and missing out on some opportunities. You spend more than you save at one time.
You decide to buy your clothes on sale but can’t resist a new cell phone. You decide to limit eating out, but you can’t give up your favorite wine with dinner. Cell phone and wine are not on your list.
- Why are you saving money?
Do you really have a concrete goal that forces you to save or are you just saving out of urgency?
You need to have a strong reason for money because explaining why you are saving money is a powerful incentive to save if your reason is something you want.
Setting specific goals makes them stronger. Which of the following do you think is strong?
** Money for retirement or hobbies or for your dream home
** Money for the children or their education or that of a particular university
If why you want to save money is tight enough, how to save it won’t be a challenge. This is a very common mistake when it comes to saving money. You can never be sure how to save because there are so many different opportunities, but you can always be sure why you want to save. While the reason why you save money is in your control, how you save it always depends on someone or something else.
Your reason is more focused than your preferred direction.
There can always be a financial emergency and you will not be able to endure it for long if you are saving for an emergency. At this point everything can be in a hurry and you could lose your savings.
Also read: How to live healthy lifestyle
- Who will use your savings?
It is always easier to sacrifice for your loved ones. You can leave your needs for your children, spouse, parents, or best friends. But do you sacrifice yourself for a stranger?
Some people have trouble connecting with their future self as if they were a stranger.
If you believe that your future self will have different opportunities, better social and economic status, then you will not connect with your future self. You accept your future as a stranger who is older than you and who can handle everything in the future without your help now. Ultimately, you don’t want to sacrifice your current needs for what you will be in the future, without realizing it.
On the other hand, if you believe that your future self will only surpass you and be intelligent, then you can easily build a connection. Saving money for your future self, who is smarter than you, would be a good idea.
- Subtle targets
People subconsciously make decisions without even consciously thinking about them. There is only a small amount of time between your subconscious decision and your action.
Your subconscious mind is full of your relationship with money, experiences, habits, social relationships, religious beliefs, and so on. All your past is engraved in your subconscious mind and you cannot easily erase or change it.
Imagine that you always had enough money for what you needed. You don’t have to worry about money or saving anything.