Financial freedom—perhaps, no one in this world doesn’t have this in their list of life goals. Being economically independent is one of the ways to achieve happiness. I know, money can’t buy happiness, but debt surely causes stress, sleepless nights and mental breakdowns.
To jumpstart your way to wise-spending, it’s important to set your priorities. Know-how is just 20 percent, while self-discipline and behaviour change make up 80% of the equation. You can do it by starting small with these steps.
- Make a Grocery List
Impulsive buying is the number enemy of financial freedom. Although it’s not advisable to deprive yourself, giving in to this whenever you go grocery shopping can seriously drain the bank. So, before heading to the grocery, make a list of your essential buys and make sure to stick to it. And never shop when hungry as this increases the possibility of impulse buys.
- Walk More
Having a car is convenient, but also expensive. Every time you start your car, there’s equivalent gasoline consumption. Even if oil prices have been dropping, it’s still additional expense. To save money on gas, walk more or drive a bicycle instead. Your legs won’t burn fuel, but instead they burn fats. So, other than saving on gas, you also get to enjoy the scenery and burn extra calories.
- Save on Your Mobile Service
Mobile phones have become a necessity nowadays. However, network providers charge users with steep prices with every use. To save money from your mobile service, reduce talking time over the phone and head to a friend’s place, instead. Lastly, and most significantly, minimize online shopping. You’ll be able to save money on internet usage and for not impulsively buying things you see online.
- Make the Game Realistic
Calculate the exact amount of money you’ll need to be financially stable. Most people create an amount that’s too big and impossible to achieve, which causes them to delay their saving. Also, evaluate your spending habits and look for ways to speed up your goals—from limiting food takeouts to reducing taxes and earning more. There are many ways to achieve your goal other than saving a portion of your monthly income.
Your financial stability largely depends on your everyday habits and decisions. Even those decisions that seem harmless can make a difference at the end of the month. You don’t have to be a hundred percent frugal, but a bit of discipline and self-restraint goes a long way in getting you to your goals.