If only money grew on trees. Well, dream as much as you want but the sad reality is money come, money goes. Therefore like it or not, saving is a habit that must be cultivated in our daily lives. You never know when you may be running out of bucks. Worse, when it is an emergency. Hence the need to trim the bucks wherever you can. Here are 5 saving habits which may be useful for a rainy day, or a storm.
Prep your meals
You will be surprised how much you can save when you prep your meal instead of eating out. To prep your meal, first decide on the kind of meal you would like to prepare. Buy your groceries weekly instead of heading out each time you need something. Stick to a grocery list and buy only what is necessary. It is also easier to cook in bulk to freeze and defrost another day. Besides saving on money, you will also be saving on time deciding where to eat.
While some of us are capable of spending a fixed amount of money and saving the rest, most of us are not. Stop kidding yourself and make use of the auto-transfer feature in our bank account. Set an auto-transfer from your current account to your savings account on the day after your pay is banked in. For instance, if your pay were to come in on the 27th of each month, set an auto transfer for the 28th. This way, you will be forced to use what is remaining in your account instead of overspending.
2 days rule
If you were to see something you like which may be pricey, give yourself two days to think it through. Two day later, if it does not seem as important as it was to you the two days before, then you do not need it. But if it is still important, then there is no harm in a little spending. But then again, know how to prioritize what is important and what is not.
You have been planning to travel for quite a while now but just can’t seem to save up enough money? Get a wish vase! First decide on when you would like to travel. Let’s say you would like to travel 100 days from now but you will need at least three thousand dollars, do the math. To save three thousand dollars in a hundred days, you will have to save thirty dollars a day. Like a piggybank, put in thirty dollars each day into the wish vase. Saving thirty dollars a day is definitely more manageable than coming up with three thousand dollars at any given time. This does however require a huge load of discipline. So its up to you to decide which is more important, achieving your dreams of travelling or not saving thirty dollars a day.
Secret stash only works when it is a secret. So to do this, assign someone you completely trust with your life to handle your secret stash. If I were you, I would assign my mother because no way will she steal my money nor will she allow me to steal my money. Pass to whoever you have assigned a certain amount of money each week and ask him or her to store it in a place known only to that person. Inform them that in under no circumstance can they reveal the place to you. You too try not to snoop around. Assign conditions to when the money can be used and inform the person in charge that only then can they pass the money to you.
It is never too late to start saving. When the time comes, you will be glad you practiced these little saving habits.
Kiirtaara is a proud 24 year old Malaysian from the small town of Ipoh. She is a Bachelor of Psychology (Hons) graduate and is currently a part-time freelance writer with a full time job. She is also a huge mental-health enthusiast and avid animal lover.