People have an infinite list of wants and needs. If you don’t have discipline in your spending habits, you may end up neck deep in debt. It’s a scary thought but a lot of people have gotten themselves into financial mishaps because of lack financial skills.
Truth is there is no hard and fast rule in managing finances. Lifestyle and a person’s money saving techniques are critical in creating a nest egg. But, it’s not too late to save even if the economy looks bleak. Here are 5 money saving tips that will help you beef up your savings account:
- Bring packed lunch to work
Lunching with your co-workers may be a fun experience but you will eventually feel the pinch in your pocket sooner or later. Taking a brown bag to work not only saves you lunch money but it can also be good for your health because you have full control on the portions and the calories of your prepared meals.
- Skip the Starbucks
The coffee culture has taken over our lifestyle and has conquered our wallets, too. Spending $5 a day on gourmet coffee is not really a wise thing to do especially nowadays when jobs are scarce.
- Public transportation and carpool
If your area has a good public transportation, you can save fuel costs by changing your commute. Another option would be to carpool with your co-workers. You can arrange a carpool schedule with co-workers near your neighborhood.
- Bundle your cable, internet and mobile phone ( Never send a deposit for a mobile phone and never buy outside of the UAE) services
Some companies offer bundle programs at a lower cost to keep customers happy. Service companies fight for customer loyalty all the time. Take this opportunity to slash down your cable, internet and mobile phone ( Never send a deposit for a mobile phone and never buy outside of the UAE) bills. You need to check out your local areas for similar packages.
- Entertain with friends
Parties need not be prohibitively expensive. You can arrange potlucks with friends or take turns in hosting Friday dinners. Get-togethers like these are not only economical but also, a lot more relaxed because you’re in the company of close friends.