These few months I have been spending my hard earned cash as if I have a bottomless safe vault! Ha :D That's what happened when you don't have proper budget to gauge your spending habits. Thank goodness I have my wife to watch out for me. But most of my moolah are victims of foods. Can't help it I guess. Sometimes when you chance upon some special food, you just can't control your lust for it right? :p But we all know we have to be frugal right? Especially during this testing time.
No matter you like it or not, the global financial crisis is not just a cliche. A lot of people are affected by it. We should not just brush off the risk that we might get into. We shall never know what will happen. The next thing you know, your company might be bankrupt due to some unforeseen reasons and you can do nothing but take your sorry ass and move on! So we'd better be prepared for the worst and unpredictable future.
Cut them all!
What should you do then? We should recession proof our finances to ensure the safety of our fiscal security. Go grab your calculator and keep track of all your spending. Go even deeper by checking your bank and credit statements and find out where the expenses go? Here's some tips to manage your money:
1~Ensure that your paid for your credit card debts on time to avoid paying the extra charges.
2~Cut down all the unnecessary bills (house landline, mobile services etc.)
3~Check what is on sale at the moment.
4~Don't stack up on products and items just because they are on sale.
5~Keep a seperate bank account for 'savings' only, instead of scrambling for cash when hard times hit.
6~Stash some emergency cash, but put them in a place where you won't be able to grab them easily.
What's next? Educate yourselves so that you won't be the victim. Read as much as you can about the economic crisis and how you can survive it. Make sure to keep yourself updated on what's happening in the news and in the market.
7~Reduce your utility bills. Safe energy and cut down on your water and electric bills. Turn off the tap when you are brushing your teeth. Replace bulbs with energy efficient fluorescent lights. If possible shut down and turn off your power at night.
8~Use possible transport whenever possible, walk or utilise that bicycle which has been collecting dust. This way you can start leading an active lifestyle again right?
9~Stay away from "quick money" scheme trap, especially during this tough time.
Sometimes we have to do our groceries right? I mean some of us have to do it on a regular basis. Be it monthly, weekly or even daily. But the visit could Tesco or Jusco can potentially cause your wallet to bleed profusely. They have so many "sales" trap awaiting you. So here are simple rules to a cost saving trip to the groceries:
10~Make a list before going to the store and stick to it.
11~Re-check your receipts so you do not get overcharged by mistake.
12~Compare the places you are going to shop at and go for the ones that offer coupons and better discounts.
13~Check the expiry dates before you purchase your goods.
14~Resist bargains galore! If you don't need it, pass it!
That's all I can share with you folks. I believe you already knew all of it right? Then I hope this can serve as a reminder? Have a great day everyone. :) I hope you find this tips useful. Remember, it always pays to be Frugalicious!
Save for your future.