Often times you always think of ways how to save money to be financially stable in the future but most of the time getting started is the hardest point.
The will and the drive is the hardest to achieve to get your head on to plan a budget. In a recent study conducted for ASIC, across Australia only 44 percent of Australians develops short term financial plan while 23 percent focuses on the long term financial plan.
This reflects a little low in terms of statistics right? Are you one of the 44 percent or the latter? Living a frugal life doesn’t mean eliminating all the fun, it’s all about setting priorities and cutting back all the unnecessary spending.
Stick to your shopping list
Avoid instant gratification whenever you enter a retail store, why is this important? Because all those clothes that you like will have a price marked down, you just have to wait for it! So wait for it, smart shoppers are always patient.
Quality over quantity, always
Always keep in mind that it’s better to buy a good quality shoes that are a little expensive than buying a cheaper version that can be worn out in a few months. Buy the one that can last for a year or more, quality shouldn’t be compromised even if you’re on a tight budget.
Generic label over branded ones
Whenever you shop in a grocery store always pick the generic product over the branded one, this idea will save a lot of money in the course of time. Generic product are almost the same as the branded ones, compare your favorite blueberry jam on the branded jam on the stalls and you’ll notice that they have the same ingredients and content. Branded ones are more expensive because of the marketing campaign placed on them. Don’t be fooled.
Visit thrift shops
If you’re afraid that thrift shops can ruin the quality of an item, then you get it wrong. The whole idea of the buying on a thrift shop could be a little scary but you should give it a try, you might get surprised that some thrift shop sells quality stuffs in a low price.
What are your best tips in budgeting wisely?