5 Money Management Tips Specially for You
Dear friend, recently, I read about your concerns over the rising cost of items and utilities. So, I thought I will share with you these 5 Money Management Tips that I hope will be of some benefit to you and your family.
Like most changes in life, they will require practice and consistency to reap the benefits.
1. Impulse Buying
Most impulse purchases are made at the checkout counter. Before making that purchase go home, and wait a day. Ask yourself if you still want that item. If you do, then go back to the store and buy the item. If not, put the extra money on your savings account.
2. Buying Your Gifts
Have you ever thought of buying your holiday gifts and perhaps birthday gifts (for those of you who do such) during the year?
Not only will you avoid the last minute rush, you won’t be financially strapped during the holiday season. Better still, if you feel creative, make your gift.
3. Do You Take the Discounts Being Offered?
Ask for DISCOUNTS
When you receive your utilities bills this month, make use of the discounts being offered. Pay your bills early to receive the discounts.
If you are over forty, review your BARP/AARP (or your over 50 associations) booklet and where possible, shop at those places where discounts are offered.
Ask and it shall be given. Most businesses offer discounts even though they don’t make it public. Therefore, don’t be afraid when you make your next purchase to ask for a discount and see what happens.
4. Plan before you go out
Think before you act and plan before you go out.
Before leaving home for a night out with friends or co-workers, figure out how much you want to spend and stick with your decision.
5. Reducing your electricity bills
Turn off the lights when you are not in the room.
Wash a full load of clothes.
Turn off the TV, radio, fan and computer when they are not being used.
Plug out the iron when it is not being used.
Decide on what you want before going into the refrigerator.
Speaking about the refrigerator, when the children are on holiday, why not pack a cooler with all the things that they need for the day?
They wouldn’t have to visit the refrigerator, and will also see this as a fun thing.
You may say that you are doing these things already, which may be true. However, how consistent are you and the other members of your family in following these tips?
Make it a day in which you review how you are managing your money.
“Be Aware Of The Road, But Stay In Your Lane.” “The Mind’s Chaos Can Create Distortion Of The Truth.” Nigel D St. Hill
Love, Peace, Appreciation, and Gratitude
Nigel, Life Coach and Author Of EDS Barbados and The Caribbean
About the Author – Nigel St. Hill
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