Mega Mobile | Hottest Saving Tips for 2015
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Hottest Saving Tips for 2015


08 Mar Hottest Saving Tips for 2015

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Everywhere, you can find tips on how to budget and save money. But many of these tips are missing out on the most essential aspects. Below, we highlight the most up-to-date saving tips for this year.

Pay Yourself First

When asked about our saving habits, most of us will answer that we save what is left after all our expenses for the month are paid off. However, in reality, this couldn’t be any more wrong.

Surprising right? So how can saving money be wrong? First, this is not the proper way to save. In fact, when you stick to this habit, you give yourself the excuse to skip saving for a particular month, because you have too many expenses going on.

Therefore, you need to pay yourself first. Stick to an amount that you can afford to save monthly, say 20% of your income, and put that straight to your savings account instead of waiting for all other bills to be paid off. This way, you can ensure your money is safe before you even spend it accidentally on other stuff.


Build a Rainy Day Fund

One of the most common mistakes in saving money is the failure to build an emergency or rainy day fund. Many people think that the funds in the savings account can be used for emergencies as well, but when you think like this, you run the risk of draining all your savings in one fell swoop.

In fact, it’s advisable to build your emergency fund first. Aim to save an amount equivalent to about three to six months of your living expenses, so that you have enough cushion in case you got sick or lost your job. Once you have built enough emergency cash, keep those funds in an easy access account that will be readily available in times of emergencies. This way, you don’t need to tap into your own retirement savings, even if the unexpected occurs.

Separate Shopping Day and Buying Day

This might sound confusing, but the truth is, shopping and buying are actually different. When you’re shopping, you look around, but not necessarily buying stuff.

Be sure to keep your shopping days and buying days separate from each other. You can shop all week, try all on all items that you want, but don’t buy anything. If you have extra cash allotted for your wants, decide which item you really need most, and then purchase it when buying day comes. Even better, you may even change your mind and decide not to buy anything at all.

But what if you get tempted easily? Simple, leave your credit cards at home, and bring only the amount of cash that you need for real necessities.

Invest Your Money Wisely

In this day and age when everything feels uncertain, it’s not enough alone to save. If you want to get the most returns, and attain financial freedom sooner, make sure to make wise investments as well. It pays to have a mix of medium-to-high-risk investments where you get higher ROI, and low-risk investments where returns are low but where your money is safeguarded.

Don’t Deprive Yourself

Lastly, always remember that the key to a successful savings goal is enjoyment. When you become too hard on yourself, it wouldn’t take long before you get tired and give up altogether. Think of saving as a fun challenge, and don’t forget to reward yourself for every milestone you’ve accomplished successfully.


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