07th May 2009
Saving money, part 2
In my last post i saw briefly on how to pay down your loans faster, to get away from liabilities, and how to later use this money for saving, personal use and investments.
This time we are going to look a bit on mentality. It’s a simple technique that might save you additional money. The first step is normal shopping; many go to the shop on daily basis, and often buy items they had no intention to buy, neither do they need it. And yes; I often fall to trap myself; but have reduced days I go shopping food etc to avoid buying unnecessarily items I normally would have bought. It is also to be advised to be looking at prices; often there is a price variation on groceries that might save you lots of money by finding the cheapest from each shop. You should of course be aware of the danger of buying additional groceries and items as you might have to go to more shops than normally. You should also keep in mind the driving expenses it might include to buy a cheaper shop far away. If its far away you might lose money going there if it’s just one small item from another shop. Remember it also cost buying gas, and maintaining the car. Make sure you include transportation expenses when you go shopping as well.
Another advice is to ask yourself if you really need what you are buying. I don’t mean you should ask stop buy everything, but there is no need buying more than you really need. I can give a small example; recently the display of my mobile phone broke. I went to the local shop and tried get a mobile phone. Of course the seller wanted me to buy one of the newest Nokia phones, and of course he tried sell me the new iPhone. But to be completely honest; I don’t need a phone with touch screen abilities, mp3 or camera. I have both mp3 player and a digital camera which a mobile phone can’t compare with. I had a small argument with two sellers, one started agree me with me, and the other kept coming with great arguments as “iPhone is cool”. Why should I buy a cool mobile phone? Why should I buy the most expensive phone on the market? I didn’t find any suitable phone that day; but some weeks later I found a cheap phone suitable for what I need: SMS and calling. It probably saved me for some hundred bucks, and it still works great!
-Kentaki-
In my last post i saw briefly on how to pay down your loans faster, to get away from liabilities, and how to later use this money for saving, personal use and investments.
This time we are going to look a bit on mentality. It’s a simple technique that might save you additional money. The first step is normal shopping; many go to the shop on daily basis, and often buy items they had no intention to buy, neither do they need it. And yes; I often fall to trap myself; but have reduced days I go shopping food etc to avoid buying unnecessarily items I normally would have bought. It is also to be advised to be looking at prices; often there is a price variation on groceries that might save you lots of money by finding the cheapest from each shop. You should of course be aware of the danger of buying additional groceries and items as you might have to go to more shops than normally. You should also keep in mind the driving expenses it might include to buy a cheaper shop far away. If its far away you might lose money going there if it’s just one small item from another shop. Remember it also cost buying gas, and maintaining the car. Make sure you include transportation expenses when you go shopping as well.
Another advice is to ask yourself if you really need what you are buying. I don’t mean you should ask stop buy everything, but there is no need buying more than you really need. I can give a small example; recently the display of my mobile phone broke. I went to the local shop and tried get a mobile phone. Of course the seller wanted me to buy one of the newest Nokia phones, and of course he tried sell me the new iPhone. But to be completely honest; I don’t need a phone with touch screen abilities, mp3 or camera. I have both mp3 player and a digital camera which a mobile phone can’t compare with. I had a small argument with two sellers, one started agree me with me, and the other kept coming with great arguments as “iPhone is cool”. Why should I buy a cool mobile phone? Why should I buy the most expensive phone on the market? I didn’t find any suitable phone that day; but some weeks later I found a cheap phone suitable for what I need: SMS and calling. It probably saved me for some hundred bucks, and it still works great!
-Kentaki-
Posted by Kentaki under 
Saving Money 
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