Mitzi Ilagan | Negosentro.com
It is easier said than done: saving money isn’t a piece of cake, especially for young adults who still couldn’t work their budgets out. No matter how much you try creating a draft of your expenses and savings, there might be unnecessary spending that would occur–may it be a want or a need.
Saving is indeed a tough task, it requires skills such as discipline and contentment, right? Millennials today could have a mindset like “Maybe I could ask my friend to lend me a couple of bucks” or maybe, “The paycheck’s gonna come soon, anyway”. It sounds convenient, but in reality, one spends more when he does those. And now that it’s roughly 4 months away from Christmas, there are sure a lot of temptations that one could face, given that you could always squander it easily only because it is either on sale or it is an obligatory food or thing to have during the holidays.
So, here are tips on how you could start saving up, now that the holidays are coming.
1. Know Your Purpose
Saving up for something not “real” would make you feel less motivated to do so. Try to take note, or take down what you are saving up for (like a new LED TV for your parents or a talking doll for your favorite niece) and then you’ll surely know why you shouldn’t splurge after getting your 15th month pay for something you don’t need.
2. Start Today
Even if you don’t have concrete plans of buying a new appliance for your home or a new gadget for yourself, you sure are going to need extra money for the Christmas season. Your gift list could come late, but isn’t more convenient if you won’t worry about money at the first place?
3. Make A List
Whether you’re shopping for your whole clan or for just a couple of loved ones, a handy list would make you save more from buying irrelevant things. Make sure that you’d check it every once and then if ever changes should be made.
This is a magic word that suddenly attracts you, hypnotizes you and gets all your money. Sales are a thing during the holidays, of course, but don’t forget your list. You might actually find some valuable things at a sale, but remember that you should only buy what you need. Ask yourself, “would I buy this if it wasn’t on sale?” Take advantage of the bargains, but be sure to shop wisely.
The Fear of Missing Out is an issue in most millennials today–if they’re out, they’re not “in”. Saying no sometimes mean missing out, but it does not always refer to something as essential as buying staple food. All you have to do is think about what you could do more if you would forget about that FOMO. There’s an iPhone coming up in the market? Well, your current phone might have better specs. You don’t have that lippie that your girlfriends have been using? Well, your lip liner may look better than that.
6. Think long-term
You may seem too happy drinking out with your friends on a Friday night at a high-end bar, but how much is left on your savings account the next day? You probably might deduct a part from next week’s allowance too. If you would like to wrap up nice presents for the holidays, make sure that you’d get to think about what you are going to spend first before doing it.