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Photo by rawpixel on Unsplash

7 Tips & Tricks for finance balancing and saving money

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Wants to know how to save money in order to balance your finance? Many important points must be considered. So that you can save consistently!

There are many steps for starting to save in our daily lives consistently. However, there are still many people who find it difficult to save because their money has been used up for their daily needs. Why did it happen? This is because of the lack of application in habits and in managing finances consistency.

EXAMPLE: While you went to store for buying something needed, but it appears over from priority or out of the substance list. It means that you are not consistent yet. OR even have you tried to thrifty and economize on your money, but the results still unawareness? Maybe your saving strategy is wrong and needs to be corrected.

Quote: If you want to be a rich man, you did not do what you produce but what you save! So SAVING is the most important and most prominent word to get wealth. Therefore, here are the most effective tips and tricks which in the right way and easiest to be applied that has chosen, supported expertise. After reading these lists below, round your resolve, strengthen your intentions, and let’s go saving!

1. Write list stuff which is needed before shopping

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This method is used to monitor the activities we do with our money so that at least we have the remaining money that can be saved for savings. Even though it looks too complicated, this method can be used to overcome the weakness of the spirit of saving.

Because with the list of needs and expenses when buying household needs. We can see something that we have bought and the money spent in accordance with what we need. Therefore, we can avoid excessive purchases goodly, such as a focus on outside of the main needs.

This method is very effective. It prevents for spending money excessively. In other hands, we also can see the results of a list of expenditure records. We must can be aware of what we are doing that spending all that money is not good. Hence, the list are often helpful as analysis material to keep up the menage monetary balance systematically.

2. Compare the outcome and income on once a week

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You don’t need to be rich people for saving. Actually saving is very easy, as long as your outcomes are smaller than income. Before you decide which savings to economize the income, you have to know how your habits in spending money every month according to the income which you get.

Therefore, you’ll attempt to record the result and financial gain daily, weekly and monthly expenses. Use a folder that is simple to hold all over or use a sensible phone money application. Do not be surprised if it turns out that the habit of drinking coffee, which is only Rp. 25,000 per week, can actually reach Rp. 2 million a year. If you find things like this, then you should save money by making your own coffee. Likewise with other expenses, to buy clothes, just wait when there is SALE and set a budget limit which can be used during shopping.

In conclusion, our income and outcome are able to monitor, then can be a material consideration for managing finances in daily needs.

3. Do a prize comparison among one shop to others

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After we have the habit “TO DO LIST” and write whatever items we need to buy. From there, we get a price record or receipt from the store or market. We can mark and circle the cheap price from the store. Therefore it can match the budget by our time.

The price documentations are for consideration of the price of each shop which is visited. For example: you buy the needs of toiletries such as soap, shampoo, and toothpaste in various stores that are different every month, so you can compare the number of prices from one store to another. Is it the same or not?  if there any differences, then select the cheapest price list with other stores.

4. Turn off the electric which is less in need

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One of the best ways to save money is to turn off and subtract the electric at home which less needed for detracting power. There is an advantage to make a lower electric bill if you turn off lamps when you were not at home, using the washing machine once in two days, turn off the television, not using air conditioners every time, and reduce the volume of the refrigerator.

5. Bring food & drink and avoid consumptive habits while outside home

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There are many ways to save money without having to suffer. You can bring foods and drinking water from home. This is very helpful and easy for us to do in our daily lives.

E.g.: Cooking food or carrying supplies and drinks while working, having a family trip, traveling are a good habit to reduce big expenses.

This method is very effective based on the author’s experience, because that is the way we hold back from spending money outside and one of the things. It makes wasteful food which is a mandatory requirement wherever and whenever. Hence, we must be able to minimise the habit of saving by bringing home necessities.

6. Make rules & doing evaluation for your progress once a month

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All of the tips above will not work if you cannot be firm on yourself in reducing expenses. Convince yourself that you really need to save for a better future by making a rule, e.g.: like making a schedule to set aside spending 20,000 / week, using TV 5 times a month, buying things as needed. If you don’t do it seriously, the results will not be optimal.

Perform monthly analysis of all payoff of financial gain and outcomes for your family money desires or personal desires that you just have noted. So, it can be used to measure, what things need to be managed, reduced, replace cheaper ones and what items need to be minimized.

7. Money Storage (closed piggy bank / jar / drink bottle)

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Another way to save is easy enough that you can start by saving coins. Is it hard to set aside coins? “I THINK, IT IS EASY FOR YOU”

The value may be very small now but if you are diligent in saving coins you can buy what you need. An example is you can buy shopping needs for the following months using the coins that you save. This can be very helpful to reduce the expenses that have been needed in the future.

Thus, we are looking for a suitable place to save money in advance. We can use storage such as closed piggy bank / jars / drink bottle. It will be stored in our money properly.

It is recommended to use a transparent place. It can save money while being able to pay attention to it. If more money is in a transparent storage, it will make more eager to collect coins for us. Hence, there will a lot of money that you can save step by step.