Posted on Friday, December 27th, 2019 at 12:12 am
Saving money is important, but most people do not find it to be fun. People tend think about all the things they could be spending money on and tend to feel that they are missing out. One way to save money is to change your mindset.
Realize that saving money is a privilege. There are many people who are deeply in debt, with no means of being able to pay it off. Some people are are struggling to pay their utilities and rent, and are unable to afford to buy food or pay for their medical care. Start viewing your ability to save money as a blessing, not a punishment.
Learn to separate your needs from your wants. A “need” is something that you literally cannot live without. This can include food, medical care, and weather appropriate clothing. You need to pay your rent (or mortgage) in order to live indoors, and your utility bills so you can have access to warmth and water.
A “want” is something you would like to have but can live without. A “want” could be the newest smartphone (when your older one is still functional). It can wait until you save up for a new one. Start thinking of saving money as the way to get the treats that you don’t truly need, but desire to own.
Does it seem like you are always running out of money? Why does that keep happening? It could be because you aren’t thinking about what you spend. Buying a coffee before work doesn’t sound too expensive – but it can add up if you do it every day. Start collecting receipts, and it will open your mind to your spending habits.
Change your mindset to see the benefits of saving money. It makes it easier to do!