Choose the right tools: The Coin Bank
We were once taught about saving when we were kids. Just so you know, saving coins isn't just for kids. Below is a guide to let you get started.
Track your daily expenses
Taking control of your finances is important as taking your final year papers. It helps to focus on your spending issues and monitor them. It is essential to jot down what you spend in a day and collate them so you'll know where your money is going. Download a tracking app on your mobile phone or manually write it down. Create spending categories such as meals, transport, shopping and medical. Through this, you can know in which category did you spent the most.
Saving in small amounts
Saving money seems to be something hard to do when you have a little income/allowance. Don’t reject the thought! You can start by saving in small amounts. For example, save $2 at the end of the week. By the end of each month, you will have saved $8! Looks too little? The up your game by increasing it to $3 every week. Increase the amount at your own pace. Create a checklist and tick away the week when you have saved. This can motivate you to keep up with your savings!
Create a shopping list
Shopping for groceries can turn into something else when you do not have a list. Are you guilty of coming out with things that aren’t initially on your mind? Yes, we all have been there and done that. This is what we call, impulse buys. Some of us regret after some time. So, creating a list before shopping is important and is the easiest way to save! Create one and stick to it to avoid a hole in your wallet.
A penny saved, is a penny earned. Start feeding our cute coin bank with coins!