Tips on Spending Wisely

[Carpon]

Almost everyone needs to have the knowledge on how to spend wisely. It could be more pressing for people with low income level and this is so because people with low income level may have the issue of being unable to properly settle all and every need without the application of wisdom.

Here are some tips on how you can apply wisdom in your spendings.

✓ Avoid spending without budgeting. Before you begin to use any funds you receive, make sure you have a budget that you made which will give you direction as you spend.

✓ Don't buy things you do not need urgently or things that you don't really need or can do and fare well without. There are better things you can use money for rather than buying unneeded things.

✓ Cut spendings that are on leisure and enjoyments. It is good to spend for your leisure and enjoyments but in a condition when you are trying to stabilize your finances, you may need to work on that.

 

[Holicent]

Nice post. I have always mentioned those above in my "money saving tips" threads. Also, making a plan should be your first priority. You must be very certain about how and what you will do with your money. You will just waste time and money if you don't have a plan. Spending more than you make is the second obstacle to making money. This means that if you make $500 per month, you should attempt to spend less than $500 per month. While it could initially seem challenging, as you get used to it, it becomes lot simpler than previously. Procrastination is the third issue that prevents people from making money.

When someone wants to conserve money, procrastination may really make things difficult, especially when it comes to paying bills or getting paid back on loans or credit cards. The reason for this is because there are so many things that are due before the end of the month and so many things need to be done by then that it seems impossible for them all to be completed on time without some help from others.

 

[Heartstrings]

It's good to spend wisely and not spend anyhow just because the money is there. In as much as we pray for a better tomorrow and future,no one knows or can tell what the future has in store. It is always advisable to have a budget as you mentioned,it saves you alot of money,you can't just start spending just because you have the money. If you must spend,do it considerably.

I have a family member who lives comfortably, the money and everything they need is there but this person doesn't know how to spend and those around the person do take advantage of this, in terms of buying foodstuffs is the worst,they do give this person twice the price and believe you me, this person will pay without any bargain. I find this so annoying and it's one of the disadvantages of spending money anyhow just because you have the money.