Most of us have seen the Pixar movie Up from a decade ago. A couple tries to save money in a jar they’ve marked for their ultimate travel destination but they keep on running into emergencies that leave them no option but to break into their small savings.
Having a goal is great motivation for getting to the end of that journey faster. With so many temptations asking us to surrender our hard-earned cash, it is easier to say yes when we don’t have anything holding us back. That’s why we recommend having an inspiration to help guide you in this journey.
There is no cheat sheet to doing this though, so if you want to save money, you must make it a habit. Here, we’re going to share with you our three top money-saving tips.
Make a diary of your daily expenses
It is important to know where our money really goes after we receive those monthly paychecks. One of the reasons people do not develop mindfulness for saving is that they are not aware of how their money is being spent. The Japanese have a word for this exercise and they call it Kakeibo. In this method, you physically write down all your expenses down to the last cent. Doing this every day will help develop in you the habit of being conscious of how much money you are allotting for needs and wants. At the end of every month, you can then evaluate if you have overspent on things that do not really serve a purpose in your life.
Be ready for emergencies
The sad sequence in the film Up involved the couple having to use their money for unforeseen necessities such as a broken tire and house repair. Some of the things that eventually eat into our funds are expenses that we do not anticipate. When we get sick, run into an accident, or just get down on our luck, we are forced to take out from our savings and have no option but to fork over however much is required. Getting ready for emergencies is an investment on yourself. You can do this by the basic principle of building emergency funds as well as making sure that you have insurance.
Choose the best buying options
If you are shopping anyway, it is imperative that you shop around. Maybe there is a better offer from the next store on that gadget you have been eyeing. If you are bent on buying a particular brand or design, maybe there is an exclusive Walmart coupon code you can apply online instead of purchasing in-store. These days, different companies offer varied promotions depending on how you are planning to shop. This is where research comes in and really pays off.
No matter how you do it, saving money takes time. Over that period, your priorities and goals might even change as in what happened in the movie. The best result you can take away from the project is the lifetime practice of saving money you will nurture. Regardless of the amount, this money can help take you on your next grand adventure.