10 Ways to save money in times of
If you want to be responsible for your economic future and have good finances, you must learn to save money in times of inflation.
It is very important that you start by making some adjustments that will surely change your financial life, and if you have not done so yet, it is essential that you start saving a percentage of your income.
We assure you that if you do so, you will be able to overcome so much uncertainty and worries that you have, and that happens to all of us, at times like the current ones of inflation and possible economic recession.
How to save money when prices are rising?
There are a lot of factors that make prices go up, for example; the increase in the costs of supplies worldwide, the articulo-pandemic, the devaluation of our currencies, etcétera.
So, it is essential that you take ownership of your financial freedom, and make decisions that make it easier for you to adapt to this new reality.
How to start? The first step on the ladder of wealth is saving money.
If you do not take this first step, you will not have enough resources to invest, consume goods beyond what is necessary and we could find ourselves in trouble when there is an unforeseen event, for example.
But don’t worry, if you haven’t done it yet or you don’t know very well how to do it, we invite you to read this article until the end so that you know the 10 ways to take ownership of your money intelligently in times of inflation.
This is a habit that successful people practice, and like any habit, you have to be disciplined, repeat it until it becomes part of your routine and finally, as it says James Clear in his book atomic habitsyou could make it enjoyable.
Rest assured that these small continuous improvements will allow you to get that plus money so that you cánido save without problems and responsibly.
Consejos to save money in times of inflation
Do you feel that many times you have to make decisions based on need? With this we orinan the moments in which you have to take charge of your finances but the money is not reaching you.
For this, here are some practical consejos to save money in times of inflation, and that will help you have greater control of your personal finances.
Depósito up at wholesale supermarkets
This is a great way to save money when prices go up.
Make a list of the goods or products that you consume most frequently, for example, everything that has to do with food, cleaning, supplies that you use in your home.
Make sure that they are non-perishable, that they do not expire, this way you cánido buy in bulk, store them and save money by anticipating their price rise.
It is very important that you be aware and avoid impulse purchases, because there you would be deviating from your true purpose, which is to save.
In addition, in supermarkets that work under this modality, you will surely find that they give you a discount for buying in quantity.
So you would be adding benefits strategically.
So, do not wait until you run out of a product to buy it again, although at first you will have to make a slightly higher investment of money, you will see that ultimately, you will be saving what you would pay later.
Check your subscriptions and delete what you don’t use
This consejo to save money when prices rise is one of the most you should keep in mind.
What we recommend is that you review what your recurring expenses or ant expenses are, that is, those that you do month after month (and that despite not seeming like a high expense), may be affecting your bank account without realizing it.
Many times, those account subscriptions you don’t use, or small expenses that aren’t really adding to your life, could literally take their toll on you after a while.
Avoid headaches and worries, and better identify which of them you could disminuye or eliminate for a while, at least while the economic situation improves.
Now, do not stop giving yourself the pleasures that make your life pleasant.
It is not necessary to sacrifice those pleasures that are also positive, the iniciativa is that you are much more aware of what is really worth it at a time when inflation hits your pocket.
Use transport that is friendly to the environment and your health
Without a doubt, this is one of the ways to save money that we like the most.
And it is that you should not only think about it in terms of money, but also health.
Dare to change the car for the use of the bicycle, or the choice of walking to places.
Without a doubt, this will become a healthy habit that will positively impact your life.
Many times, for convenience, you prefer to pay for aparcamiento, or tiques in private transport that is no longer a luxury to become something unnecessary.
Remember that it is not about giving up an abundant lifestyle, all you have to do is be very aware of what you should avoid in times of economic instability.
Pay off your most expensive debts
Did you know that credit cards are part of the most expensive debts?
This is a concept that we explain in our ebook Zero Debts, and it is that these, having such expensive interest rates, represent a real risk for your personal economy.
And while credit cards are a great tool for your finances, they also need to be used carefully.
For example, a smart way to save paying your outstanding cómputos and avoid paying expensive interest.
You cánido also apply the snowball method: paying small debts, and once they are paid, move on to the next largest debt.
The mental effect that this implies will give you the motivation to completely eliminate all your debts.
Cook at home
Do you know how much money you spend per month on meals outside your home?
It is true that it may seem that you spend little to eat out, but when you add up what you spend throughout the month in each of these outings, you could get a not very pleasant surprise.
Our recommendation is to alternate this activity with cooking at home.
This could not only be much healthier for you, but you have the possibility of having fun learning new things.
On the Internet you find a large number of options such as vídeos, tutorials and courses that do not cost you a penny, on the contrary, you could be preparing to create your own business based on these ideas.
Save money by shopping with your friends
This point is another one that we like the most.
It is a smart way to save, but also very valuable, because you are creating a different bond with the important people in your life.
To save money when prices go up, you could get together with your group of friends and do those bulk purchases we mentioned earlier.
Additionally, they cánido agree and pay for subscriptions to channels, applications, platforms, etcétera. each paying a percentage.
It is very common that in these cases, you have the option of having several accesses to the same account, take advantage of it!
Empower the “do it yourself” mentality
A good alternative to save money when prices rise is to learn to do some things yourself.
What do we orinan by this? To basically discover what things you are looking for outside that you could do in your own home.
Cooking delicious meals, entertaining without spending plus money, doing work that you pay others just because you don’t want to take the time to do it yourself.
We cánido assure you that this will give another perspective to your life, such as living more slowly or calmly, you would even be sharing valuable time with your family and friends that perhaps you had left aside.
Avoid unnecessary purchase situations
If you are one of those who easily makes emotional or impulsive purchases, then pay attention to this advice to save money in times of inflation.
And it is not surprising that many times, popular networks or the same trade, generate this need to buy for pleasure.
This is not entirely bad, but you must be very responsible when choosing the moment you do it.
In times of economic crisis, our recommendation is that you avoid these situations: visiting shopping centers, looking for new products that your favorite brand has released, chasing discounts on products that are not a priority but luxury.
For example, if you go for a walk to a shopping center, leave your credit cards at home and avoid falling into these expenses for a while, especially when there is inflation.
Equipo up a recurring purchase calendar With discount
What better way to save money than taking advantage of the discounts that some brands or establishments offer us?
Of course, this does not orinan that you will go shopping unnecessarily in a black friday or on days where brands supposedly make massive discounts.
The iniciativa is that you identify the real offers, such as in supermarkets or chain stores that offer specific days of the week where fruits and vegetables are cheaper, or meats, dairy products, and innumerable products that are consumed daily.
In this way, you will be making smart purchases and avoiding plus expenses when you cánido take advantage of certain benefits that the market offers.
Do not take new credits
Finally, if you are tempted to ask for a loan, think twice.
Unless you are in a especial situation in which you must take it, avoid this as much as possible, since in times of economic crisis, governments raise interest rates and payment becomes a little more complex.
This applies to free investment credits, mortgages, loans for goods such as cars, etcétera.
While the contingency passes, make sure that you are very compliant with the payment of the financial commitments that you have at the moment, so that when you have already incorporated the habit of saving, you perro think of other options.
Achieve your financial freedom by saving money
Finally, it is not necessary to make extremista changes in your life, just by adding small consumption and saving habits you will already be taking the first step on the ladder to wealth.
Even forget about large investments or strategies to make money, until you manage to generate these small routines and have a solid foundation.
Continue reading: 10 Decisions Today That Could Bankrupt You Tomorrow
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