Spending more than you earn is the fastest way to go broke in no time and have you living from hand to mouth, waiting for the end of the month to sustain yourself. Cultivating a saving habit is the best gift you can give yourself in an economy as tough as ours. So while you try to identify your weakness and work towards overcoming them, these few tips can help you come a long way.


Eat Healthy And Buy In Bulk

Yes eating healthy helps you save more. When you eat healthily, your immune system is strong enough to fight against flu and sickness most of the time. When you eat healthily, you also cut off the expenses that come with eating junks that will only leave you fat and unhealthy. While preparing for work, have breakfast and pack your lunch instead of going to restaurants.

Stay off alcohol and soda, save the money and just drink water. Water makes the skin the glow

When it comes to stocking up your house with foodstuffs and provisions, do that once a month. Allocate a certain amount and use the funds to buy all your groceries at once, buy-in dozens or packs instead of buying every other day. You’d be saving a little cash that way.


Thrift Shopping

There is absolutely no shame in thrift shopping to achieve your financial goal. It’s not news that you can get quality ‘second-hand’ products anywhere in Nigeria (be careful when shopping especially for appliances).

You’d be surprised how much you’d save when you try thrift shopping. Shop wisely.


Write Down Your Every Expense

Not everyone might find this easy, but nothing good ever comes easy. Writing down your every expense daily leaves you naked enough to see your faults in spending lavishly. Not only do you have to answer to yourself, you consciously become more aware of how you spend even to the smallest penny.

This is exceptionally great for lavish spenders, you’d be so ashamed when you find out all you bought in a day.


Implementing The 30 Day Rule

The 30-day rule in savings says that you must wait for 30 days before any purchase. If you still need it after 30 days then you should buy it. What this rule helps you with, is that it saves you from buying things on impulse. Eventually before 30 days elapses you’ve probably forgotten why you needed to make the purchase in the first.

This always works, especially if you are bad at saving.


Set Up Automatic Transfers

At least 10% of your earning belongs to you to save. However since we all have different goals when it comes to savings (ensure these goals are realistic), you are free to increase this percentage. To help make this easy, go to your bank and set up an automatic transfer to your savings account. That way immediately your salary is paid or a customer from your side business sends you money the bank automatically transfers a particular amount to your savings.

For this to really be effective, ensure you don’t have a mobile app for your savings account, no ATM cards or any other way to transfer money from it. This keeps you disciplined enough to let go of the urge to want to steal from it.