9 things I stopped buying to save money

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Many of us still try to save money in some way or other on a daily basis and compromise on some things, but we can’t do that.

Have you ever pondered this?

If so, then this blog is for you.

save money

How Can You Save Money?

If for whatever reason we want to save money, what we do is, we start cutting our costs. To be precise, this is the easiest way to save money.

Yet how do you slash expenses?

If I state that, because it was too expensive, I avoided spending my medical premium fee? This can make me spend more in the future.

That’s why, I listed nine things that could save your money.

#1 Stop buying to impress:

We waste a lot of hard-earned money on things we simply don’t need. I would tell we’re over-budgeting just to please people who don’t care for us. So STOP, just ask yourself a question before buying something next time. Do you need it, really?


#2 Stop eating outside:

We all know this but we are still unable to contain ourselves and waste a lot of money on street food and restaurants. Please stop eating outside as much as possible because it will only save your money but also save your health. As the saying goes “Health is Wealth.”


#3 Stop buying expensive cell phones:

This is where we will save a lot of money. The key thing is that cell phones depreciate their value.

Try to understand, if you buy a $1000 mobile phone, it will depreciate its price as time goes by and you won’t even get a decent resale value. Buy as you need it to. You could save some money.


#4 Stop unnecessary parties:

Party is something everyone loves, but the truth is, it’s just an unnecessary expense. We spend a lot of money on parties, maybe a birthday party or catch up with friends or wherever. So try to save money on parties.


#5 Stop smoking and consuming alcohol:

Compared to any other, this may be the most difficult thing to do, because smoking and alcohol intake are kind of addiction and you need a very strong will power to avoid these.

If you’re a chronic smoker or alcoholic you can measure how much money you’re spending on these all year round.

Quitting alcohol and smoking will not only save money, but also save your health from deteriorating.


#6 Stop buying from official branded stores:

We all visit official branded showrooms to buy clothes or boots, or something.

What we could do is, check out the same clothes or footwear on Amazon. You’d get the same brand, the same commodity for a maximum number of times on a discounted price.

These discounts could save you money.


#7 Stop buying luxury stuffs:

Obviously luxury goods are high priced and a high amount of maintenance is also expected. 

Save your money here, Look for needs, not luxury.


#8 Stop buying stuffs on loan:

Loans are like chewing gums, when you start taking loans it tastes sweet but later loses its flavor.

One day after years, you realize you can’t save any amount now because you’ve got to pay the bank huge money.

Avoid loans unless it’s necessary. Never take loans to buy luxury stuff.


#9 Stop buying liabilities:

This is the most significant thing, “Stop Purchasing Liabilities.”

Robert Kiyosaki, author of the book Rich Dad Poor Dad says, “Rich people buy assets, Poor people buy liabilities thinking that they are assets”. (You Can Buy The Book From The Above Link, its best book ever written on Money, it tells what rich people teach their children that poor people don’t)

Things that get money into your hands are assets and liabilities are those things that take money out of your hands.

For example- if you think your car is your asset, you’re wrong because your car doesn’t produce money for you. It is a liability.

Focus on asset acquisitions and not liabilities.


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Note

Above are the 9 different items you can stop buying, so you’ll save your hard-earned money.

Some of us know why they save money but If you don’t know, I will tell you in my next blog, Top 5 best investments for best returns.


To read my previous blog, click here

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