Hold On To Your Money!

Sometimes you have to hold on to your money for dear life.

I know the popular wisdom here is to focus on increasing your income.

But sometimes, you just have to make sure you don’t spend money on things you don’t actually need for survival.

Here are my simple, tried and tested simple strategies for holding on to your money:

Track Your Expenses

Track your expenses for at least 1-2 months.

Get to know your spending habits.

Get to know the cost of your lifestyle.

Use an expense tracking app (or anything else that works, for what matters).

Once you track the cost of your lifestyle, you know how much is enough.

Getting to know the essential cost of your survival needs is, well… essential.

Cut Down Your Expenses

Because you’ve been diligently tracking your expenses, you can now identify what is essential to the survival needs.

Not everything is essential.

And you can now point it out.

Maybe a cable TV subscription is not essential for you.

Maybe an expensive telephony plan is not essential as well.

You get to pick and choose.

Budget Your Expenses

Even if you don’t respect the budget strictly, knowing how much you can spend helps you a lot.

It helps you with your inner boundaries.

Plan the following week or month ahead.

You can leave a bit of room but knowing what you’ll spend your money on gives you more control over your life.

Eat Home-Cooked Meals

Cook your meals. It’s healthier and costs less than eating out.

Stay Indoors

Did you notice every time you go outside, you spend money?

When you stay indoors for multiple days at a time, your expenses go down for a while.

Stay indoors as much as you can to save money!

Keep Your Pride In Check

Especially if you’re used to spending more money than is necessary.

It’s uncomfortable to scale down.

But it’s not impossible.

Buy Time

The mentality shift here is to create time and space for what you really want to do with your time.

Perhaps you want to buy time to:

  • Write
  • Record Voiceovers
  • Work On Your Personal Development

And to give your attention to what’s essential for you.

Just make sure you’re not left with too much month at the end of your money.

Good luck!

Leave a Reply

Your email address will not be published. Required fields are marked *