How to Spend Less
I am writing a lot about money (mainly spending less and earning a lot) lately and is not bad. I am learning and thus sharing with you all. As you all know we all work to earn money and we all spend money on necessity, leisure, and luxury and also invest or save for the future.
But the problem arises when we spend more money than we think and thus have fewer savings or even no savings. When we have fewer savings, we will have less freedom in life, we have to stick in our boring or toxic job to pay the bills and cannot do on our own if we want. If we want to save more money we have to spend less. Thus the question arises, how to spend less.
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Just thinking about spending less doesn't work. You cannot become lean just by thinking that you will eat less. One heck of eating less is to eat in small plates, you will feel full even if you eat less. Thus the same principle can be applied to spending less money.
What we all know the savings, total income minus the expenses. But the problem is expenses are not limited and we usually spend money from savings and then we end up spending all, and thus we don't have anything to save. There are expenses from our Credit Card, EMIs etc. There might be your "will power" or "discipline" to save more money, but it doesn't work and thus you spend money for something or the other.
So to spend less we can have the method of the small plate that means, we must save money first and then whatever is left can be used for expenses. If you earn $1000 and plans to save 20% of your income then take $200 out of it and thus you have $800 available to do your expenses. This has o be done as soon as you get your paycheck. Thus you have a smaller plate and you will end up spending less. Trust me this is the best way to spend less because you have less money for your expenses and you will always find a way to manage from that expense.
Savings first and then the expense, you can build a fortune in some years, and thus you will have freedom to come out of the toxic or boring job to start something on your own.
Is there any other way to spend less, do let me know.