People nowadays always judge others by their wealth. It is commonly known that money has become a very important factor and those who are rich are being respected. However, has anyone ever thought of the fact that we are becoming slaves of money? Nowadays, we always hear about the post-graduate students going into heavy debts because they over-spend unnecessarily and purchase things on impulse. In other words, they are irrational spenders.
Can we be a wise spender, someone who spends sensibly and wisely? Here are three tips for you.
Firstly, we should think before buying instead of buying on impulse. Make sure the purchase is something you need. I used to buy without second thought and soon felt regret. When I was tidying up my apartment, I found many useless things which I had never used. And I just threw them away as they occupied a lot of space. This is a waste of limited resources on earth, and at the same time a total waste of our money. So we should think before we buy.
In addition, we need to set a budget before shopping. Some people love to shop with their credit cards without thinking of the consequences. We should just bring enough cash and leave our credit cards at home. Save them for other expenses. Credit cards may sometimes become an inducer tempting us to purchase things that are not needed. Sometimes, I really stop to shop when I go out as I have lots of cash in my wallet. Bringing less money and setting a budget, we are more likely to think carefully before we buy.
Furthermore, we should do some research before buying. Chances are that you find something in a store and purchase it right the way, and end up finding a cheaper one elsewhere. I always do research before buying. For example, I would go to different shops to compare the price and quality before buying clothes. In this way, at the end of the day, I do not need to regret paying more.
There is a misconception that the smartest way in spending is to buy the sale items only. However, sale items are never equal to items we need, and may at times unnecessarily cheap. There have been millions of cases that people buy numerous items back home because they are on sale and ultimately the items were dumped at home somewhere untouched.
In a nutshell, you should spend your money wisely in order not to waste it unnecessarily. Next time, when you wish to make a purchase, ask yourself: Am I a ‘wise spender’? Am I burning a hole in my wallet?