Best Money Saving Tips
Struggling to save money? Well let’s learn from the best. There is no one better to teach money saving tricks than the legend himself. Warren Buffett is one of the greatest investing and business minds today and he started when he was just 12 years old. He is the man who not only has countless money, he has countless ideas to make more and save more.
Buffett’s insights on money saving tricks are helpful in many unexpected ways. He aims towards changing the perception of people towards money. He teaches great lessons in smallest of quotes and today Sheneeds is bringing to you the same tips which he swears by. The best money saving tricks from Warren Buffett’s diary.
Never lose Any Money
This is Warren Buffett’s most important mantra. He says that one should never loose money because it’s very hard to gain it back, once it’s lost. Losing coins also counts as losing money. He vouches the power of small savings and believes that little chage can make a huge difference.
Get High Value At A Low Price
“Price is what you pay; value is what you get,” says Warren Buffett. Losing money can happen in many ways. When you pay a price which doesn’t match the value of the product, it is equivalent to losing money. Get inspired by Warren Buffett and practice frugality. Look into the options where you can get more value for lower price. Always buy things when they are marked down.
Inculcate the Habit of Saving In Your Children very Early
Buffett says that saving money is a habit and this habit can only be garnered perfectly if it is done at the right time. If the habit of saving is learnt in childhood, it pays off big in life. He suggests that one should look into his habits of savings and expenses. If there are any habits which are heavy on the pocket, then they need to be broken. Even if it is a dinner every week. If it costs 10% of your monthly income, then it is a big loss.
Be Far Sighted
“Someone’s sitting in the shade today because someone planted a tree a long time ago,” Buffett once said. And this can’t be more true. Planting the seeds of financial stability will lead you to a debt free, relaxed and financially secure future. A small change can go long and can reap extra ordinary results.
Start with these Best Money Saving tips:
- Small savings jar can go a long way. make sure that you add a note to it greater than the denomination of 100 everyday.
- Add a little extra on the days you celebrate any accession like birthdays, anniversaries, festivals, etc.
- If your salary gets raised, don’t raise your expenses. Save the raise.
- Whenever you shop, you get discounts. The money you save, will be your savings when you transfer the same amount to your savings bank account. Otherwise, they are just lost.
- Automate your saving. Instruct your bank to automatically deduct the savings amount from your account.
- Get a savings buddy. Make sure that you two keep up each other’s honesty.