How to limit your debt and save your cash

How to limit your debt and save your cash. 

It's hard for people to save with living experience quite high theses days, you may feel stressed about your financial state or feel overwhelmed when seeing the debt that you owe. So these are my tips I follow to keep myself out of debt and saving for the future. 

No 1. If you can't afford it, don't buy it. 
It's easy to get sucked into spending especially of your trying to follow the latest trends or just wanting something because you think it's cool, but my moto to follow is, if you can't afford it in cash don't buy it. If it is something you really want then save your cash until you have enough then reevaluate if you truely need it in your life or not. 

No 2. Stop using credit or finance. 
Again this is a big one, if your constantly using your credit card or things that's more debt you racking up and that's no good for you in the long run. Try to save as much as you can before you think about buying that new car or going on a vacation. I myself have never used personal loans or pay off schemes to do my travels, and as you may know from my previous travel blogs if gone on a lot of trips! But I just set myself a goal of how much I would need before even thinking about booking my next vacation that way I don't come home from my wonderful trip seeing all this money I owe on it. 

No 3. Need that car? 
If your looking to buy a new vehicle, think smart and do your research before buying any old thing or going for those high interest rate finances. Really think about if you can afford the repayment and try to get the best deal (most of the time through your trusted bank is best). Or if you can, do what I did and save early. 
I started with a crappy two grand first car but once I decided to upgrade I set my budget and by the time I was 20 years old I was able to save enough to walk into that car dealership and buy my brand new car of the shop floor with cash. It was a great feeling. 

No 4. Stop buying crap. 
Ever hear the saying quality is best? Well it is and works out cheaper in the long run. When it comes to buying items you need to use everyday I definitely believe buying the best brands is key as they last longer, rather then purchasing cheaper items that may break after not very much time at all and you may have to constantly spend money to replace them. Some of my favourite brands are ray bands for sunglasses, Calvin Klein for underwear, Chanel for perfume and vans for shoes. 
This also applies to furniture and appliances. Choosing sturdy well made items will last longer and look better. 

No 5. Grocery shop smart 
When I grocery shop for the week I try to get only the things I need and try to stray from those packet of chips that are on special. I also buy my disposable items in bulk such as toilet tissue, paper towel. Dishwashing liquid etc. This also saves a buck plus I don't have to think about buying more for a month or two.  

One of my guilty pleasure is getting take out or going out to dinner which can really add up on you bill but you can try to reduce this buy typing out meal plans for the week so there are no excuses to go buy that pizza.... 

So remember Impulse buying is very easy to do but trying to substain from this habit will work in your favour. Try to save save save as much as you can and you will feel better financially. 


  • Mummy R blog

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