Bemjo is constantly mistaken for a boy because of her…
“This year, I promise to save more money.”
Now, that’s a line we always tell ourselves every New Year. But don’t you think it sounds a little too vague? When setting goals, it’s best to keep them specific and achievable, so we’ve prepared some easy goals you can stick to this 2016. Here are five easy ways to save money this year:
1. Monitor your income and expenses using an app.
Gone are the days of listing purchases down on paper. Since our phones have practically become our BFFs, it makes more sense to keep our records there. Check out free apps like Money Lover or Monefy.
Plus, apps can give you automatic computations or budget breakdowns. Just make sure to back up the data on your app regularly (I unfortunately learned this lesson the hard way after I accidentally deleted my records).
2. Set up automatic fund transfers between your payroll account and your savings account.
This is possible with most banks, and you can set it up with their staff over the counter or through their online banking website or app. This leaves you no room to hesitate. Your future self will thank you.
3. Follow the 30-day rule.
Drooling over those gorgeous red pumps at the mall? Control those impulse buying tendencies using this tip.
Go home, write down the item on a piece of paper, put it somewhere you can see, and wait for 30 days. In those 30 days, you can either try to forget about that product that you’re lusting after, or fantasize about it every single day. But once the 30 days are up, ask yourself–do you still want to buy it? Most of the time, your answer will actually be a no.
4. When shopping, make a list and stick to it!
It’s easier to get sidetracked into buying shiny new things when you don’t list down what you actually came there for in the first place.
Bonus tip: don’t go shopping when hungry. It makes everything look ten times more appealing.
5. Create different accounts for different goals or purposes.
Name your accounts after the things you’re saving for, and set a target amount that you want to reach for each. New laptop, trip to Seoul, house and lot–whatever it is, being reminded of the things you’re saving up for will keep you motivated.
Featured Image via Pexels
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Bemjo is constantly mistaken for a boy because of her name, but she is most definitely a girl. She enjoys coloring, being around dogs, and binge-watching TV shows. She currently works as a material developer for an ESL company.