Money is a scarce commodity, it is very important we spend these limited resources wisely. In practical terms, we need to carefully access our spending and evaluate how much value our money returns to us – when we buy, invest and even save.
There must be some level of fulfillment when doing away with cash. The most common place to spend our cash is while shopping either the traditional way or perhaps online.
The old adage of ‘don’t buy everything you want’ still stands. Sellers will always offer you the most exciting and tempting offers especially during weekends, Yuletide etc.
If you prepare you mind for this, it will go a long way in helping you make the right decisions once you walk into that store. Most times, all the exciting offers are only aimed at tricking you to reach for that wallet – You can’t really begrudge the sellers either that’s why they are in existence. Hence, before you
reach for that wallet in your pocket, pause and think. Do you really need it? There is no gain buying something you have its equivalent back at home.
Also, don’t be easily cajoled by new products especially if they are from the same producer. More Financing a debt adds little or no value to your money. So, before you can get the best value from your cash you must do away with all kinds of debt especially the ones with excess interest often than not, there is really nothing ‘new’ about that new product.
Often times it just the packaging that differs. The common rule of bulk buying should always be adhered to. Most shops would only consider giving you a discount (one good way of getting value for your money) when you buy in large quantity. So, rather than buy in units you can go for a bulk. Experts say one of the biggest differences between the wealthy and the not-so-wealthy is that the wealthy people earn interest and everyone else pays interest.
It is important to realise that money is a tool that can help you to achieve your
goals. In order for you to reach true financial independence you need to have your money begin to work for you – not you for it. A good example of this is saving where you money attracts returns. It must not be in a bank, it could be
in a cooperative society, investment firms that pay attractive interest rates. So rather than have you money just idle you could invest and reap returns.
Remember, while saving is simply accumulating money in a safe place so it’s readily available when you need it, investing puts your money to work. Financing a debt adds little or no value to your money. So, before you can
get the best value from your cash you must do away with all kinds of debt especially the ones with excess interest.
Finally, while employing these principles to get all the value you desire from your money do not deny yourself from the necessary leisure because they add their own value to ones being after all.
