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Starting Again: Changing Your Attitude To Saving Money
Growing your savings can seem like an insurmountable task. Ultimately, we all know what we need to do when it comes to looking after our money but instilling good habits is easier said than done. So what is the key?
Arguably, we need to change our attitude towards money. And when we need to start again in a financial sense, how can we do this?
Look At Every Penny
Being frugal can seem like a negative behavior but when you need to save money you’ve got to find out the best approaches to budgeting for you.
If you get into the habit of looking at where every penny goes, you will have a far better understanding of where you need to save. But also you can find better practices that suit your life. For example, if you have a considerable amount of money going on your car each month, you can find approaches to save those pennies in other areas. If you spend a specific amount of money on fuel you can drive with better habits.
But you can also look at other approaches that will save you money in the long term. A cheaper insurance policy is a Trojan horse; it may be cheaper on the surface but there are always hidden costs. This is where you need to find the right policy for you. If you look at MoneyUnder30’s Metromile review, which is a policy based on the number of miles you drive, you can take advantage of the right policy but also take advantage of the right habits.
But you can only start to address your habits when you look at every penny you spend.
Stop Comparing Yourself To Other People
Everybody has their own financial problems. And when we judge people based on the vehicle they have in the driveway or the amount of vacations they take every year this can make us resent them, but also force us into unhealthy financial habits. When you stop keeping up with the Joneses and focus on yourself, you will have a far better attitude when it comes to saving money but also spending it.
We have well worn psychological spending habits instilled in us from when we were younger, based on what we saw other people do with money, such as our parents. And if we are to make any progression, we have to look at our own finances and nobody else’s. It’s not an easy thing to get over, but once you start to look at what you need, you will see the light.
Budget For Happiness, Not Financial Freedom
Most people think that financial freedom equates to happiness. But if you start to focus on being happy more than anything else, you may notice a big difference. While the word “budget” can make people shudder because it implies restrictions, if you start to focus on what will make you happy, whether this is escaping debt or going on vacation and you start to put money towards it through techniques like the 50/30/20 rule, you will be going in the right direction.
Another way to budget and save money without really thinking too much about it is to assess where you get your energy from. Using places like Direct Energy you can shop, compare and choose the best energy plans for you meaning you can save your outgoings very easily. Why pay more when you don’t have to? It takes no time at all and you can see what rates and plans are available for cheap energy rates.
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