7 and a half ‘Golden’ Financial Tips to Save Smart and More

Who wants to become a millionaire? Better question - who doesn't? Well, our 'golden' financial rules may not make you one, but they will definitely help you save a couple of hundred or even thousands of dollars. Moreover, these simple actions do not require austerity, they are simple and easy to implement.

Tip 1. Get into the habit of keeping track of income and expenses. You can keep records in a notebook or electronic format. Just write down every spend and income and analyze it at the end of the month. If you've spent too much, don't beat yourself up and find ways to keep costs down. If you managed to save money, please yourself with ice cream or a cinema ticket.

Tip 2. Stop borrowing money. If you already have loans, try to pay them off as quickly as possible. Thus, you will be able not only to save a lot of common sense not to think about the loans but also to save up to 30% of the budget that you would have spent on paying off the interest for a new smartphone.

Tip 3. Give up impulsive purchases and unnecessary spending. I know it's easier said than done, but it will help you not only save money but to save it for something meaningful. Several effective ways to get rid of the impulsive desire to buy:

- Make a shopping list before going to the store and stick to it.

- Ask to postpone the goods for you. So you will enjoy the anticipation and perhaps become indifferent to the good you were going to buy. 

- Eat chocolate. It will help develop serotonin and glucose in your brain, so the need to purchase will disappear.

- Take the time to research your future purchase online, focusing on flaws and bad reviews.

- Measure the cost of a purchase in hours of your life - how long you have to work to get the needed amount for this good. Are you ready to give up an hour of your life for a cup of coffee? And two months of life for a new smartphone?

Tip 4. Give up bad financial habits such as dinner in a restaurant or coffee in a coffee shop. Prepare your own dinner and purchase a reusable mug to use for your made-at-home coffee. But it's a waste, you might say! Well, consider this purchase not as a waste, but as an investment in future savings.

Tip 5. Decide how much of your income you can save (10-30% is optimal) and pay yourself first. What does it mean? As soon as you receive a salary, save it. Do not wait until the end of the month in the hope to save what is to last. As practice shows, nothing is left.

Tip 6. Decide what you want to save money for. New phone, laptop, or even a house. It doesn't matter the amount and size of your financial dream or goal. It must motivate you not to spend money but to keep it.

Tip 7. Always count your money, even if it is small. Small daily expenses can add up to huge sums in a year or two. Every time you tell yourself: '$10 is not money, it’s not a pity to waste,' you are taking away from yourself tens and hundreds of thousands, which would this $10 turn into, if you did not spend it 10, 20, or 50 times.

The final piece of advice, which I will not include in the general list since it is the most valuable (and I like the 7 number) - realize that your financial well-being depends entirely on you and your actions. 

With these simple but extremely useful tips, you can not only save more money but also have more enjoyment out of your financial awareness than out of third pairs of new boots.