How to Save Money Without Being Cheap

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Saving money is something that everyone wants to do but few want to put in the hard work to actually do. Some lack impulse control, while others get a reputation for being ‘cheap’ as they are over aggressive when it comes to saving money.

Sure, you could always make more money as there are plenty of ways to start a small business – maybe you can try selling junk cars for cash. But even if you are making more
money, your still need to be able to make sure it ends up in your bank account. With that in mind here are some tips on how to save money without being cheap.

1) Learn How to Say No
Remember the Jim Carrey movie ‘Yes Man’? Well, when it comes to saving money you want to do the opposite and say no – especially when it comes down to something you really
can’t afford. It doesn’t matter what it is. Just because you have room on your credit cards to take a three-week Mediterranean cruise doesn’t mean that you should as you’ll have to pay it back later. Instead, focus on simple pleasures, small treats that you can easily get without needing to break the bank. How can you say no? It starts by clamping down on impulse purchases and this really means keeping your credit cards at home. When in doubt, do without!

2) Don’t be Preachy When You Are Around Your Friends
When it comes to saving money, friends can either be your best help or they can work against you. One way to make sure they help support you in your quest is to not be
preachy. Sure, you’ve decided that saving money for you, but do your friends really want to hear about your exploits on couponing? (Some do, but not all!) In fact, one of the best ways to turn your friends on to saving money is silently is by sharing a two for one deal at a local restaurant or spa with them!

3) Spend Your Money on Important Things That Will Last

Just because you are saving money doesn’t mean that you will never spend another dime again. But what you want to do is make sure you spend your money on the important things – i.e. food, housing, clothing, education, healthcare, and retirement. Another thing to keep in mind when you are spending your money is that you want to buy
things that will stand the test of time. Sure, better-made goods might cost more, but would you rather buy a $200 pair of shoes that will last 20 years or a $50 pair of shoes every year? Do the math and you’ll find the answer.

4) Let Go of FOMO
FOMO – Fear of Missing Out. This is a common human emotion but just because you might feel it doesn’t mean you need to act on it. Remember what your mother use to say about
jumping off a bridge because everyone else was doing it. As such, learn to let go of FOMO and instead focus on doing what is right for you.

5) Don’t be Penny Wise and Pound Foolish
You’re trying to save money and this means watching what you spend. However, you don’t want to take this to the extreme as there are times when saving a bit of money upfront can cost you more in the long run.

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