REQUIRED SAVING TIPS IN AN UNCONTROLLED ECONOMY

in hive-136677 •  2 months ago 

Hello Friends, It's nice to be sharing this article with us here which is on the required saving tips in an uncontrolled economy. Hope we relax and read through as I refresh our minds on these very brief and concise tips.
The present economical situation around us is such that we may not have full control over but one thing is certain about the measures put in place or our actions relative to maintaining a decent and proactive economy. These are some of the tips;

image.png

  • Keeping track of Expenditures: This concept helps to fine-tune where your expenses are major and when this is ascertained, there are possibilities of making amends to re-strategize in lower spending measures.

  • Spend on Needs and not Wants: This brings us to the scale of preference. Human wants are insatiable and hence there is a need to prioritize our needs according to importance at every given time.

  • Limit or Avoid Payment of Bills via Credits: In the advanced countries this may be seen as advance payments given to citizens who are active in jobs so as to repay at the end of a working period. This may look easy when in use but the weight of its effect comes on the payment day. We should try to limit or avoid the use of advancing payments so as to help articulate our saving culture.

  • Regular Saving Schemes: This should be an act that should be imbibed by all users so as to improve the confidence and ability to resolve spending-related issues. This can be perfected through daily, weekly, or monthly savings schemes.

  • Be Cautions while Spending during Festive/Vacation: This is usually a period where we experience huge spending and sometimes unregulated. We just have to make a conscious effort to plan for periods like this to limit spending frivolously.

  • Prune down on your Services: This can be reviewed on all sundry related activities within the user's personal life which include laundry services, cable services/charges, telecommunication services, Energy consumption services, etc.

  • Others include, cutting down on some of our reckless lifestyle living, Online bill payments, etc.

Thank you, my people. I hope it was worth your time.

Written by @xkool24

Notable mentions
@whitestallion
@bright-obias

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!