#1
Even if you don’t make additional impulse buys at each store… who the f**k wants to waste that much time, energy, gas and mental bandwidth on groceries?
It was like a weird obsession and was exhausting just hearing about. Like… pick a f*****g store and be done with it. Change it weekly if you want to. But ffs, going to 5 different stores to meal plan is bonkers.
#2
#3
The golden rule of personal finance is to earn more than you spend and to spend less than you earn. No matter the size of your bank account, investment portfolio, zip code, or what tax bracket you’re in, if you spend more money than you bring in, eventually, you’ll run out of funds and you’ll take on debt.
So, you need to make sure that you’re being smart with both your income and savings, as well as your spending.
Broadly speaking, you have two main strategies available to you. The first is to spend less by cutting back on things that aren’t essential, like services or memberships you don’t really use or dining out instead of cooking at home.
The second is to earn more, by asking for a raise, getting promoted, applying to work at a better company, upskilling, taking on a side hustle or second job, etc.
#4
#5
#6
Were you going to buy it at full price?
No? Then it's not savings, it's an expenditure.
Among some of the main ways to save more money, HSBC recommends:
- Planning a budget;
- Reducing your grocery spending at the supermarket and looking for discounts;
- Cutting fuel costs;
- Canceling unnecessary subscriptions;
- Reviewing your debt;
- Looking into tax relief and benefits that you may be entitled to.
#7
#8
Meanwhile, Barclays suggests challenging yourself to spend more. For example, you could aim to save more money over the next year by saving one cent on the first day, two cents on the third day, etc.
Or you could try a ‘no spend’ weekend once a month where you focus on free activities. For instance, you could go to museums, do movie nights, play board games, and go on long walks instead of paying for entertainment. Meanwhile, instead of dining out or buying more groceries, you could use up all the leftover food left at home from the week.
#10
Let me elaborate.... Actually, let Terry Pratchett elaborate:
"The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet".
#11
#12
Sure it's cheaper today, and it'll probably all be fine tomorrow, but sooner or later its gonna bite ya.
What are your best savings tips that genuinely work, dear Pandas? On the flip side, what are some pieces of financial advice that you’ve heard that are beyond delulu and can actually be bad for someone’s budget?
We genuinely can’t wait to hear your thoughts on this. If you have a spare moment, feel free to share your tips and hacks in the comments at the bottom of this post.
#15
#16
#17
I read something like “Something at 30% off seems like a good deal until you realise you were convinced to spend 70% more than you normally planned”
Small thing but it made me more aware of my spending habits and Jfc how much fomo engineering there is.
#18
#19
#20
