How much do you make a month? Don’t tell me, I’m not actually interested in the number. Instead, answer yourself, how much of that money is saved up for your bright future?

We all promise ourselves to tighten our belts and go to that dream trip, open a business, get an education or, who knows, fulfill a childhood dream of owning an Aston Martin DB5. But how often do you leave you promises behind because saving up didn’t seem effective. You see, spending money wisely sometimes can be more valuable than knowing how to make a great deal of it.

1. Planning

Planning is our everything. It is necessary in every aspect of our lives and something that should never be underestimated. Some unreasonable people might convince you otherwise, saying stuff like “Where is the excitement in that?!”. Don’t listen to them. A lot of s*** in your life won’t go according to plan and surprises will make a regular appearance. As long as you’re able to apply your imagination in any difficulties, you’ll be fine. Knowing what you should do next will come handy in any situation.

First of all, make a list of essential spendings. It should include things that you simply can’t live without (food, housing costs, education etc). Put that money aside. This is where the fun part begins. Divide the remaining money into two parts. One of them will go to your pocket, the other will increase your capital.
2. Make wise purchases

When we’ve got a bit of cash in our hands, we can’t resist the desire to spend it on something useless nice. What I’m asking you (and myself) here is to be more responsible with shopping. Those spontaneous purchases are like leaches on our wallet. If you keep track of your spendings you’ll see how much they drag you down. Before buying anything (no matter how cheap it is) ask yourself: “Is it worth those working hours I’ll never get back?”

3. Make sure your savings are out of reach

If you’re anything like me, at some point of your life  you have taken some money from your capital and spent it on something. DON’T DO THAT. Once you’ve touched that money, you won’t be able to stop. Open another bank account, invest it in something, do anything to keep your hands off the budget until you’ll really need it.

4. Don’t be cheap

When it comes to saving up, you need to be smart. But buying the cheapest product on the shelf won’t get you anywhere, because, usually, cheap means low quality. So don’t waste your time and money, and use your head. Do a bit of a research in order to find the optimal balance of price and quality. And whatever you do, don’t be greedy when it comes to your health. Your well-being is the most precious thing, so be responsible and make priorities.

In my opinion, money isn’t the most important thing in our lives. But it is one of the most important tools that can shape our lives for better. Knowing how to handle it properly can make us more responsible. Make sure you’ll get the most by spending the least.

I think this is it. Share your tips on how to be more responsible with financial matters. I really need them.

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