Tracking Your Spending to reach Wealth

 The major of spending may the food, cloth, electric, the gas, and gasoline. Perhpas you have other 

most people feel tracking spending is not important to tacking my spending. the important things is making more money. I believe it because i am a simple man. I rerely eating out and use brand name any fashion so i live in very low budget.

 

Some people feel they cannot decrease thei spending because thay have decreased all theirr spending. It's imposible to reduce the spending again. Well, though it may be uselles. you can try tarcking it.

 

There si some steps in Nerd wallet. I also consider the major spending. The major spending is food and beverages. most people use debit card to withdrawn the money. Off course they can note all spending. actually it is like pieces of cake.

 

Second step of tacking spending is categorize it. 

The major of spending may the food, cloth, electric, the gas, and gasoline. Perhpas you have other 

third,  build budget 

Budget is not easy to me. Creating budget meanig therea area rule 50.30/20 The half of your money allocate to your needs. and 20% first for your saving. and 30% for wants. 

Fourth, usde budgetig apss

some budget app is good some is not. clevery use the app. I just use the traditional way using the notes. 

After budgeting, we should monitor it regullary. is the psnending beyong the budget. 

The seven step is the ways to lower your expenses. Perhasp there is a little bit spending that we can save. other ways , we can save money using the discount ? 

The last is the difficult step. i have no idea to make money today. however i should explore to make money. 

Frugal living is not good for your country?

 

One way to increase wealth is by frugal living. We have to cut some "unnecessary" spending and saving it. cutting the spending or a spending is useless when you do not save anything. you have to encouraging by save money. some cafe becomes quit. people prefer eating in home. Eating in home saves money and healthier than eating out. We can control some food that we can cook any food. we also save some dollar from it.

However, a podcast told that Japan small business decline due to frugal living style increases. The cafe become close and it is not good for some people. some people who have a cafe or some people work at there are in bad situation. the worker may get fired. I know that the consumption also increases national income. more consume, more income. in my country, there are so many people and they consume the small business food product. That can increase the other people income.

in individual, more consume, meaning you cannot save money. you decrease your wealth. off course you have to live frugal and spend only you need.

Pros and Cons buy used things

As the blogger of the finance, some wash or away to minimize our spending, , including buy used things that is cheaper than the new. As long the condition is good, you may get benefit from the used things. However, some people complain the used things make spend more money again. Because the use things is easily broken and there is k guarantee.

Do some people like to buy you sting because their cost is so low and they know that they may get more benefit but some people stay in my new thing because she is the simple and then spend more money.

Well there is a some pros and cons of buy used thing which begin with the price of the buying used things 

The price is lower than the new of course do you think even an hour ago you by and cell phone it is cheaper than the new one at the store. Tell you up there you stink is the class as long tine gone.

By buying used things become the one and you have to contribution to heart environmental some is thing in the forest of the see that make the environmental dirty.

Lower depreciation. Used things depreciation is lower because the price is low too. 

Unique Things

Of you lucky you will get things that rarely 

Cons

The quality of the used is bad. 

No or low Guarantee

In my country, a used cell phone shop just guarantee the phone for a week only. After one week, they cannot change your broken used  phone to the store. It is a risky. 

The limited choice

Some items has just one item only

Hygiene concern

I do not want to buy shoes that is ever used by people. It's so  dirty to me. i am worried the last user has skin disease. 

Saving Versus Investing

 Either Saving or investing is about money. We collect some money for the future need or want. We hope our money increase, by saving and investing. 

I read a nice article from a famous blog that explain the difference between saving and investing. I think the article is simple and easy to understand for common people. Certainly,  the people should know the English language. 

Saving is actually for short term. You can save the money for your college or your first house. as your wealth increase and you have so much money. 

The article also explain when to save or invests? it is depend or your money too. save more money when you  do not have emergency fund. You can invest after you have money. the investing also for long term such as retirement and your kid college. Perhaps you have another high paid debt next. 

read also 

What is net worth 

Top Financial Planning Tips

tips for Frugal living posters

This is my first posters that I post in this blog. i have made it from Canva. It is not difficult to create it. in this blog i give only four tips of frugal living. it is not easy to do it. you should have strong commitment for it. 

idea saving more money

I am a man who also difficult to save. I also spend my saving and finalcy i do not have much saving. i think to save more money. we can increase money by:

1. Build a deatiled budget outlining your salary and expenses. Trace the salary that you cna oncearse and reduce tha 

2. the debt can increase your expense. reduce it and allocate the money to your saving

3. limit your online shop. Buy only you need not you want. 

4. save for windfall. sometimes we get money from unexpected income such as bonus, gift, and others. 

5. Build an emergency fund. there are some unexpected income and there are some unexpected expenses too. sometimes you need money to repair your car. It is better using your emrgency fund than owe to others. 

6. Track your progress. people are happy, seeing every progress. they feel satisfied and celeb the achievement. I remember a student writes thank for herself in her thesis. 

Image by Clker-Free-Vector-Images from Pixabay

Who can save?

 I did not have little money. Today I do not have much money too but someday i will have much money. I realized that I have to cut some spending. I was living alone in my parent's house. I cooked the breakfast alone and I just buy the cheap vegetables. Rarely I ate outside. because it was so expensive.

Though I can cut so many spending but I cannot save. It is because I did not save at the beginning. I save money at the end of the month. This is mistakes that I realized.  There are so may experts suggest us to save at the beginning or pay yourself first. I did not do like that finally, I spend the remain of my money. 

saving money is my strategy to finish my goal. At the time, I also had not the goal of the financial. Today, I also consider the house. A nice house in my hometown. 

Image by Harry Strauss from Pixabay