Economically speaking, money is a big issue many people have a hard time managing. If more people begin to keep track of their spending habits they may be able to spend less and save more. Saving up money from the beginning of the year to the end of the year is hard. Usually people spend more than they actually save.
People should keep track of the money they are saving or spending. There are numerous ways for individuals to keep track of their money. Budgeting is a good way to be mindful of how much you are spending. To do so, an individual should first try and track their spending habits for a week in order to know their fixed amount. After realizing the amount set specific limitations on their money.
Some ways I suggest saving money includes eating more dishes from home as opposed to ordering take out everyday. Also, I know an abundant amount of people who buy coffee or tea on their way to school or work, making the beverage from home would allow you to save a lot of money in the long run. Another way to save money would be bringing your own snacks to school or whenever you leave the house.
It’s much simpler to always carry a snack with you to munch on when you get hungry as opposed to spending money at a vending machine or at a deli. Sharing clothes among your friends or siblings is another great way to save instead of buying a large quantity of clothes to fit the seasonal changes.
What I do is whatever leftover money I save I keep it in a safe space and add up all the money I saved at the end of the year. I believe more people should do this because every dollar adds up. Because this method works for me, I thought it would be nice to share it with everyone else in hopes they too can learn from it. Disclaimer, everyone has their own methods or ways to take part in different things. This way is just something that works for me and may be able to work for you. If you already have a really good technique and it seems to be working it is entirely up to you if you want to change it.
“I always end up spending more throughout the year. No, I never really question my spending habits because for the majority of the time, I’m buying stuff for my friends and I. So, there is no budget that I really set for myself. I don’t keep track of what I buy, usually the items I purchase or because I want them not because I need them,” said Jaya Raj a student at Thomas A. Edison High School.
“I always end up spending the money that I have saved because I know how much money is saved. Yes, for the most part I do question my spending habits. My problem is I do not set a budget for myself. Usually, when I figure this out, it’s too late,” said Owen Omozore, a student at Thomas A. Edison High School.