All of us earn money but how many of us know how to make it last? In the haste of quenching our desires, we often end up spending more than what is needed. But if you want to make your money last, you’ve got to stop doing it the wrong way.
Here’s a list of four rules to make your money last longer!
1. Quench your desires
We all love buying what we desire but limiting our wants is extremely important. Imagine where you’d be if you kept fulfilling all your desires every day? That’s exactly what this is about.
Instead of buying what you desire, pick the items that you REALLY need. This will also prevent you from buying things in excess and save lump sum money.
2. Repay your loans quickly
Many of us tend to delay paying our loans by convincing ourselves that we can do it later. But are we really helping ourselves when we do this? Of course not!
The more you take loans and fail to repay them, the more it keeps piling up. As a result, it will lead you into a terrible problem where it will be hard to repay any of them. So, its always better to repay the loans as soon as you have enough money for it.
3. Say ‘No’ to addictions
If you are addicted to alcohol or drugs, you might be wanting to spend more money on them. Obviously, this is a waste of money. Say ‘Goodbye’ to all your addictions if you want to make your money last.
4. Don’t spend more than you earn
So many of us have a tendency of spending more than we earn. This compels us to take loans and dive into financial problems easily. Make sure you map out a certain amount of salary every month which you can use only for investments on your favourite items. You can keep the rest for your savings.
Money can be a great motivator and an unbelievable distraction, both at the same time. It on you whether you let the later overpower you or wisely chose the former!