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Published On: Thu, Oct 1st, 2015

How to become a millionaire by not buying things

Everyone is looking for the quick fi on how to save their money and stretch their bucks that little bit further. There are quirky schemes you can sign up to, down to support groups on how to handle your finances and say no to buying! Some people believe they have it all figured out while others look at them in disbelief… how can they go through life missing out and being so stingy with their money?

photo/ Public domain pictures via Pixabay

photo/ Public domain pictures via Pixabay

If you’re looking to save money, there are so many ways you can do it. You can start by creating a monthly budget. In order to do that be very honest with yourself about your monthly income and expenditure. Don’t forget to write down those little things like having your haircut, or filling the car with gas. Once you know what you’re bringing in, and what you’re spending each month, it’s time to look at what are your essential expenses and which ones fall into the category of luxury.

Most people who are hoping to save money today and are taking a good hard look at their finances are noticing that a lot of their expenses are falling into the luxury category and in most cases that can do without those items. Which is why financial experts today are encouraging those of us who are trying to sock away cash for a rainy day, to cut down on buying things.

Our world today is completely materialistic, which doesn’t help when you’re trying to save money. From getting a new set of wheels, to having the sexiest black number, you name it and you gotta buy it. Far too often we are left looking at what our neighbors and friends are buying, which drives us even more to keep up with them and make unnecessary purchases. Far too often we land up buying things on impulse , perhaps using it once or twice and then letting it collect dust in the back of the cupboard.

If you want to save money and I mean a lot of money, not just a few bucks here and there, then it’s time to stop buying things. Just that sentence may sound completely absurd to you, but when you become aware of your spending and materialism, you start to realize just how much of your hard earned cash is spent on gadgets and clothes, that are already in abundance in your home.

It’s time to get back to basics. Get creative with your wardrobe. Instead of buying another set of beautiful wine glasses, stick to the 2 dozen you have already. Obviously you need to still buy your groceries and toiletries, but these are essentials. It’s time to be aware of what we really need to get by with and enjoy life. The only thing an abundance of “stuff” will do for us, is make a bigger hole in our wallets. When you get what is essential and cut out the fluff and diamonds, you start to save money.

Guest Author: Anwar Hossain

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