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Youth Village Kenya > Blog > Business > 10 Tips To Control Your Expenses And Generate More Savings
Business

10 Tips To Control Your Expenses And Generate More Savings

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Last updated: 2018/09/12 at 8:43 PM
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Many people do not have healthy finances, because they are always worried, because they do not know how to manage their money and believe that it is impossible to save because they have many expenses.

Contents
1.Take advantage of the competitionUse a listMinimize your transportation costsDo not get carried away by advertisingTake advantage of the discountsSchedule the extra money you receiveConstant maintenanceKeep a low level of debtLook for the best discounts

Therefore, learning to spend less and save more will definitely improve your financial life.

Below, 9 tips so you can achieve economic freedom.

1.Take advantage of the competition

Knowing and comparing the different prices that they offer you in the products and services that you want, will make you make better decisions.

  1. Use a list

The mentality of saving is not limited to the things you want, is to reduce impulse purchases.

  1. Minimize your transportation costs

Take out accounts and look for the best option to mobilize in the city.

Try to put your business meetings in places near your work or on your way home, so you avoid spending too much on mobilizing.

  1. Do not get carried away by advertising

The objective of brands is to buy constantly, that means spending more money. Therefore, always try to compare quality and price, and take into account your true tastes when making purchases.

  1. Take advantage of the discounts

If you subscribe to newspapers or magazines take advantage of the discounts offered, buy seasonal foods, make the most of the promotions. It’s a smart way to get what you want at a better price.

  1. Schedule the extra money you receive

Always check your budget and increase your percentage of savings, you will see how that will increase your financial goals.

  1. Constant maintenance

Having your belongings well cared for will save you more expenses in the future. In this way, try to make the pertinent revisions to your car, house and check your health. These small expenses will help you save in the future.

  1. Keep a low level of debt

Paying for borrowed money is the most expensive thing to do. Therefore, always try to get the best interest rate and borrow as little as you can.

  1. Look for the best discounts

Buying the latest models or collections is irresistible, but very expensive. You must buy clothes and accessories out of season or when they are in promotions, so you will save and spend less.

 

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Editor September 12, 2018 September 13, 2018
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