Minimize The Amount Of Money You Spend For A Happier Future

May 5, 2021 | Lifestyle

If you are an accountant or you have ever looked into Universal Accounting, you will know that there is a large amount of logic behind saving money and some of this can be adapted easily into everyday life. 

One of our biggest problems is the inability to reject gratifications. Many times we see something and immediately decide to buy it, without thinking about whether we really need it, without asking ourselves and checking, whether we can pay for it in our financial situation. This is why many times we get into debt, minus in the bank or at best, a situation where we are financially stressed and forced to give up other things. The thirty day method is designed to help us save money, through smart and safe shopping, all while we avoid spending money on things, which is very possible and we want them now, but tomorrow will already seem unnecessary to us. The idea in this method is to take the element of time and use it in a practical, efficient way for our needs.

1.  How does the 30-day savings method actually work?

Creating a budget is key but so is savings! Suppose we see a particular product winking at us, a garment, shoes, gadget or anything else. This of course refers to products that are a luxury, not food items for example, products that we did not necessarily plan to buy but came across by chance in a store or anywhere else. Instead of buying the product on the spot, we write down all its details, what this product is, how much it costs, where to buy it and more. We keep the document (which will probably accumulate in time more products that we did not hurry to buy and waited with it), and after thirty days we will decide if we still want to buy the product. If not, the money earmarked for that will go to savings. In this way, we avoid buying products that we do not need, we also allow ourselves to save quite a bit of money, and thus we actually manage to produce proper economic conduct.

2.  Why does it work?

There are several explanations for why this method can work. First, many times there is the matter of perspective. What seems special, important, necessary to us today, a month later could seem less appealing and less important to us. In this way, a great many irrelevant purchases are avoided. Second, there is a matter of work here, both on the rejection of gratifications but also on the emotion. If the money is already in the savings plan, we don’t want to then spend it on a meaningless product – because saving up money and seeing it there feels good. Thirdly, the month that we are waiting for the purchase, allows us to learn more about the product and moreover, compare prices and learn where we can purchase the product in the most affordable way. Four, following on from the previous point, we can always look for other alternatives, whether it means a cheaper product, a simpler product, a purchase through cheap websites and more.

best,

– a contributed post

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