How to use your money wisely

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oney is the remote control in every movement of people here on Earth. Without money,we have nothing and we can’t do whatever we want. Money is the center of people’s desire and needs. It can make the world go round.

There are some people who are given opportunities to have a carefree life because of money. They have luxurious life right? There are also some people who are in a one scratch, one peck.( Isang kahig, isang tuka) kind of living. They work a lot for them to have food to eat. But if we know how to the money can live a life we desire for. There are some people who have big income but they don’t know how to manage it still, it’s useless. It doesn’t matter if you have big salaries or income, what matters the most is that you are literate enough in managing your money. In this blog we will show you realization and ways on how you use your money wisely,for you to have knowledge to enhance your capacity in terms of financial literacy.

How to use your money

Good deals and extending money is an important aspects of accumulating wealth, deciding the right things to buy and avoid spending altogether is very bit as crusial because spending money and saving money go hand and hand, the ability to allocate your funds wisely coupled with a proper savings plan will exponentially increase your pool of wealth. So how does saving money differ from spending money wisely? Saving money is the act of finding the least expensive method of making a purchase that has already been planned. While spending wisely pertains to the decision making process that goes along with making a purchase.

How to know your purpose in spending money.?

Why do we make purchases? Most of the time we buy things because they are either aesthetically pleasing or they make our life easier in some way. Whenever I want to make a purchase, I always ask myself the following questions.

• Will this object make my life easier?

• Will this object provide me with lasting pleasure?

• Is this item filling a void in my life?

I’d say that 95% of the time, the answer is not to at least 2 of the 3 questions. If you find yourself answering yes to all 3 questions on a regular basis, you should sit down, rethink your priorities and raise the bar.

Stick with products that have a variety of uses rather than a single specific purpose. Spending wisely starts with looking deep into your life and figuring out what will bring you lasting happiness.

Finding out what you truly value can be an interactive process. Sometimes, you might feel like you absolutely need something only to lose interest shortly after the purchase.

In any case, the takeaway here is that you need to understand your tendencies and try to avoid temptation when you can. You are just asking for trouble if you go shopping without an objective.

We are all human and we all sometimes get carried away with our purchases. The key to spending wisely is to cut out as much temptation as you can and evaluate what is truly important to you. Be prepared, because the process of discovering yourself will take some will power and you may well end up with some dusty old exercise equipment in the garage. But overtime, you’ll eventually learn to stay on track.