In case your account is overdrawn or you are just looking for ways to save money this 2020, here are 6 money-saving tips to consider.

Have a Budget List

To save money, the first thing to do is to create a good budget list. Note how much you earn monthly, and allocate proportions to your primary and secondary needs, but don’t forget to dedicate an amount to miscellaneous, just in case something new comes up.   

Always Go To the Market with a List of What You Need

Do not assume you know everything you need, check properly for what you need and create a priority shopping list. Going to the market without a shopping list will make you buy things you like rather than what you need, thus making you spend more than you should. To save money, you should always go to the market with a shopping list. That way, you will give priority to the items you need only.

Buy Wholesale to Save Money

There is always a discount that comes with buying things wholesale unlike when buying in units. To save cost, you should get your items in packs rather in single units which may seem more expensive. 

Save More Than You Spend; Spend Less Than You Earn

To save money, you should note how frequently you spend and try to cut down on your spending. Normally, you should be able to save 1/3 of your total earnings as part of your long term saving goals. However, this can only be possible when you learn to manage your spending. That is, save more than you spend, and spend less than you earn. Read also how financial plan can help you

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Buy Your Items in Business Clusters to Save Cost

Business owners in business cluster areas are known to always be in constant competition for customers and clients, and as a result, goods sold in business cluster areas are always cheaper compared to those sold individually.

Haggle for Cheap Price Before Payment

Haggling for a cheap price does not make you uncivil, you simply want a good bargain. More so, to save money, you should haggle for the best prices and make your purchase from dealers offering the best deals.

Do you consider these 6 money-saving tips for2020 helpful? Then drop a comment in the comment section box below.

Chima Rachael J.

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