A Smart Way to Save Money
June 02, 2021
Saving money for many is not spontaneous.
Usually, the first thing we do is spend the money first before saving. We have credit cards to use and splurge without thinking about our future. Sometimes this plastic card can lead us to bankruptcy if we do not control our spending.
I had an experience with my credit card which until now I really regret. I was living like a one-day millionaire that I almost lost my home. I paid for my credit cards with a big sum of money which I did not imagine I spent for just several months.
My bad experience with my credit cards started when I was several months from retiring having served my company for more than 20 years. I thought that I would be able to plan ahead about my retirement and what to do with my retirement money when I received it.
My close friend suggested that we apply for credit cards so we could buy some things before we retire. She thought about it because we were not already receiving our monthly salary because we already applied for retirement. We were just waiting to finish the processing and we could get it in a lump sum first. I was convinced by my friend to apply for two credit cards so we could purchase more goodies ready for our retirement.
So we did apply for the credit cards. We also got a cash advance from the credit card. Then, we went shopping every week as if it was the last day of our lives. It was uncontrollable and nobody could stop me from using my plastic card. I was always in my wallet.
After two months, our retirement application was approved. We were ecstatic because we really wanted to take some time off from work we had for many years. I started working after my college graduation. I did not change my company, instead stayed there until I got married and the end of the line was about to come when I thought of retiring to take some rest and plan for the future.
I continued to use my credit card and my friend and I waited another month for the receipt of our lump sum retirement money. My credit card accumulated more interest monthly as I was not paying my monthly billing for two months. When I received my retirement money, I paid a whopping amount of money that I never thought that it was real.
Learn from my mistake!
I almost ended up penniless because of my uncontrollable spending with my credit card and making myself immersed in big debts. I was still thankful that I had already paid the mortgage of my house. And it is the only thing left for me.
Since then, I have learned my lesson about money. You must control spending money before it controls you. So when I have some advice about spending money, these are from Warren Buffet, I always monitor my spending and I always ask myself if the money I will spend is worth it and if it is really important. I also stopped buying designer clothes and shoes.
Now I am aging, my focus is just to buy the essentials in life like food and payment for utilities that are part of our daily living. I also donated some of my clothes to charity. Many people today need things more than money. There are still thousands of jobless individuals who are waiting for our donations in cash or in-kind if they really ask for them.
Some of the those advice from Warren Buffett that I always keep in mind are:
● Save money first before spending
● Live below your means- (this is my biggest blunder to spend more than I can afford)
● Try to earn passive income - if you can get some sidelines to do so
● Find your passion and work on it - we can also make a living out of our interest or passion
Saving could be done even at home and not always in a bank for a start. I started saving with my first salary and I put it in my Starbucks journal back envelope. Keeping money in this notebook helps me to forget about that money and I don’t have to spend or even try to open it. Now I spend my money wisely. I buy the food that I like and save some of my money.
I also have a plan to buy an under desk drawer from FlexiSpot for storage. It is called Under Desk Drawer S01. I thought it was cute and extraordinary. Aside from making it a storage drawer, you can actually store your money in it and lock it so that nobody could open and steal your money. So it is some kind of small safe and nobody would suspect you have money in it.
Aside from that, it is sliding under the desk drawer so it is almost inconspicuous under the desktop. You can hide the money under the school or office supplies without anyone noticing it.
It is heavy-duty and durable with a high-quality steel frame that can hold up to 22 lbs. Load.
The drawer includes a lock and 2 keys for security and privacy. The lock is of excellent quality and the drawer itself is safe for important belongings and confidential documents. Of course, it will also be my drawer for saving my money. Please keep this a secret.
The white coating makes it simple and almost unobtrusive, perfect for a minimalist or someone with a low-key profile or someone that is creative enough to make an under desk drawer like a small safe. This is aside from making my table organized and neat
This cute drawer complements with other desks as it could be easily mounted with the hardware included in the purchase in almost all table or worktops. Check the website out for more details.
I hardly can’t wait to have this under the desk drawer for myself. How about having yours too? Saving can be fun and exciting with this new under desk drawer.
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