How to save money and be financially free.

The Year is still a baby and some people have already tossed  their new year resolution goodbye.

One of which includes managing and controlling money. Wel. Here are 10 super tips on how to save money would let you be in control of your spending and make you rich. I'm sure it will help you a great deal. Just  grab these techniques and be wise at spending.
Here is something you should know: saving one Naira or dollar is easier than earning it. The trick is on getting more money saved than wasted. Once you learn to manage well what you have, you can learn increasing the level of your income.


How to save money:
1.Be a clever consumer

This means a lot. For one, smart shoppers do not buy the first thing they see. This is a commonplace doing for Nigerians: jumping into a decision to buy something without really considering one’s options.

There are multiple methods of saving money while shopping. You may find a better offer and save; you may pick a different similar product; you may use coupons or discounts; you may bargain and demand a better price; you may but things in larger numbers to get a better price, etc.

Such a shopping takes certain training. You need to train yourself to get all the info on products; get all the opportunities and sale outlets and check them out before you make an acquisition.

If you are shopping for foodstuffs on regular basis, you should find the best outlet, which allows you to save dough regularly. In some places they offer weekly or monthly discounts. You may buy in bulk and stock up with victuals that can be well preserved to avoid paying a higher price.

2. Manage your impulses

Impulsive buying is the worst enemy of saving and marketers know it only too well. And, they do everything they can to lure you into an impulsive shopping mode.

So, how do you keep your emotions down and become a smart shopper? For one, you may leave money at home and go looking for the things you need cash free.

If you are using bank cards and go shopping to the outdoor market, do not cash much. You cannot pay with the bank card there and it would keep you from making unneeded purchases.

Another tip is to take someone less given to impulsive shopping than you. They opinion may be valid.

3. Eat at home

Eating out can be costly. Doing home cooking can save you tons of money. Just start writing all the money you use for food and on eateries. By the end of the month compare your expenditures. This would help you see how much you overpay for the food you buy in cafes and restaurants compared to the home cooked meals.

Besides you get an additional bonus for cooking at home: you always get the guaranteed fresh meals and healthy food in the style you like the best.

4. Set up a family budget


This is a crucial point of saving money. Budgeting is one of the best things you can do to keep the money in your walet. And, it has to be done before you bring home your income. Sit down with your partner and make a list of expenditure categories. Then set numbers in each of them. Sort them by priority type.

Single out those categories and bills that have to be paid no matter what. Find the optional ones. Set a special category for savings and make it your top priority categories. Do not go shopping right after you get the money. Go home and do one key thing: set aside the money for the savings (10% or more). Get envelopes and sort out all the money to cover the bills in your budget. This is how you minimize the overspending risks.

5.Turn saving into an investment|

How to save money? Once you set up a saving budget, do your best to turn that money into an asset. For one you may put it on your bank tab and get interest rated paid out to you. Or, you may find minor investment opportunities to make that money work for you and make more money.

6.Use cash instead of cards

Psychologists have discovered and interesting fact: people have hard time giving away cash. It is much more easier to pay with your bank card than with the cash.

A person spending cash experiences something very similar to physical pain and discomfort.

This works as a sort of safety-lock for your money. Feeling uneasy about spending too much can help you to cut down your costs and stay away from impulsive purchases.

7. Negotiate

Why buy at the price they offer you? Stop for a moment and take your time to negotiate a better price. You can do it in the open air markets and you can even do it in some small privately owned shops. When you shop at the larger stores there are also the ways to get a more affordable price.

Look for coupons and discounts. Go online and find all the best deals of the week or month. If you are making a large purchase, such as home appliance or a gadget, do not rush with it. Find out about the upcoming discounts or sales. Yes, you may have to wait a while, but you can save up to 30 percent of the price.

8.Put together shopping lists


Do not go shopping without one. Anytime you go to make even a small purchase, take a shopping list with you. Else you risk to come back home with a bag full of groceries or other goods you really do not need.

You can even take it one step further. Make a list of foods and other things you need to run a home (washing supplies, detergents, etc.). Do one time shopping with this list and get all you can store to last you a month. Do not go shopping unless you really need to and follow your shopping list to a letter. This is how you can save money and mend the class of your life.

9. Buy the things you really need

Most impulsive purchases are fun, but not really necessary. You may feel like you need a new cell phone or new lipstick, but you really don’t. See, many things such as gadgets tend to come out of fashion or become outdated fast.

There is no sense buying new stuff every few months. The old ones work as good as the new ones, but they may not be that fashionable. It’s no big deal. Ask yourself a question: do I really need it or do I just want to stay abreast with fashion?

10. Shop online

Online shopping may help you to cut down your costs. Of course, it is not as exciting as the market one.
That’s the catch. You do not get to touch, smell, try on or use a product and it becomes less attractive to you.
You can resist and avoid a great deal of impulsive shopping, if you do it online.
Moreover, some things can be gotten online at a better price.
The shop owners do not have many store related expenditures and can set better prices on things.


As you may see, these tips on saving money can work well together. You can come up with your money saving strategy and get enough funds for some big projects in your life, such as home repairs, car purchase or traveling.

Culled from Ask Naij