“Do not save what is left after spending, but spend what is left after saving”
– Warren Buffet
This is second part of the series “Ways to save Money”. If you want to read the part 1 please click here.
Don’t you just love the quote above? Our lifestyle is so used to working in forward direction (earning and spending) that we never stop and notice that reverse engineer the calculations can change our lives.
If we decide on how much earnings will go to savings and investments accounts it will be so much easier to figure out our expenses. More ways to save in your daily lives:
1. Use Cloth Towels instead of Paper Towels in Kitchen and Bathrooms:
Over time I have a collected over 20 small scrubbing towels. I use 3 of them every day in kitchen and collect dirty ones in a bag till I have enough for one load.
I still have paper towel in my kitchen but use it only for oily messes or when I don’t want to get my white cloth towels stained badly. This also earns a bonus point for me save money and be environment friendly!!
2. Keep an Inventory:
Before I head out to do my groceries over weekend, I open the fridge and check what all I already have and how much. Then I go to my pantry and see what I have there. And I plan few meals if possible for coming week with what I already have.
This helps me in two ways.
Firstly, sometimes I find food which is close to expiry date and I make sure to use it sooner rather than later. For example I had this open pack of dhal vadi which goes bad and starts smelling if you don’t use it soon enough.
Secondly, since I know, I already have 2 or 3 meals covered with what I have at home, I have a better idea of list of items I’m buying and how many or how much too.
How do you budget for all your expenses? Do you do it weekly, monthly or annually?
Since we are all in this together, I will be so happy to get extra tips from you in the comments below.
You will be interested in the rest of the series:
