There are certain unspoken societal rules, which should be long forgotten if one of your primary goals, for the time being, is to save a greater percentage of your disposable income! If you’re interested in learning about 3 outdated societal rules which you should break in order to increase your bank accounts balance, simply continue reading.
How to break the rules, save more money:
1. Don’t be pressured to purchase designer brands
If you feel that you have to purchase designer items such as branded clothes and electronics, you may end up wasting thousands of dollars, which could be put to better use accumulating compound interest in a long-term savings account. Or invested in investment opportunities which offer a competitive return on investment.
So do yourself a favor and forgo purchasing high-end designer brands, simply for their brand name or logo and instead choose products which are well constructed out of quality materials and you should find that you’ll save a few extra thousand dollars per year.
2. Don’t feel the need to upgrade your belongings well before you’ve worn them out
In past generations, individuals would take more care of their belongings and would often keep their items, until they were well and truly worn out. However, in today’s society, it has become increasingly more commonplace for individuals to throw out or replace items which are still in great working order. As an example, there is often great pressure for individuals to continuously upgrade their smartphone on a yearly basis.
However, if you’re serious about saving more money, there’s no good reason why you can’t use the same smartphone for several years. After all, if your current smartphone is modern enough to be able to run the latest apps, is there actually any reason why you should replace it? If the only reason why you replace products is to impress your friends and family members, it may be time to learn how to be confident, without seeking approval from other individuals.
3. Don’t give in to pressure to spend too much on a night out, to try and impress your friends
If you’ve gotten into the expensive habit of spending too much on drinks on a night out, in order to try and keep up your friends, it’s time to stop giving in to peer pressure as your wallet and bank account will thank you for it. Instead, make sure that you have a budget which you’re comfortable with before you head out for a night of socializing with your friends and you’ll be sure to save a lot of money in the process!
Remember that if your friends don’t find you great company, without you having to spend a small fortune on expensive drinks, the individuals in question are unlikely to be good, supportive friends, who you can rely on!
After reading the information above, it’s well worth breaking the 3 outdated societal rules listed above in order to drastically increase the amount of money which you save in the next 12 months!