12 Rich People Rules About Saving Money

In the world we live in, money is fundamental to a dream life. At least that is the idea of ​​most people. Most of us are always thinking about how to properly spend what we earn, so that our budget allows for a trip on vacation, always thinking about what we should save a little for emergencies. However, some people don’t seem to experience any money-related problems. They work like many of us, but they seem to know exactly what to do with their savings.

O awesome.club was intrigued by the way some people manage their money. The 12 rules we bring you today seem to be fundamental when it comes to saving money.

Many wealthy people follow the 24-hour rule. Maybe they don’t need to think twice about making an expensive purchase, but they always take a day (hence the 24 hours) to decide whether or not to buy something. Impulsive purchases are often unnecessary. Ask yourself if you want or need a certain thing. That way, you will avoid unnecessary expenses.

Carrying little money in your wallet is good because the less you have, the less you will spend. But that’s not very good if you just opt ​​for the credit card. Strategic spenders prefer to pay with cash rather than a card, especially for small expenses. The rich almost always stay out of debt. Start paying for meals with cash and see what happens.

It may sound like a cliché, but establishing a clear budget and sticking to it can save you a lot of money. Always do a serious audit of inputs and outputs, and put limits on your personal spending. Financial experts call this the 50/30/20 rule.

You don’t have to live in poverty to save. Rich people often spend their fortunes on things that guarantee a long-term investment. Make purchases that help your work and that can contribute to your growth.

Kimberly Palmera personal finance expert at Nerdwallet (a company specializing in personal finance consulting), is not above spending her savings on work clothes or a nice computer.

According to the news website Business Insider, the rich do not give up services that can make their time profitable and lessen their mental agony. They focus more on investing than spending. Ordering food, using laundry service or renting a slightly more expensive apartment to be closer to work can bring great benefits to your life. These details can be more expensive, but they are important to give you time and joy.

Millionaires in general seek to add new experiences to their daily lives. In general, they give higher priority to enriching experiences, always thinking about health and intelligence. They spend more on extreme sports and operas than they do on clothes, for example.

Paying bills on time is something we should all be doing, but not everyone can. People who know how to manage their money well are used to paying fixed expenses without delay through automatic debit systems, to be able to see exactly how much they have.

Everyone loves an offer. However, buying products that are not on offer does not necessarily mean throwing money away. Sometimes people spend a lot more money than necessary on things they don’t need. People who are good with money recommend making a shopping list even for days when we know stores have good deals.

There’s nothing wrong with buying things that make you happy. Many rich people work hard too, so they invest in things that bring them joy. If you love looking at the stars, get a telescope. Spend your money in a way that makes you feel good, regardless of what others might say.

People who know how to save also know how to control their desire to spend needlessly. Try to spend one ‘free’ day a week, or even a weekend, and stick to that rule.

Everyone hates having a bunch of loose coins in their backpack. We often forget about them. But it is important to know that currency is also money. Keep your change at hand and use it to buy a coffee or add it little by little.

Do you know other tricks that helped you overcome a financial crisis? Share your secrets in the comments!