- Read Rich Dad Poor Dad. The best lesson I
learned from the book—assets are what put money into your pocket,
liabilities are what take money out of your pocket. That said, your
prestigious house and luxury car are not your assets.
- Budget
your rent at 10–15% of your income. If it’s too low, live in a smaller
place or stay with your parents.
- Organize your living space and things, so
you don’t buy things you already have.
- When
you feel like buying something immediately in first sight, walk away for
10 minutes. That 10 minutes help you to figure out whether the purchase is
a need or simply an emotional urge to buy.
- Plan
before you move to a new place. Do some research on the public transportation
available? In most cases, you don’t need a car.
- Learn
to cook for yourself. Even better, come up with 4 lunch and 4 dinner
recipes, cook the same lunch and the same dinner for a week.
- Stop
dating materialistic people.
- Only
when you make sure your partner is okay to live frugally, live together.
This helps to cut many expenses down to half such as electricity bills,
internet bills, house maintenance, etc.
- Set
up an auto-transfer of part of your monthly earnings to a locked saving
account. Make it a habit of saving before you spend.
- Donate
money for charity purposes which can feel an immense sense of satisfaction
and happiness that is indescribable in mere words
- Never buy any products by seeing the
only discount, buy only based on your usage.
- Avoid Credit cards or taking loans
unless you are making more profit than paying interest
thanks for reading and please share with your friends
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