WHAT’S POWER SPENDING?


07 Jun

Power spending means to spend out the hard earned finances smartly. Don’t just pay for an equivalent return. Try to get something of a greater value from the equivalent amount spent to get a fuller experience. For being a power spender, you need to do the following things:

  • Don’t go for ‘stuff’, rather buy experiences: Notifications, ads and sales will always attract you to buy an extra pair of things than what you require. But according to the researches, a vacation with your family or friends could give you more happiness. If your pocket is limited, try to reap out the maximum benefits from it.
  • No need to spend big amount of money if cheap alternatives are available: no need to go for an outing every weekend. Instead of that, you can be your own bartender and cook at your home only. Try to do the same every weekend. Invite your friends, save on commute and avoid traffic. The experience will be the same but execution is smarter!
  • Buy things at sale season: Be it your household furniture or washing machine, one must keep a close eye over the e- commerce sales. Look out for discounts and schemes in newspapers offered by the local stores. You will definitely have a considerable saving and will get a greater value out of the same amount of money.
  • Spend on the things that matters you the most: though it is a fun to spend money on experiences, but it is equally important to spend on the things which will make you happy. It is absolutely okay to be selfish sometimes. If you have a choice to buy expensive speakers as you are a music lover or you have to buy an expensive gift for your friend’s birthday, go for the former.
  • Take only cash with you: whenever you are heading towards market for a weekly shopping, take only the cash which you have budgeted. Leave all the debit and credit cards at home. While carrying cash you will certainly prioritize your purchases and will put out the unnecessary things back.
  • Shop up with a list: before you enter the store, write down the things you need at the most and stick honestly to that list. Make a plane and avoid unnecessary spending of money.
  • Make an inventory of the items you already have and see if you do not duplicate them: inventory what you already own. Make a picture of the things you already have and stop wasting money on duplicating the things.
  • Leave and go back: before making a purchase, force your senses to think if you really need that. It is always better to make a walk through before you make a purchase. Pick out the things that really fit in your budget and are really needed by you.

Try to spend on the right thing and that too on a right time. And always try to save something before you spend all.   


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