Learn how to manage your money with efficiency

Managing your money correctly may seem like a very difficult thing to do, but by following this simple advice, your goals and dreams can be easier to reach than what you originally may have thought. In this guide, you will learn how to save for large purchases and how to differentiate what you want from what you really need. 


Large purchases, like home appliances or a new car,  can be much easier to achieve if you take the time and trouble to plan for them carefully. Here you will find 6 easy tips to help you save for large purchases: 

1. Start paying with cash

Paying for things (all things) with cash is the best way to really begin to take control of your money. . When you commit to leaving loans and credit card balances behind, you don’t have all that money wasted on interest payments anymore. This is how  you can start really building long-term financial stability and wealth  

2. Analyze whether the purchase is really worth the money

Look throug your budget to determine if you can really afford the large items that you want to save for. As we just said, it is important to make sure you can buy the item with cash in the needed timeframe, without going into consumer debt or relying on a credit card. After that, you should consider if purchasing that item is worth possibly overshadowing other financial goals, for most of us don’t earn enough money to buy everythhing we want. One last thing to bear in  mind is how many hours you must work to be able to pay for the ítem. For this, you need to calculate how much you are paid for an hour of work and see if it is really worthwhile.

 3. Plan a budget to save a certain amount each month in separate saving accounts

Once you are sure that a purchase is in line with your values and your financial priorities, decide the amount you will set aside each month for the item or category. The best way to make sure that you don’t spend money you were saving for one thing on something else is to set up multiple savings accounts. This way you can calculate how much time it will take to save for the ítem and you might even be able to negociate the price if you pay in cash.

4.Cut down on other expenses

If you need to make a large purchase in the near future, then look for ways you can spend less in other áreas. This will help you achieve your goal in less time. Examples of this may be: eating out less times, buyig cheaper clothes, using coupons or taking advantage of sales.  

5. Consider earning extra income 

Another way to purchase the item or items more quickly than your actual budget will allow, even after cutting down on expenses, can be to earn additional income. There are many extra Jobs you can do in your free time and that do not require a great effort. Examples of this can be driving for Uber or delivering food for Ubereats. 

6. Look around and negotiate the price

Prices for items vary widely depending on where you purchase them, so take a little time to shop around. Before you buy, look around online to look for the best deals, this can save you hundreds or even thousands of dollars. And when you have found the best price, try to negociate the price. This may be a posible option, specially since you will be paying in cash.


The first step towards spending is making the conscious choice to do it. This is why it’s so important to stop any impulsive and unnecessary wastes of money at that moment. Most people have stuff laying around the house that hasn’t been used in years. Clothes, toys, even home appliances that someone bought at some point but were never paid much attention. All the money you’ve spent on things like these could’ve been saved or used to purchase more meaningful items, which is why it’s necessary to avoid making these mistakes again!

The key to stop buying everything that “looks nice” or “will surely be useful” is to learn the difference between what you want and what you need. Clearly, you should prioritize your needs, which are different for everyone but usually include basic stuff like food, hygiene products, and car or home repairs.

You can still save money when purchasing what you need! Here are some tricks to stay on a budget while grocery shopping. Another classic way to stay under your budget is to separate the money you’ve destined to fixed expenses, such as grocery shopping or mortgage payments, and tuck it away to avoid temptations. This can be easily done with a Cash Envelope Wallet!

Of course, life isn’t all about your survival needs. There’s nothing wrong with spending some money to get something you want, as long as you’re sure you really want it and you won’t regret having spent your savings on it. You may not realize it, but there are a lot of times when you buy stuff that you won’t use even though you sincerely believed that your life would be better with it.

One reason for it is that you’re a victim of a brand’s marketing campaigns. In essence, getting people to buy your products is possible if you convince them that they’ll have a big, positive impact on their lives. This is what brands do: they make you believe you’ll enjoy a product or service so you’ll buy it. Sometimes, the excitement wears off before getting home, so it’s always good advice to take your time before making a purchase. Do you really want it? If the answer’s still “yes” after a few days, you can be sure you’ll make good use of what you’ll buy.

Another reason why you may be tempted to buy things you don’t need and maybe don’t even want is simple peer pressure. Whenever your friends or family invite you to outings or post what they’ve done on social media, you’re likely to feel envious and wishing to do those activities or purchase what you’ve seen. This is called FOGO: the Fear Of Missing Out!

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