Save money It is one of the resolutions par excellence of many people for the new year. Whether to be able to make a large investment in the near future, such as buying a house or a car, or simply to spend on leisure, the truth is that raising a considerable amount of money is a difficult challenge.
And, throughout the month, there are many expenses that a person has to face. This, added to the low salaries of many workers and the lack of planning, can make saving a little money each month a challenge. true feat.
In this sense, David Delislepersonal finance expert and author of the book ‘The golden quest: your journey to a rich life’, has shared an effective method to reduce expenses and, thus, save more money.
It is enough to change a well-established habit among today’s population: paying with a credit card. Delisle draws on his own experience, as he stopped using this payment mechanism for a month and instead started pay with cash.
“The hope was that it would be a little more conscious and reflective and I would spend less during those 30 days,” he explained in an interview with the ‘Best Life’ portal.
How to cut expenses in half in one month
The financial expert did not stop using a credit card completely, since there are payments that are mandatory in this way. «In this age of technology, some things are impossible to pay for in cash. In those cases, I still used a credit card, but Whenever it was possible to pay in cash, I did so», he points out.
Not using a credit card to pay was a real challenge for Delisle, since cash is not practical. «It is bulky and time-consuming to use.. Using a credit card is much easier,” he says.
The fact that paying by credit card is faster and usually does not involve any type of complication creates a feeling of acquiring something for free. And that is precisely the key. “Cash makes those purchases a little more difficult and gives you Give yourself a little more time to reflect on your decision.», explains the finance expert.
euro bills
Paying in cash made Delisle rethink your purchase on many occasions. And, added to the discomfort of counting the bills and receiving the change, there was the sensation of seeing the money disappear from the purse. “This caused me a little more pain with each transaction and forced me to ask myself: ‘Is this what interests me?‘And often it wasn’t,’ he explains.
However, the result of stopping using a credit card for a month was very positive for Delisle. And, with this change, the financial expert managed to change his mind when it came to making unplanned purchases and, therefore, managed to reduce his expenses: “I was surprised the amount of things I aimlessly spent money on and without realizing it.
In this way, Delisle reduced his expenses by half. Especially, he spent less money on coffee, fast food and clothes. «I stopped spending almost everything I didn’t have.. I was surprised by how many things I bought simply out of habit. And the best thing was that I didn’t miss the things I didn’t buy nor did I feel like it was a sacrifice. I just didn’t want them enough to buy them anymore,” he says.
However, it is not an easy process and the most complicated thing according to the expert is taking the habit: “Once you commit to the challenge and do it, little by little you will get used to it and it will become easier and easier.” Plus, the sacrifice is worth it: “Hopefully, those 30 days will change the way you think about money enough to start to see a noticeable change in your spending habits».
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