These five golden rules of savings will help you save a lot of money to buy things you need instead of things you want.
1. Wait to buy what you want: You should never rush and buy the first thing you come across. If you make purchases without proper planning, you will regret what you bought. Instead, you should wait and make a plan before making a purchase.
2. Choose how you spend: Before making a purchase, you should ask yourself four questions—
- Do I need it?
- Will I enjoy it?
- Can I pay for it twice?
- Will I use it?
3. Start saving early: The earlier you start saving money, the more you will get to spend in the future. The easiest way to make your money grow is by getting interest, which is the money you get from the bank.
4. Stop wasting money: If you are given ₹10,000, will you throw it in the dustbin? Of course not. So, let us stop wasting money on buying excess food, clothes, stationery, shoes and many more things, which we probably don’t need. Save that money instead.
5. Set a goal: Goals are important as they give us a target to achieve. You can set a goal to buy a house, car or bike. At the same time, it’s important to set realistic goals because after you are done with the first goal, you can move on to the next goal.
ACTIVITY: Jumble Trouble
Rearrange the words to form famous idioms about money.
