1. Receive and spend it consciously.
Express gratitude when you receive it and say thank you to it for serving you when you are giving it to someone, or even shopping online. It may sound a bit silly to some but this is a well known practice in India and in Japan, and when one spends it consciously, they are more mindful about how they spend it.
2. Plan.
The best way to do this is to create a note or excel sheet on your expected expenses and evaluating how much you need to save for a goal you may have in mind. Once that is clear, save first and then spend what’s left if possible.
3. Limit debt.
While pay later and credit cards are meant to make us borrowers, we need not fall into those traps. Being debt free is a freedom and needs some sacrifices.
4. Make your money make more money.
Invest your money towards your goals. There are many options out there but if you are risk averse and want it managed for you then go for a fixed deposit or mutual fund (read up on the scheme you are putting your money in before investing).
5. Define your ‘needs’ and ‘wants’.
Once you are clear on this, you will noticeably cut down on unnecessary expenses.
Of course, many purchases are unavoidable and one shouldn't feel guilty about having a decent quality to life.
The thing to be mindful of is that this is your life, your story, and nobody else should have editing rights to it. Don't let others dictate what you should and should not fill your life with.
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