FINANCIAL MANAGEMENT: 5 TIPS FOR SPENDING MONEY WISELY

Regardless of income, saving money depends entirely on how each person spends. People who are good at saving are those who know how to plan their expenses effectively and take advantage of each resource in the house.

Here are 5 secrets of spending money that Japan's most effective savings families never share.

Table of Contents

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1- Not go shopping every day

2- Not deciding what to buy when going to the store

3- Not buy things you like in bulk

4- Use a family notebook

5- Become a member of the secondhand market

Here are 5 secrets of spending money that Japan's most effective savings families never share.

5 Tips for Spending Money Wisely 5 Tips for Spending Money Wisely / ph: pexels

1- Not go shopping every day

Even if a person intends to save, going to the market or shopping every day poses the risk of having to spend more money. People who are good at savings tend to shopping less right from the start and but instead decide in advance when to spend their money, like weekends. This habit will also help reduce food loss effectively.

2- Not deciding what to buy when going to the store

When entering a store, maybe cheap items will make a person feel to have a good deal but in reality, that is not the case. Making a shopping list and buying only the essentials is the best way to save money. When listing from the most in-demand item down, at a certain point, the spender will find that his budget is no longer enough, so he will buy it next time.

This list-making method can be applied to anything from everyday necessities like food to clothing and household items.

3- Not buy things you like in bulk

Many online shopping deals often offer a discount on bulk purchases. However, with some items, consumers may have a loss, especially luxury items such as alcohol, cigarettes or sweets because they will be inventory in the house and the buyer will have to consume them more. Then, when used to it, that person will wait for the next discount to buy more, in large quantities and regularly.

4- Use a family notebook

The Japanese have a very good way of both managing spending and controlling what has already been bought in the family handbook. In fact, it's an extension of making a list of things to spend, specifically listing what you have in your home right now and how it is used.

For example, in a refrigerator, if a person has good control of the amount of food he has in it, there will never be a problem of rotting food that has not been used or there are items left in there for too long. leading to reduced nutrition and no longer delicious.

5- Become a member of the secondhand market

In Japan, due to a very strict waste classification system, if household items are no longer in use, people must contact waste companies for disposal. This will cost a lot depending on the size of the item, possibly up to several hundred thousand yen.

Therefore, many Japanese people often choose to call second-hand stores to resell if they want to change their furniture. The selling price is usually not high, even much cheaper than their use value (many are still in good use because the Japanese don't use the items until they're damaged, but usually have a shelf life, 7 years at most). However, such a resale at least makes a profit, and is still better than having to pay extra for the cleaning units to come and take away the items.