Saving is something most of us are finding it difficult to accomplish. Women normally control the budget. Despite of all your hardwork, you can see your money slip your hand away in just a day or two and you’ll actually go back to your thrifty life just to make sure that your money will reach up to your next salary. Sad thing is that, you can’t even afford to put something to your piggy bank or bank account because everything just seem to be just enough for your needs and your family and when times of emergency, you’ll end up having debts from friends because you have nothing in excess from your normal expenses.
Why is it difficult to save? If you are single with no considered dependents, I think you have no valid reason for not being able to save. If you are married, you can still save and the more you should because you’ll never know what your children or whole family need in the future. I think it is better to start checking up on things at your house. From your closet, how many bags, shoes, and clothes do you have? How many gadgets, appliances do you have at home? Are they all very important for you? Are they all bought to sustain a need or just to satisfy your desires? Maybe after answering these questions, you’ll find out that the first thing you have to do is to analyze your spending habits and find out from there why it is difficult for you to save.
If you want your savings to be efficient, it should be at LEAST 10% OF YOUR INCOME either you are an employee or a business owner. If you are on religious organizations, you may be experiencing some of what they call “first fruit donation” in which you are to give what you sow first from the church. If that is the case, then do so for I am not against them. But after that, you should first allot money for your savings. Saving is not the money you end up in excess of your expenditure before your next income. Money should be portioned out under this category before you go spending all the money you have.
After that, you should start prioritizing important bills. Every month, set aside for all your monthly bills. As much as possible, pay it at once to avoid spending your money with something else. You’ll later on realize what are important and what wastes of money are. For mothers or those who have family, you can first allot money for your important expenses which are normally utility bills such as phone bills, electricity, water, TV bills, groceries because you don’t want to end up suffering without them. But, it would be better later on to get used of minimizing or conserving using them to have more savings. Cancelling unnecessary expenses can really help saving. You should change how you feel when you get hold of your income. You might notice that right now, there are so many things in your house that are just bought as unnecessary. You can do that as long as it won’t affect your savings.
Women are becoming more independent and having the responsibility to budget is one of the things that women should accomplish. Having money in excess will make your family enjoy life with more chance of fun and recreation. I’m not saying that money is the key to happiness but practically speaking, money can really make you enjoy your life with your family. Women in business should also be expert savers to be able to avoid being in debt and can be an opening to a better business venture by increasing your capital. Good luck with your savings!