How Not to Lose Money
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Losing money is just one of those things that is so aggravating. Whether it is five dollars or 100 dollars, we still feel the same sense of disappointment.
Step 1
Bring only enough money that you need for the day. You must know how much do you regularly need for a day. For a day’s work, bring only enough money for gas, lunch and other necessary expenses. The less money you bring, the less money you will loss in case you lose your wallet. Bringing only an exact amount of money will also make you avoid temptations. We often buy unnecessary items when we have extra money with us and we end up losing our money or spending it in worthless things. It is equally important that at your age, you must be able to differentiate wants from needs.
Step 2
Have a good wallet for your money and other small documents. Never underestimate the power of a good wallet. It organizes your bills, receipts and other cards. Having a wallet makes you know whether you money is still in your pocket. Generally, money is lost easier when it is not placed in a wallet because you cannot feel its presence and you would not know if it falls out from you pocket. Make sure to have a good wallet, one that doesn’t slip easily out of your pocket. When traveling or in crowded places, put your wallet in your front pocket, not in your back pocket. However, having a good wallet is not a substitute for a saving account.
Step 3
When shopping, list what you need to buy. By listing what you need to buy, you will eliminate unnecessary things that you don’t need to buy. Most of our money is lost in spending for items that are actually not needed by you or your family. They may appear on sale or bargain but there is no use of buying a bargain item if you do not need it in the first place. You end up throwing away your money on sham promotions. You must stick to your list and find the best buy for every item listed there.
Step 4
Keep your money in a savings account in a nearby bank. Most of teens, and even adults are considered impulse buyers. They buy an item without examining its quality or utility. This tendency can be decreased by putting your money in the bank. Money is better in the bank because it is safe from thieves and safe from you. You don’t have to fear losing your money in the bank because most of banks nowadays have insurance. And you got to benefit from the interest from your bank savings. Keeping money in your house is actually disadvantageous as it encourages burglars to rob your house. Most of them are just walking around your community or even has entered your house as a guest for once. In order not to lose your money, property, limbs and even life, keep your savings in your savings account.
Step 5
Beware of scams. There are a number of scams running not just in the internet. Keep an open eye and never fall for these. Never give personal details in the internet especially those asking for your credit card number or savings account number. Not just your money will be stolen, but also your identity. There are a number of resources in the internet to avoid and detect scams and you should try studying them before your enter in an online transaction.
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16 May 2008, 7:12 am
Do not waste your money paying unnecessary interest. If you have debts that you might be able to pay off early, then find out if you can do so. Even with a penalty charge you may still manage to make a big saving. It is well worth looking into.