Economics says” spend 75% of your income and save 25% for the rainy day”. Saving is indeed a good habit, one should save and spend but spending shall be in accordance with the earning power as well. Saving does not mean one should start sacrificing wishes in the love of saving; too much saving or spending is also harmful to oneself and to the economy of country, so taking the middle road is the best thing.
The Chinese people do the highest amount of savings in the world and therefore are enjoying tremendous economic prosperity. There are certain ways for lowering the spending. To start with, individuals should buy commodities with a lot of care i.e. making sure they buy commodity which they really require. And buying things which are of standard and not going after extremely expensive things, standard quality things can also be found at a fair price.
If a person is married then he or she shall brief the family of the financial state so that resentment does not erupts in the family members for getting their wishes not fulfilled, this is very important because as per this all members of the family will be on the same page as far as spending is concerned. Having lunch and dinner at home if previously family or individual used to have outdoor dining, this will also save money.
Investing money in some bonds or a bank, so that you are not left with the money to spend. Some people have a habit of buying clothes or shoes frequently, now if you have enough clothes then do not buy clothes and shoes to save money. If you live in Europe where the public transport is affordable then use public transport instead of our own car to save money and time.
If there are certain discounts available in your city then avail those, these discounts sometimes let one get hold of fine items. Instead of being brand conscious try to buy mid-range items like previously if you used to wear Marks and Spencer or Gieves and Hawks then quit those for some time go for ordinary dressing this will really make your wallet heavy.
Alternative fuels have been introduced like Ethanol and Biodiesel, if you are lucky enough to have an alternative fuel installation near your residence then go for it and become environment friendly. To lower the bills of household shopping prefer to go to Wal-Mart, Tesco, Asda and Kmart as you will get things at reasonable rates. If you spend a lot of money to eat junk food leave it not only for a month but for the good of your health.