Tips

5 Do’s and Don’ts for Spending Wisely to Save Money

Instead of wasting money on things that will eventually become outdated, invest in and buy what brings you long-term value and benefits.

Administrator

15 January, 2024

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Instead of spending money on things that will eventually become outdated, invest in and buy what brings you long-lasting value and benefits.

Image: Shutterstock

Material satisfaction does not last long. The things you spend money on that are not worth it will only bring you happiness for a short period of time. New things always become old and we no longer find them interesting.

Therefore, instead of spending a lot of money on things that will eventually become outdated, Life Hack suggests that you invest in and buy things that can become long-lasting memories. Memory is a part of everyone’s life, helping them feel happy and affirm who they are.

Based on this mindset, here is a list of 5 things you should spend less money on and 5 things you should spend more money on. This list will help you save money and enrich your life.

Things not to spend much money on

1. Electronic gadgets

Electronic gadgets are undoubtedly essential in today’s society, but this does not mean you always need to spend money to get the latest ones. The feeling of having new, modern electronic devices will not last long because it is almost certain that there will be new, superior devices to yours in the coming year.

2. Temporary home decorations

Like electronic gadgets, there will always be a new home decor style that you can apply, so it is unnecessary to spend too much money to have a room that is labeled with the work of architects, the entities that make the suggested pictures you see in magazines.

3. Vehicles

Always striving to own the latest car models is not a smart lifestyle, unless you have the ability to pay off the car before you get the next one.

4. Latest fashion trends

You should not feel guilty when buying clothes, handbags, or shoes only occasionally. But if you constantly want to have a new bag or an expensive pair of shoes, maybe you should let go of this desire and save money for other occasions. Moreover, a too large wardrobe also takes up a lot of living space.

5. Jewelry

Exquisite and beautiful jewelry is essential for important occasions. It cannot be denied that many people can afford a thousand-dollar watch, but the reality is that for most of us, there is a fine line between beautiful jewelry and debts.

Things to spend more money on

1. Education

There is no feeling that can compare to understanding a new language without having to think too much to translate each sentence and each word. Although some programs have expensive tuition fees, language classes in general are still worth the money. Spending time learning about culture, language, and other professions will help you broaden your knowledge and become more versatile.

2. Travel

Traveling can sometimes be costly, but it brings you experiences, both good and bad, for a lifetime. People often laugh when they think about the unpleasant experiences they have had. In addition, some trips cost about the same as a laptop or even less than a car that you want but don’t really need.

3. Music

Learning to play a musical instrument is a good way to start a tradition for your family. You can learn together with your children or teach them how to play an instrument and create many beautiful memories.

4. Books

Books do not need you to start, make them feel happy, or force you to spend a lot of money but still provide you with a lot of useful information. The colorful world exists after each page you flip. Moreover, reading books is a good habit that you can teach your children later on.

5. Food

Instead of spending millions on handbags and new fashion designs, use the money to treat yourself and your family to delicious meals at home and when going out. In Italy, there are cooking classes in vineyards. Participants can learn how to cook delicious meals and share them with their friends and families. In Belgium, there are expensive but delicious chocolates that are highly rated.