When it comes to money related tips, every country differs in their opinion although all of them have the same motto which to efficiently use the money. The practice of saving and spending money is also greatly influenced by the culture of any particular place.
So here are money related tips that we have gathered from all around the world!
- Employ a budgeting system right from the beginning
Although we all have been using the budgeting system in order to manage our finances. But only few of us know that it originated in japan. This 100 years old system proves to be quite effective when it comes to fixing incomes, savings, maintaining expenses and also setting goals for all of these.
- Create a system for saving money with your local community people
The economy of Mexico is quite different when it comes to rest of the world. Mexico focus on a new system of economy called the ‘informal economy’ which makes up to 23% of the total economy of Mexico. Thus instead of relying bank accounts they have money saving communities called the ‘Tandas’. This helps them in making big purchases as the total money which is collected among the members and then it is lent to the person who has to make a big purchase.
- Use cash instead of a card to avoid overspending
This is one of the most common practices which the world should learn from Germany. The Germans emphasize more on the use of cash instead of cards. The reason is obvious which is when people pay in the form of cash they tend to spend less on compared to the times when they pay through cards.
- Save your money by not eating out
Out of the hundreds of things that Ireland teaches us about how to live a happy life based on moral values, they also have this idea of eating at homes and thus saving money. This is a great tip we can learn from the people of Ireland. They believe in avoiding eating at touristy area as they cost a lot. Also it is also cheaper to eat at pubs than at any exquisite restaurant.
- Don’t shop while you are feeling hungry
This is yet another important tip that we can learn from South Africa. This thing is especially applicable when you are going out for grocery shopping. People often tend to buy unnecessary food items when they feel hungry while shopping which they didn’t intend earlier. So it is advisable to have some snack so that you buy things that are necessary and not other irrelevant food items out of craving.
- Trade goods or services when you don’t have money
Majority of us have been through the situation in which we might have had to face money problems. But Zimbabwe very well knows how to tackle with this problem. They jump to trading of goods and services if they if they are dealing with dearth of money. This is more like the barter system that was used in ancient and still will come to your rescue whenever needed!
Thus there is so much to learn from this world. Every country has its own significance, culture and lifestyle. And when it comes to money management tips you will get to learn a lot of things that will help you improve your financial health.