It may seem like the rich are all about throwing money around and living in luxury, and by and large they are! But the truly wealthy know that every penny saved is worth every penny. So why not follow their example? These 12 practical savings tips from wealthy people will help you turn your bank account around for the better. Other videos you might be interested in: How to Stop Living Paycheck to Paycheck • How to Stop Living Paycheck to Paycheck • 14 Money Facts You Need to Know Before You Turn 30 • 14 Money Facts You Need to Know • How to Save a Lot of Money If You Love Spending • How to Save a Lot of Money If You Love Spending Timestamps: Tackle bills right away 0:26 Make a shopping list 1:08 Have no-spend days 1:42 Pay cash 2:23 Save change 3:08 Repair things Spend money on personal growth Spend money on time-saving services Invest in hobbies Spend resources on new experiences Follow the 24-hour rule The 50/30/20 Method Preview photos: Wild, Reese Witherspoon, 2014 / ph: Anne Marie Fox / TM: By Fox Searchlight / Everett Collection / EAST NEWS, https://www.eastnews.ru/pictures/pict... Confessions of a Shopaholic, Isla Fisher, 2009: By Touchstone Pictures / Everett Collection / EAST NEWS, https://www.eastnews.ru/pictures/pict... Animation: AdMe. Music: Epidemic Sound https://www.epidemicsound.com/ REVIEW: Make it a rule to pay all fixed expenses on the first day using automatic payments. This way, you will always have a clear understanding of your financial situation. Make a list in advance and plan big purchases during sales to save! If the list does not help to get rid of impulse purchases, then it is time to try the ultimate method: no-spend days. The task is extremely simple: forbid yourself from spending money on unnecessary things for one day. - “Going cashless” seems convenient, but as soon as you realize how easy it is to swipe a card through a terminal, you will see that this method of money accounting is quite tricky. For example, with the change that you threw in your wallet and forgot about, you can buy a cup of coffee or a snack that you would otherwise spend the main supply of money on. When something breaks, our first thought is to replace it with a new one. But most often, a broken thing can be easily and quickly fixed! Many millionaires agree: they believe that a purchase should serve as long as possible. Who said that saving is humiliating? You can approach the issue from a completely different angle and start spending money on self-improvement, and not on another pair of shoes. Speaking of effective spending, we cannot fail to mention the article in Business Insider magazine, which claims that the rich do not hesitate to spend money on services that save them time. Do not deny yourself the opportunity to buy a guitar if you really want to learn how to play, or spend money on a good camera if you want to take pictures. Most millionaires live interesting lives thanks to the ability to invest money not only in cool ideas, but also in new experiences. Let's say you are shopping and see the coolest home decoration in the world! Naturally, you immediately want to buy it. But instead, go home and wait 24 hours. If you want to finally start saving money, here's how you should split your income: 50% goes toward the essentials (housing, maintenance, food, etc.), 30% goes toward personal needs (like entertainment, shopping, hobbies, and anything that makes you happy), and 20% goes straight to a savings account. Subscribe to AdMe: http://goo.gl/DgUonf ---------------------------------------------------------------------------------------- We're on social media: That's life! on YouTube: https://bit.ly/2tKobHX Take and do Kids https://bit.ly/2H5MVlY --------------------------------------------------------------------------------------- More great articles and videos on http://adme.ru/