A black man cooking to save money

Living alone? Here’s how you can save more money than you spend.

First of all! Hello to you 🙂

I’m sure you’re curious about my thoughts on this topic… I know!

Living alone is a thing – a WHOLE thing!

I see some of y’all side-eyeing… if you think living alone is easy, do am (try it)!

Those of us who live alone are the real MVPs.  Our names deserve to be in the Guinness Book of Records. It’s a feat that requires courage, grit and strength. Such a bold move!

To be candid, however, if you absolutely don’t have to, perhaps. You don’t need to. 

[I know you didn’t ask me but just food for thought]

The other side to this feat is that you can easily go broke. Before you say “Jack Robinson”, Debit alerts everywhereeeeee.

Worse is now when you’re responsible for your bills. No rich uncle or aunty to help you when money is finished. Like, you’re on your OWN. 

The only way out is to help ourselves. That’s why I’m writing this article on 5 practical and effective ways to save more this year.

  1. Review your current spending habits

If I pull out a magnifying glass now, I’d probably find out that you likely carried all your spending habits from 2022 into this new year, including the bad ones👀

  • So, review them. Make a list of all your spending habits. 

For me, it would be something like data, rent, food, groceries, power bills, etc … you get the drift.

  • After you’ve listed them, analyze each and see how often you spend on them. Do you NEED to spend on them that often or it’s because you can? If it’s the latter, it’s an area you should look to trim to save more.
  • How about subscriptions and memberships? The fear of missing out (FOMO) is a major trap.. Because why would you subscribe to Netflix and open it just once🤷.  That’s your money going into the air. See? Another area to review. 
  • Keep doing this every month and see how much more you’d be able to save🤑
  1. Weigh your Shopping options

You don’t have to buy from the most expensive shopping outlet… or do you? Eggs are the same everywhere. The same with Butter and noodles. 🤭

Not literally everywhere, but you get what I mean, yeah? There’s always a cheaper option. 

There are supermarkets that would sell cheaper. Even the trader within your street may even sell cheaper, but no, you’re spending more 5 miles away😭

…because you must be big😂🥺🌝

  1. Plan your meals

Oh, yes. We’re gonna do this. 

To be frank with you, if I had so much money, I’d prefer to outsource cooking. But until we hammer (make it big), we’d find ways to eat within our means.

Work takes so much of our time and we can not starve while we work. We shouldn’t also finish our money on food too😭. 

So, what’s the way forward? 

  • Try bulk cooking and storing in the freezer, so that the only thing you need to do is microwave and eat. Smooth, yeah? 
  • Try buying foodstuff in bulk too. Trust me, you’d save so much money from it.
  1. Have a Goal: Decide what you want to save/invest for

Now that you’ve decided that you need to save some more, what would you use the saved money for? 

…You didn’t start cooking in bulk because you didn’t know what to do with the money you were saving, right?

Having a goal in mind is a great way to strive towards that goal. See it as a reward for your discipline. It could be a vacation goal, buying an item that you need at home or even a career ambition. 

  1. Choose the right tool for your investment

In the spirit of thinking bigger, we’re also going to invest some of those saved cash and you need the right platform to avoid stories that touch the heart. 

Of course, I’m gonna chip in Trove here with my full chessssst!

I love that Trove allows you to own shares of top companies even with not so much money. Imagine owning a share of Coca-Cola with as little as $10 or ₦7,000 naira. 

Yea. That’s a flex that we have 😉

So, yeahhh. 5 solid ways you can save more if you’re living alone.

Do let me know if you found this helpful.

Your Fav,

Tomi From Trove 🖤

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