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Tips to control overspending

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Many of us are guilty of overspending. Some have already spent their salaries in advance (even though it’s still weeks before they receive their salaries) with the use of their credit cards. Personally, I tend to overspend on groceries and I don’t feel too bad about it because I’m buying food anyway. However, overspending is still bad. So, how do you control overspending?

1. Create a budget. I know its easy to say this but difficult to practice it. Make sure that your budget is feasible. Some people do the 70-30 (70% general expenses, 30% savings), 70-20-10 (70% general expenses, 20% savings, 10% tithes), etc. Make a budget that you think will work for you. Set an amount for specific expenses such as grocery shopping, date night expenses, clothes shopping, etc.

2. Make a list. Before going to the grocery store, write a list of the things you need to buy. Stick to the list. Be strong! Also, avoid going to the store hungry, you’ll end up buying stuff that looks good even though its not in your list. I usually go the store after work, so, I’m often tired and hungry. I end up buying stuff I don’t usually buy because it looks delicious. Haha. There are so many tips on how to reduce your grocery expenses on Pinterest. You may want to check those out too. They are very helpful, specially if you want to eat healthy food minus the huge expense. Fruits and vegetables can be expensive, specially the organic ones.

3. Practice delayed gratification. This applies really well on material stuff like computers, cellphones and other gadgets. If you don’t have the cash now, try to save up first. Don’t charge it on your credit card. Trust me, even before you pay off the amount (plus the interest) you will charge in your card, the price of that gadget already depreciated. Also, there are some store who give discounts if you pay in cash. Most people like to have the newest gadgets once they come out. Apple, Samsung and other companies have elaborate unveiling of their new products to entice people to pay an exorbitant amount for their latest stuff. Believe me, waiting for a few months for the hype to go down will save you some money. 

4. Live simply. This pretty much answers the whole overspending problem. You don’t have to keep up with the Joneses. Know what you can or cannot afford. Know your wants and needs. Don’t spend to look rich, save your money to be actually rich.

I hope this helps. If you have more tips to avoid overspending, just leave a message at the comment box! Thanks! =)

Where to buy and sell used gadgets in Saudi Arabia?

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While I was in the Philippines, we decluttered our home and found out that we have so many gadgets lying around. I sold a used netbook and a PSP via OLX. It’s a popular buy and sell site in the Philippines. They also have an android app you can install in your phone so that you can monitor your items wherever you go. It’s a pretty awesome deal, I was able to free some space at home and I got to earn some money.

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If you are in Saudi Arabia and you want to sell some of your items online I recommend selling it at expatriates.com. It’s a very user friendly site, and has a lot of traffic. In my experience, mobile phones are the easiest to sell. This is also the same site where I bought my htc m8 phone. Just make sure that you put your mobile number where interested buyers can contact you to negotiate with the price. Most sellers communicate with buyers via whatsapp though, so, you might want to install that app on your phone first.

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In selling an item, make sure that you list the specs (if selling gadgets like cellphones, tablets, computers, cameras, etc.). If there are any issues, like dents, cracks or scratches on the item, make sure that you also include that in your ad. An actual photo of the item is also very helpful in making your ad more appealing to the buyers. It also prevents prolonged negotiations, unnecessary questions and confusion among the interested buyers. Don’t forget to include your location on the ad.

Once the buyer and the seller agreed on the price of the item, they will set up a meeting place. In my case, I make sure to put in my ad that my items are for “pick-up” only. I asked the buyers to go to my I work, which is safe and equipped with a CCTV camera. When I sold my gadgets in the Philippines, the meet up area was in a public place where there is a security guard and a CCTV camera… the best option would be inside a mall or a  fastfood place like Jollibee. When I bought my HTC phone the previous owner delivered it at my work. As long as you ask politely and negotiate reasonably, you can get the item you want within your price range and they will deliver it to you nicely.

Tips on buying items at expatriates.com:

– Avoid transacting with sellers who are asking you to pay via Western Union. It’s most likely a scam.

– Check or ask for the reason why they are selling their items. Most sellers would post in their ad wether they need to upgrade their gadgets, or just need an extra cash. Watch out for people who are selling their items because they are exiting the country. Those kind of sellers are usually in a rush to get rid of their stuff that you can buy their items at such a low price.

– Haggle! Don’t be shy to ask for the last price. Some of the people I negotiated with are very understanding, they delivered the item to me AND hacked 200 sar off from the asking price. Cool huh?

Many people find the buy and sell business lucrative. If you have the time and you have a good knowledge regarding the items you buy and sell, this could be a good side line for you. If you are in dire need of extra cash, selling items you no longer need is a very good solution.

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