How to Save – For Young Solomon Islanders

With all the new ways of accessing information online, technology, new phones, new apps, a blend of overseas culture, more tourists coming in, more new music and more new fashion, we are finding it difficult to save money.

Below are some small hardcore tips on saving money:

1.Women should approach shopping like men  – Example for Young People 

I love it!, when men do shopping, most of them go shopping to get one item and come home.  Men usually spend only once a year, normally real gentlemen. They spend on quality lasting clothes/items. These quality items are quite expensive which will last them a year or so. If you see a guy wearing the same clothes most days, he has many more of that same outfit in his wardrobe. Men wear only as follows; the quality, the brand, fashion that lasts, money worth and feeling good.

Women, on the other hand, have eyes at the back and front, they want everything! Anyone wants to raise their hand?, Growl when you say, “I want everything”.

2. Do not shop for anyone when returning from overseas studies

Your excuse, I have no buck!. We always feel we have to please everyone and everything. Usually when I return from overseas, it is only me and my suitcase. There is always this feud, therefore, I have to buy small bulk packets of earrings and perfumes to make my family love me.

Never think that you are selfish. You are saving money for your future. You put aside for yourself what belongs to you. You tell them that!

When your boyfriend or girlfriend wants much more, you should know who to dump. Your future should not be a recurring spending of the same old recurring brain.

3. Avoid buying expensive Wedding gifts 

Our culture expresses the view, “if you do for me, I will do for you.”  It is a sign of respect too which was practiced long time ago and has still not faded. Choose your contributions wisely. If you are unable to provide a gift, join the group for overnight food preparation and be a waiter/waitress during the wedding reception.

4. Reduce Mobile Phones and Internet Usage 

Cut off recharging every week to once a Month. You do not need access to the internet especially when it is not important. Some schools now provide internet access for research. Meet up with your friends to discuss important topics . If people want to talk to you, let them call you.

5. Night out at the Clubs 

It  is fun to be drinking with friends, and enjoy night out. Not when waking up in the morning with a huge headache, wishing you have not spent that much on alcohol. Cut off alcohol spending, go out clubbing only once a month or once every two months.

6. Savings Account 

Open a Savings account and Save.

The moment you are born, you are eligible to open an account by a guardian until you reach the age of 18. Parents should start saving for you when you are little,  and hand it to you when you are older. If you do not have any account, best to start now. Ask the bank for their fee schedule and best options to saving. Make use of the bank officers, they have nothing to do anyways for the rest of the day.

7. Making use of  Shop assistant’s Knowledge 

Usually when I walk into a store, I approach the shop assistant, and say, ” I want this type of product, nothing fancy, and my budget is around, lets say $900.” This will reduce the shop assistant’s search. He/She will ask you some more questions, and there! you have your perfect product.

Be aware, always do research about your specific product before you plan to buy it. Compare all the prices and make a decision before asking a shop assistant’s knowledge.

Other times, walk into a store and ask at the counter how much a product cost. It is not embarrassing if you carry loads of shopping items, at the counter you can always leave them aside if it does not fit your cash on hand.

If you are in doubt, do not buy it.

8. Do not buy unnecessary items 

Do not buy items you will not wear or use. This is wastage of money. For example, you buy a dress just because it looks beautiful?, If you have lots of items in your suitcase or somewhere lying around in your room, get rid of them by selling it to your friends.

9. Think BIG, Earn BIG

Always think of the word BIG. I want something more meaningful in my life, I want something BIG that will benefit me in the future. I need to have access to expensive education/knowledge that will save me more in the future. Here, we are talking casual, part-time and full-time Jobs. Doing jobs during school holidays or on weekends.

Do not say it is difficult to find a job. Ask your Uncle or Aunt if you can baby sit over the weekends.

Look after Someone’s canteen, feed someone’s pigs for the weekend. Ask to do cleaning for someone, and iron their clothes.

Some young people use Telekom Top ups to earn money per month and they end up with around $5000 SBD.

Weed and clean around someone’s house for $100 SBD

Help with carpentry, if you see a group of men working, approach them and ask the boss if you can help at times.

Women in the villages, grow their food and every Saturday morning they sell them at the market.

We are very clever people, we just do not know.

10. Be more Simple 

You may wonder, why simple? If you think simplicity, you also think, whatever! Your neighbor or friends might have the best phone, iPad or laptop and you want one?

I do not care what people have, I do not care what am brought up with. Your life and what you need is more important. Do a selection of only the needed items in your life. Lets say, you need a laptop for doing your research, you need note books, you need a pen etc. You do not need an iPad, or a phone!

The laptop covers all of this. The laptop has a video camera, and you can save pictures. It has MS office, you can play video clips, you have access to face book. You can always draw on the pad in your laptop.

Buy an item that covers everything. Think BIG in number 9.

A multi-charger is useful for everything electronically.

A bus is cheaper to travel than in a taxi.

The Swiss army knife for booze is a 10 in 1 tool. Oops, sorry I went out of the topic.

We, women have lots of multi-tasking products, all in one to save money, this may not suit you but is a good example of saving money.

The  12 in 1 Multi function tool pen is good for those  who love carpentry work? Out of the topic again.

11. Smoking 

I love this! A roll costs $2.50 SBD. A person usually smokes up to 3 packets of cigarettes a day. Lets say, you smoke 10 cigarettes a day.

Per day, you spend $25 SBD

Per Month, you spend $750 SBD

Per Year, you spend $9125 SBD

Am tired of calculating, moving on.

12. Addictions

I think am right back on track, I went astray for a while, up there. Now, this topic is more interesting, eating betel-nut. I am totally addicted!

I used to eat a lot of betel-nut, totally addicted to it until my dentist told me to smile.

Seriously, I was not addicted at all! I only eat betel-nut when am with family members or blending in with feasting.

Calculations again!

Average price of Betel-nut is $3 SBD

Per day eating 10 Betel-nuts is $30 SBD

Per month $900 SBD

Per year you spend a total of $10,950 SBD

I truly wish and hope you save this amount in your bank account or purchase a scooter to deliver business mails for money.

13. Getting Dirty 

Do you see people cleaning up every morning in town? I do, because i wake up early.

Do not feel embarrassed for working in dirt. Earning and saving will help you in the future. Be happy to work cleaning offices, cleaning the town, cleaning the market streets, cleaning our hospitals, cleaning the school grounds, cleaning everything you can get money from. It is only for a short while my dearest…..

To make you feel better, I am addicted to cleaning. I used to do contract cleaning for houses, and I hate cats. I do not really hate cats, they just seem to be blocking the vacuum and slide sideways, even when you purr them to move.

We all have our own hardships and ways of saving, these are just some of the few ideas, and I hope these tips will help you save in some way.

 

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