Banking in Mongolia №2 /EN/

BANKING IN MONGOLIA

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MBA Magazine | 2015

BANKING IN MONGOLIA

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MBA Magazine | 2015

BANKING IN MONGOLIA

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MBA Magazine | 2015

BANKING IN MONGOLIA

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MBA Magazine | 2015

BANKING IN MONGOLIA

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MBA Magazine | 2015

B A N K I N G I N M O N G O L I A 37 HOW CAN WE PREVENT MONEY BEING

SPENT ON USELESS THINGS? It is all too easy to spend money quickly, but there are certain ways to change our spending habits and save more money. We can do this by making an effort to control spending, making calculations when budgeting and shopping, and by being smarter, better-informed consumers.

USE SMART DEVICES

WATCH WHEN SHOPPING Ask yourself twice before buying an item: “Is this really necessary?”

SMART BANK

Choose a credit card, but not cash. This way, you can keep a history of your purchases.

Control your account by using Smart Bank Apps.

Do not go shopping when you feel bored, disappointed or too excited.

Use Easy Info service if you want access on demand to information on account transactions.

DELAY YOUR PURCHASE

CONTROL YOURSELF Delay the purchase and wait for a week.

Calculate the total amount of money you spend on a weekly or monthly basis.

Does you still need to buy it even after a week?

ALWAYS PLAN Learn to make all routine payments such as loan, electricity and phone on time.

CUT YOUR CONSUMPTION, IF NECESSARY

In order to save money and reach your financial goals, you could cut your consumption just like a diet. For example, no-taxi week, no-coke drink or no-ice-cream week and so on.

AVOID IMPULSIVE PURCHASES Make a distinction between demand and wish. Having a latte or catching a taxi every day, having a constant access to social networks such as Facebook, Instagram etc. by using your data on your mobile phone. Are these really necessary?

Do your research well and compare prices. Remember sometimes the online price can be cheaper than the price in the shops.

Make a list of items you need to buy when you go shopping. Avoid making a sudden purchase when you are excited.

CHEAPER SOLUTION FOR LUNCH Save the money you spend on bottled water and soft drinks.

Instead, pour water in a used bottle and take it with you.

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Prepare lunch before you leave home. This is healthy and cost-effective.

golomtbank.com FOR YOUR FINANCIAL EDUCATION