When Americans travel outside the US, there is often a lot of culture shock. Food can be prepared in a unique way and taste differently than what’s at home. The language of the language is clearly different, and the amount of money spent on other countries in other countries can actually be lower. This can be due to the differences in the exchange rate or … it can only be modest habits that are not adopted by Americans.
Next: 5 types of car pensioners should distance themselves from buying
You: 4 moves to do if you can’t pay all your accounts this month
The US is known for its capitalism, property and price labels, but that does not mean that everyone has to spend a lot of money to meet their needs. Here are the five modest money habits we can learn from other countries.
Daily shopping for food goods
Many Americans spend one day a week to get to the grocery store and buy everything they will need for the next seven days. In other places, a daily trip to the market can lead to surprising results, especially in their home food budget.
“In places such as Europe and Asia, many choose daily visits in local markets,” said Jake Claver, Digital Asceal Group CFO. “When buying fresh and just what a day is needed, not only does it reduce waste, but it is often healthier eating and surprisingly, saving over time. Americans could re -evaluate this strategy to buy large quantities.”
According to Kelly Palmer, founder of rich parents, “Europeans also save money, focusing on quality rather than quantity, especially when it comes to food.
Check: 5 modest habits Suze -horman still follow, even if she can afford almost anything
Sharing resources
In many Latin American cultures and the multilevel cooperation between countries, the financial stone stone for families, creating a complex and stable financial ecosystem. For example, in Peru, there is a practice of shaping community saving groups, called “Rondas”, where community members add a weekly or monthly amount of funds to the overall pool. By tradition, this utility account goes to one member at a time, turning between participants, promoting saving habits. It also reduces addiction to financial institutions while strengthening community bonds.
“In addition to common lifestyles, insight lies in the understanding of the financial ecosystem resulting from multifaceted generation support,” said John Browning, founder of Guardian Rock Wealth.
“It is common in different parts of Africa and Asia to make general resources, whether it be tools, books or even skills, is common,” Claver added. “This collective mindset not only strengthens the community’s relationship, but also greatly reduces individual costs. It is not only resource accumulation; it is a dynamic financial wisdom network, a common responsibility and mutual support. Americans can investigate the depth of this cultural approach,
Repair instead of replacing
If an electronic device or furniture is broken, Americans tend to dispose of damaged goods and get a new one. And what if it was arranged instead? Americans not only would save waste; They would also save money.
“In many cultures, the instinct, when something is broken, is not replaced, but to repair it,” Claver described. “Whether it’s electronics, clothing, or household items, a capture culture not only saves money, but is also responsible for the environment.”
Exchange and trade
In America, if you want something, you see how much it costs and you pay for it, often too much is spent in the process. However, exchanging and trading outside the US is common because prices are always rising.
“It’s a great way to save money and get the best possible offer,” said Christopher William, founder of a balanced news summary. “Whether it’s a car, a house or service, people abroad are more likely to negotiate the best offer. It is an invaluable money saving habit from which Americans can learn.”
The exchange trading system encourages the exchange of goods and services, often excluding use. Since the change of funds is not available, the costs reduce direct exchanges, while nurturing a sense of the participants’ community.
Give priority to work and personal life balance
“Europeans achieve much better balance between work and personal lives, which allows them to constantly not release short-term amendments to stress,” Palmer said. “When they achieve a better overall balance, they save money that would be spent regularly and sometimes on the name of Americans on behalf of self -care.”
Other countries, like Japan, have self -analysis methods such as the art of Kakeib, which allows practitioners to reveal certain thoughts or habits through reflections of the mind, including money.
“In addition to budgeting, Kakibo encourages individuals to reflect on their costs with a sense of goal,” Browning explained. “This reflection is not only about expenditure monitoring; it is a practice to understand emotional and psychological engines associated with decisions on expenditure decisions. emotionally informed financial decisions. ”
More from GobankingRates
This article initially appeared on gobankingrates.com: 5 modest money habits that Americans can learn from other countries