How to Spend Less without looking too Miserable
“If you buy things you don’t need, soon you will have to sell things you need” -Warren Buffet.
Most of us know that we spend more than we should.
But we struggle to actually do anything about this. Mainly because the idea of spending less, means missing out or depriving ourselves. Spending less is about not wasting money and using it efficiently without depriving ourselves.
Here are the tips to control your spending habits
Track Your Spending: If you keep track of your spending, you will become aware of patterns. You will notice the types of things that you waste money on, the types of things that add up to more than you think, and you will see ways to save money. If you don’t know where your money is going, you are most likely spending too much.
Have a Budget: Having a budget places restrictions on how much you will spend on different categories. You will know exactly what is coming in and what is going out. You can also work on reducing the amount you spend in different categories over time. Have a clear budget and try always to be within that. Have a simple budget that places your spending into broad categories.
Use Cash instead of credit card: Limit the usage of credit cards. Pay the bill with in due dates to avoid late payment charges. If you have problems paying off a card’s balance each month and have a hard time resisting impulsive purchases, cancel your credit card.
Be aware of impulsive buying habits: A shopping list gives you a clear idea of what you truly need and eliminates unnecessary purchases. Make a shopping list before you go to the store and stick to it.
Be aware: of the influence that product promotions do have on your purchase habits. Buy products you will actually use instead of substituting with something which is being promoted hard and being widely available.
Pay off a High Interest Debt: The interest from debt can be a significant financial burden. Making a determined effort to pay off a debt can be an effective way of saving money. Focusing to pay off a debt with high interest can free up a lot of money on a monthly basis.
Eat out Less: You can save substantially by eating out less. Look for times when you can bring a lunch with you instead of going out for food. Even cutting on couple of meals a week from your expenditures can go a long way in reducing spending.
Definitely your life will get lot better when you stop wasting money.
You start enjoying the comfort of having more money for the things which is needed.