Budget
One of the easiest ways to cut out bad spending habits is to make a budget every month and stick to it. Allocate your spending for necessities such as rent, car payment, utilities and groceries, and then decide how much you have left over. Make a savings goal and dedicate that much to savings every month. Whatever you have left can be your discretionary spending for things such as entertainment. You must stick to the budget every month for it to be effective, though. That means that if your discretionary money runs out halfway through the month, you’ll have to live a spartan life the rest of the month.
Use Cash
Credit cards can be a good financial management tool for many people. They are convenient, they help build your credit history and you can even earn money through rewards. But if you are someone who can’t resist the urge to use credit cards for things you can’t otherwise afford, it might be wise to leave the plastic at home and use cash instead. If you limit yourself to cash spending, you’ll be less likely to splurge on impulse buys such as fancy electronics or designer clothes because you have to pay the entire cost of the item upfront and will realize exactly how much you are spending.
Eat Out Less
One of the worst spending habits most people have is eating too many meals away from home. Though the occasional dinner out can be part of everybody’s budget, there’s no Earthly reason to eat almost every meal at a restaurant. Instead of getting fast food over your lunch hour, pack a lunch instead. This simple act can save the average person about $2,000 a year. If you tend to eat dinners out because you don’t have time to cook, make several meals ahead of time on the weekend that you can warm up during the week.
Make One Big Trip to the Grocery Store
If you live close to a grocery store or market, it may be tempting to just grab a few things every time you run out of stuff, but that can mean spending a lot more in the long run. To alleviate this, you should plan one trip to the store every week or however often you need groceries. Scour the grocery ads to find the things you need on sale and clip coupons to save even more. Also, the less you are in the store, the less likely you are to make impulse purchases of things you don’t need.
Cut Down on Toys
Do you really need all the movie channels your cable or satellite TV provider offers? Can you maybe live with a 50-inch big-screen TV instead of a 60-inch one? Do you really need the latest most high-tech smartphone with the high-dollar data plan? The answer to these questions is probably "no," and if you can convince yourself that you are just fine with fewer toys, you’ll save a ton of money.
Save Wherever You Can
You may think you have no bad spending habits, but if you are paying too much for anything, it’s a bad spending habit. Make sure you have the absolute lowest rates you can get on car insurance, Internet service, credit card rates, etc. If you are spending $1 more than you need to, it’s a bad spending habit.
About the Author: This article was written by Phill representing CompareLogbookLoans.co.uk – an independent financial website bringing together and comparing available logbook loans.
| google+ |
- STAY ON TRACK & FOCUSED, SET MONTHLY GOALS & BUDGET / REVIEW: It all starts with a plan! Each month write down your monthly financial goals. Put...
- TAKE CONTROL OF YOUR MONEY & ACHIEVE YOUR FINANCIAL GOALS: Are you looking for the best monthly budget planner to keep your finances organized?...
- ELEGANT, SMART & PRACTICAL PERSONAL FINANCE: Clever Fox Budget Journal starts with 2 pages for setting your financial goals and their breakdown on...
- Jada Correia
- Publisher: CreateSpace Independent Publishing Platform
- Paperback: 148 pages
- THIS 2019 BUDGET BOOK - With your Limitless Mindset Budget Book you will receive 3 cash envelopes, 2 sets of stickers, and your own custom pen.
- 1 YEAR OF USE - 12 unique colors for each month undated. We are providing the best value for the price, because we care about our customers.
- TOP QUALITY MATERIALS - The front cover is made of PU leather and the inner pages are 80gsm. Each book includes 2 thick front and back pockets...
Last update on 2020-03-19 / Affiliate links / Images from Amazon Product Advertising API
end of post idea for home improvement
view and analyze home improvement ideas at our LetsRenovate center
Helpful article? Leave us a quick comment below.
And please give this article a rating and/or share it within your social networks.
