Pointers to Help Conserve Spending

15
April

Spending is a big part of todays life. Just about everything in life nowadays is centered around money and spending it. There are some ways that you can cut back on spending and reduce the stress that money causes. Most of these are simpler than you think, and with a little bit of time and planning you will find yourself with more money leftover at the end of the pay period.

The first pointer on how to help conserve spending is to make a budget. This budget does not have to be anything fancy, just a simple list of all of the things you normally spend money on subtracted by the amount of money you have to spend. This budget is a way for you to visualize what you are spending and turn it into a physical object. This will help you begin your reworking process and give you an idea of what you are spending and how you can cut down on it.

Another way you can conserve spending is to write everything down as you go along. Create a money journal. Everytime you go to the store, even if it’s only $1.50 for a bottle of soda, write it down. Do this for a month and see how much you have spent in that month. It may shock you that the $1.50 soda you buy every week day during your lunch break is costing you roughly $30 per month, and that’s just for soda. Now pair that with the money you spend on eating out, the money you spend other small items like snacks and knick knacks, cosmetics, and other things that may not seem very costly at the time. At the end of that month, evaluate everything and look to see what you cut out. You may find that you want to cut down on your soda drinking. So instead of spending $150 every day of the week for a soda, cut down to buying one only on Monday’s and Friday’s, for example. This will cut you down from spending $30 per month on soda to around $12 per month, for a total savings of $18 per month. This may not seem like much at first, but when you start applying that technique to other items that you can cut down on, the savings can easily go into the hundreds.

If you have not already done so, start a bank account that is not linked to any other accounts and does not have any ATM or debit card associated with it. Everytime you receive a paycheck, put a portion of that money away into savings. Since this account is not linked to anything else, you will have to physically go to the bank to get any money out. This will help cut down on impulse spending and will allow you to start a small cushion to help with unexpected expenses or emergencies.

Look for deals on the things that you use on a regular basis. Things like your grocery bill can be drastically decreased with the use of coupons, lists, and sale price items. You can also do things like switch cell phone companies, reduce to basic cable or cut it out completely, and unplug electrical appliances to save energy and money.

Perhaps one of the easiest ways to cut down spending is to figure out why you are spending your money on these items. If you are spending money on things you need, you don’t have anything to think about. If you are spending a lot of money on things you don’t need, think about why you are buying them. If you are getting them to make yourself feel better or to fill a void in your life, work on those as the root of the problem. If you don’t have an answer to any of those questions, you should have no problem cutting the excess expenses out of your life.

Spending conservation is becoming increasingly important these days. With a little bit of self-evaluation, bugeting, and patience, and motivation you will be able to help yourself save money and cut down on your spending, and possibly increase the quality of your life while you do so.

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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