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6 Easy Tips For Spending Less

October 27, 2018

Looking to add to that savings account? You might want to think about your spending habits.

Sometimes a paycheck just doesn’t seem to last long enough. Whether you’re trying to save some extra money, payoff a big expense or adapt to a lifestyle change, trying to make your money last longer can be stressful. However, there are ways to help keep that money in your bank account longer. If you’re looking to spend less and save more, consider these helpful tips.

Use cash more often.

Credit cards and debit cards make for quicker trips to the cash register, but due to their seemingly limitless spending potential, we tend to overspend when using them. Try to use your cards only for big items or where you’ll get the most reward points. For smaller shopping lists, stick to cash. Take out enough money to get what you need and it will help you avoid unnecessary shopping.

Ask yourself “Do I really need that”.

Speaking of the unnecessary spending, we’ve all likely been the victims of impulse buying at one time or another. Those purchases made on a whim might not seem significant but they can add up. If this is a problem you identify with, be more critical with yourself when it comes to purchases. Is it necessary? Can it wait? Will you regret it? Asking yourself these questions can save a surprising amount of money.

Keep track of your spending.

Sometimes we don’t even notice our poor spending habits until we’re faced with the harsh realities of the situation. A few impulsive trips to the grocery store and suddenly you’re wondering how you’re going to make the mortgage payment. Don’t be caught off guard by these things. Keep track of where your money is going with a regular spending report. This not only gives you an idea of how your finances are looking but allows you to see where you could make necessary changes.

Keep your bill payments in line.

No one like paying bills but they are a necessary part of life. What would make them even less fun to deal with is if they came with extra fees due to late payments. Avoid that nightmare and keep your bill payments in line. Make sure you put aside the necessary funds each month to take care of the bills, set up reminders, pre-authorize payments so you’re never hit with the penalties.

Make your grocery shopping more cost-effective.

Groceries are an essential expense, but there are still ways you can save money at the store. One easy method is to always shop with a grocery list and stick to it. That will save you from filling your cart with impulsive and unnecessary items. Also, try using frozen produce. Buying it fresh is nice but how much money do you waste on fruits and vegetables that end up just going bad.

Discuss finance openly with the whole family.

It’s difficult, in fact nearly impossible, to deal with your household’s finances if the whole family is not on the same page. If you recognize that the spending habits in your house need to change, you can’t expect to make much progress unless you discuss the topic openly with your family. Let them understand the situation and what will need to be done by all of them. Allow them to bring up their own concerns and opinions. Once you are all aware of the situation, things can progress a lot more easily and a lot more effectively.


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