Are you tired of running out of money before the month ends? Have you tried putting yourself on a budget but don’t know where to start? You are not alone. Learning how to spend less and save more money requires discipline. It takes effort.
You have to work at it every single day.
In other words, you need to start creating a new habit.
It needs to become seamless to you, just like when you get out of bed every morning and brush your teeth. You don’t think about it, you just DO IT!
It is hard to save money, but It’s easy to spend it.
We are constantly bombarded from all angles with ads.
The store windows, the TV commercials, our friends keeping up with the latest fashion.
According to a report from USA Today the average American spends roughly $18,000 annually on nonessential items.
We live in a society where we are easily impressed and we are always trying to “keep up with the Joneses”.
We think, those material things, gives us a better social status, happiness, and a better life.
It is a vicious cycle of comparing ourselves to others.
Some people even get into debt just to try and fit in and be perceived as the “cool kids” sort of speak.
If you are trying to break this vicious cycle and if you are ready to start spending less money I will share with you a few tips that will help you save money and control your spending habits.
If you practice these easy ways to save money regularly you will see they will become part of your lifestyle.
These habits will be so normal and easy for you to implement they will become second nature to you and will allow you to save more money and use it to create more meaningful life experiences.
When you start controlling your expenses, it is you that have power over money, not the other way around.
Your money starts to have a purpose for you.
You start saving more, investing more and you begin to be more conscious of what money can really buy you … FREEDOM
Being Financially FREE is Priceless!!
How to Spend Less and Save More Money
1– Start by writing down everything you spend for one month.
Brake it down by weeks so you can start identifying your spending habits. Write down every penny spent.
2– Go through your spending and analyze them.
Start identifying which expenses are not necessary.
For example, if you are spending money on afternoon coffee, start using the coffee machine at your job or bring brew coffee from home.
In this post how to get free Starbucks drinks and free refills, I share simple tips on how to get free Starbucks coffee.
3– Keep a close eye on your bank statements.
Sometimes there are hidden fees for making too many withdrawals or money overdrafts. These fees add up.
4– Create a budget that helps you control your expenses.
Put yourself on a monthly budget and stick to it.
5– Stop spending so much money on foods.
Grocery spending is the #2 biggest cost for families.
Create a shopping list, budget for groceries.
Check out how to save money on groceries for more tips on reducing your grocery bill.
6– Use credit cards for your expenses whenever possible and earn points for cash or free travel miles (depending on the credit card).
NOTE: Use a credit card ONLY if you are able to pay the entire balance every month.
7– Stop or reduce your dining out and going out for drinks with friends. Instead, host a potluck with friends.
Rotate and do it at different friend’s houses each time. Make it fun!!
8– If you have a magazine, ebook or newspaper subscriptions, cancel them.
Get a subscription at your local library for free.
You will be able to access your magazines, ebooks, and newspapers online or at the physical location of your local library.
How to Control Your Spending to Spend Less and Save More
9– Adopt a critical mentality when its time to go shopping.
Always compare prices.
Ads companies is a multibillion-dollar industry.
We the consumers are the ones that end up paying for these ads.
Let’s be smart shoppers, not all brands are created equal.
Many times a non-brand name is just as much quality as big brands.
Also if you are into a brand name, shop their sales rack.
10– Don’t buy on impulse. if you want something, give yourself a few weeks to think about it.
Ask yourself “is it a need? or is it a want?”
11– If you want something really bad, ask yourself the following questions: “Can I afford it?”; “is it worth it to get into debt for it?” If it is something you truly need, tighten up your budget and save enough until you can afford it.
12– Consider purchasing a home.
If you are renting, all that money goes to the landlord. If you purchase a house the mortgage will be your rent.
At the end of the day when the mortgage is paid you own the house outright. It is YOURS.
13– Stay away from sales and promotions.
They are there to tempt you. Is it like “bees and honey”, or should I say “honey and bears?”???? You know what I mean, regardless you get my point.
Look for them if you are in need of a justifiable purchase.
14– Change your habits. If going to the mall with friends is one of your hobbies, change them. Instead, invite them over to your house.
Do movies night in, go for a picnic, play card games.
Start spending more quality time with your family and friends.
15– Get into the mentality of practicing self-care, instead of thinking of purchasing a pair of shoes you don’t need or a new dress for the next night out with friends.
Enjoy taking better care of yourself.
Go for a walk or a run. Take an afternoon to relax and read a book.
Life is not about shopping, expending money mindlessly or trying to keep up appearances.
16– Look for free activities to do in your community. Free exercise classes in a park. Free concerts.
Volunteer at a soup kitchen. Do things that bring fulfillment and meaning to your life.
17– Be an example to your children. Show them by example that material things don’t necessarily bring happiness.
Spend more time with your family. Bake together, cook together. Play games together.
These are the memories you will create for you and your children while teaching them valuable lessons.
Start using these ideas now to spend less and save more. Don’t procrastinate.
Evaluate your money behavior and see if you are falling into the trap of commercialism.
We are leaving and following the lifestyle inflation of our society.
No wonder so many people are in debt.
Do you want to follow the herd or do you want to break free? Like in the movie “The Matrix” do you take the red pill or the blue pill?
Break free, my hardworking little Bees!!
Remember to invest your time on what really matters.
Family and friends. Spend less money and start truly enjoying life.
Start Spending Less and Save More Money
- Keep tabs on all your expending.
- Create a budget.
- ONLY buy what is truly needed.
- Look for hobbies that cost no money.
- Start enjoying a debt-free life.
What are your strategies to start saving more and spend less money? Please share your strategies and tips.
Also, let me know how my article has helped you start a budget and turn your spending habits around. Comment below and share.