It’s very easy to spend money, as every knows (DUH!) I came across a good article the other day here, on how not to spend money. I’ve added other things to it which I thought would be helpful.
- Stick to a debit card or use cash. I only have one credit card and it has a low limit. I feel that this has helped me greatly with no overspending because I don’t have extra money that isn’t mine to spend. When you use a debit card or cash, you know exactly how much you have left and how much you can use.
- Don’t overdraft. I overdrafted once in my life, and it was when I was 16, because I accidentally transferred more money to my savings than my checking and then I overdrafted from my checking. This cost me $35, and since then I haven’t done it again.
- Don’t buy something on sale just because it’s on sale. If you’ll never wear it or use it, then was it actually a good bargain?
- Take your lunch to work. I try and take my lunch to work everyday and this saves me a lot of money. Instead of spending $7-10 a day on lunch, I can make something or just bring leftovers from the night before, with a cost of around $2 or $3.
- If you’re thinking about making a big purchase, try to sleep on it and think about your purchase for a couple of nights.
- Make a list and stick to your list when shopping.
- One thing I do before I buy something is to think about how long I worked for it. So if I wanted something I would think first “Wait I had to work 3 hours for this, is it still worth it?” Usually this helps a lot and helps me put everything in place.
What do you do to control your spending? Any tips for others?
Subscribe to get the free Master Your Money course!
Join the free email course and finally learn how to manage your money better, pay off debt, save more money, and reach financial freedom. Get our newsletter and get access to the freebie: