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?
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