After a great conversation with a friend at church this weekend about the challenges of managing cash flow period and as a couple more specifically, this post seems spot on.
The key to making headway on financial goals is controlling your spending.
Common budget areas that are tricky to manage are food/groceries, entertainment, and unexpected emergencies. Here are six tips to reign in your spending.
One of the best ways to stay on track with your spending is to create a budget. Think of your budget more as a plan for spending. If you’re aren’t working from a budget, then you may not have the most accurate information.
A budget is a great exercise, because it makes you think ahead before making decisions.
It’s easy to just take the first option when you find something on your shopping list but try to make time to do some serious comparison shopping. Not only will you find items that are better quality, you will also end up finding better deals by comparing prices and services between different businesses.
You can do this easily online or by simply calling stores that carry what you’re looking for and asking for their prices and current deals that are running. Another thing to remember is that stores will meet or match prices if you find an item somewhere else at a lower price. Take the time to look around and you’ll end up saving a lot of money.
Other than comparison shopping and budgeting, there are other ways that you can plan ahead to make sure you succeed in spending less. Instead of just mindlessly shopping, take note of what you already have. Use what you have and stretch your dollars further.
Often, it’s way too easy to get into a habit of spending more and more each season without even knowing it. This is dangerous especially if your budget isn’t increasing and especially if you have seen it decrease recently. Find ways to cut back on your spending by finding ways to enjoy life that are budget friendly.
So often, people rack up debt on credit cards to sustain their spending habits. Get rid of the temptation to spend more than your budget and more than your income by tossing out your credit cards or hiding them. Use cash and see how much more you can save by simply tracking your cash and only spending what you have.
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