We all have that urge to spend once the monthly salary comes through the door. Some of us get paid in the middle of the month, and this leads to more spending; however when it approaches the to end of the month we do not have much money leftover to pay for important bills like rent, gas and travel expenses.
Here are a few tips to prevent overspending :
– Open up a savings account. Try putting away at least ten dollars a month, and instead of
that McDonald’s burger that costs three dollars, save this as well, making the total saving for that month 13 dollars.
– Do not have more than one credit card, as this creates a reason to spend, and you will also
accumulate a lot of interest; if you cannot pay the whole amount off in one month. Also do
not open too many clothing accounts, as this fuels the desire to buy on credit; however credit cards
can be very useful ; especially in emergencies .
– Try to cut down eating out. Fancy restaurants can be quite expensive, and home cooked meals
are definitely going to create extra room in your budget. Buy food from the local supermarket which is cheaper, and more healthier.
– Cut down using the telephone. Try making informal calls to friends and family
at off peak hours and week- ends when calls are generally cheaper. Do not sit too long on the phone, and avoid making cellphone to landline calls.
– Take lunch to work, as this prevents you from spending large amounts in the cafeteria
– Organize a lift club to work. This will save you money on fuel and also prevent wear and
tear on your vehicle.
– Cut back on unhealthy snacks like crisps, sweets and alcohol. You will be surprised
at how much money can be saved.
– LIVE WITHIN YOUR MEANS. Do not spend money on items that you cannot afford. Do not go
shopping too often as this just re-ignites the desire to SPEND, SPEND,SPEND!
– Always budget at the end of the month, reserving money for bills first and then spending on
entertainment. Do not overspend on items that you do not require.
Hopefully these money saving tips will create room for some extra money in your budget, and you can then spend it on that much needed holiday, or a deposit on a new car.