I always believe in the quote “Never spend your money before you have it.” I grew up doing this that even I had the opportunity to own a credit card, I made sure that I can still fully pay the amount before swiping. Having credit bothers me that I want to pay it as soon as possible. It’s a thing that I do that others might think weird and might ask “Why use a credit card if you are going to pay it instantly? Does it defeat the purpose of having one?
Though sometimes, it is just hard to resist and spend your hard-earned money. After all, you work for it and you kind of deserve it, right? But of course, if you are planning to save for the future or even wanting to purchase something of a big amount, saving is the best way to do it.
I’m not going to give ideas about the 50-30-20 rule of budgeting because for sure you’ve already read it from others websites who explained it better. It’s a good rule to follow, but depending on your thriftiness, you can adjust it to make your savings higher than your spending.
And to better give you an idea of how I do take control of my spending. Here are some tips you can try.
Buy in Cash (as much as possible)
Have you ever had that kind of experience where you visit a shop and then found a nice shirt, then you look at your wallet and realize that what you have is not enough to buy it? Paying in cash as much as possible will give you that doubt feeling of buying or will make you think twice before you bring an item home. Having credit cards or virtual money with you during shopping is good but because it is so easy to access, it can only tempt you to spend more than what you can allot. Remember to spend wisely and buy first what you need and not what you want.
Wait. Don’t buy yet!
With the current new normal we are all experiencing buying online merchandise becomes a thing. Honestly speaking, I’m guilty of overspending sometimes online, especially when online stores make the whole process of purchasing so easy to do. But of course, having control is key as well as the right time of spending. Once you added something to your cart, do not check out instantly, instead wait for the monthly sale to get discounts and free shipping. Another tip is to shop in one store all you needed instead of getting items from different stores. With that, you can get bigger savings from the shipping fee.
Track your spending in/out
Growing up and living independently it is important for us to learn how to manage our money, that includes accounting your own life. I started tracking my money a few years back and it made me realizes how much I’m earning and spending per month. With that knowledge, I could be able to really manage how much money should go out and how much money should be kept. You can simply do it via excel or do the old ways of using paper and pen. Just remember, make sure to allocate an amount first that goes to your savings, then to your utilities or monthly bills, and the rest can goes to your shopping spree.
These are just a few of the things that I do and I know you also have ideas or unique ways to control your spending. Let me know in the comment section below what you can say about it and it might help not just me but all the readers as well. And if ever you got problems with debts, well it would be nice to really learn how you can get out of it. Learn how to do it by clicking on this link https://www.debtconsolidation.com/how-to-get-out-of-debt/
I hope you learn something.
