Are you wasteful? Don’t you know how to manage your money and end up spending it on anything even if you don’t need it? If the answers to both questions are yes, pay attention to the following article in a COMO. On this occasion, we give you the keys that will help you to manage your income much better, to stop spending senseless and, therefore, to be able to save a little more.
If you want to know how to avoid spending money unnecessarily , pay attention to the following tips.
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- Evaluate your expenses, the first strategy to save money
- Tricks to save money day by day
- How to stop being wasteful
Evaluate your expenses, the first strategy to save money
To start managing your income better and avoid spending money unnecessarily, it is important that you first evaluate your expenses. What do you usually spend money on? That is the main question that you must answer. Hobbies, activities, clothing, or other items may be primarily responsible for unnecessary spending. The goal is to see if you are really spending too much money on discretionary expenses, that is, those that are not fixed, such as rent or basic services that are the same month by month.
In order to evaluate your expenses, you must carry out the following tasks:
- Review your expenses for the last three months, both from the bank card and the spent cash.
- Find out what% these expenses represent by dividing them into fixed and discretionary.
- Save all receipts to keep track of what you spend daily, so the quarterly registration will be much easier to do.
- If you need it, you can download the Fintonic application, so that you can plan your budgets and evaluate your expenses.
The goal is to answer you questions like: do I spend more than I earn? In a few days I spend all the income? Is it hard for me to make ends meet? These are some of the keys that will make you reflect on what you are spending and see what is the amount of money you spend on unnecessary expenses.
Tricks to save money day by day
Once you have evaluated your expenses in the last three months and know how much money you spend on unnecessary expenses, it is time to change your habits to avoid spending your income meaninglessly.
- To do this, we propose that you create a budget, which you must follow to the letter. To generate it, you must determine what your fixed expenses are(rent and basic services, transport, food, health, various expenses such as having a pet or dining out once a month …), in order not to spend more money than you don’t have .
- Another thing you should keep in mind is to set goals when shopping. It is very easy to spend meaningless when you buy or go out to buy the jeans you need. The important thing is not to overspend, so check what you really need, make a list and stick to it, especially in food. As for clothing or other vices, you must control your impulses.
- And precisely, not getting carried away when buying is another of the habits that you should redirect. Try to resist the temptation and ask yourself two basic things: “ Do I need it? ” And“ is it within my budget? ” If the answer is no, stay away from what you were going to buy and so you can save that money for something you really need.
- Do you eat every day outside? Reduce your expenses by preparing food and taking it to work. Although they seem insignificant expenses, they are among the most noticeable. As well as coffee, tobacco and other vices.
- Credit cards… NO! They can be dangerous if you are not able to manage your money, so we strongly discourage them. It is best to opt for debit cards, which discount the money spent on the spot. With credit, it will happen that you will spend what you do not have, but they will deduct it from you the following month, something that can be dangerous and can lead to major debt problems.
In order to avoid unnecessary spending, the ideal is to limit your expenses and this will only be achieved if you do your part and change your habits. Try to spend in a month only what you need and you will see how your savings account increases little by little.
How to stop being wasteful
Although it is very important that you try to change your habits and reduce your unnecessary expenses by yourself, sometimes the lack of control requires an external agent who can reorder your accounts and your ideas. However, the first thing you should do is be aware that you are a compulsive buyer who spends more than he has without being able to avoid it.
Compulsive shopping can cause serious problems, such as anxiety, depression or loneliness, and they usually occur, also in these contexts. In this case, you should deal with a therapist, since compulsive shopping is often considered an addiction . The same goes for gambling addiction or gambling, another agent that can cause useless spending of money. For all these cases, doing a therapy will help you obtain healthy alternatives that will help you deal with the different emotional problems that lead to unnecessary spending of money. Ask for help!