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Some of us are forced into sticking to a budget while others of us simply want to start accumulating a larger savings. Whatever the reason for you wanting to be more budget conscious, you’ll need to stick to it in order to achieve your goals.
Here are some helpful tips that will help you stick to your budget so you can get out of the red and start seeing more green.
1. Make Grocery Lists and Stick to Them
We need food, but unnecessary items we throw in our cart on impulse can really add up. Be conscientious of this before you head to the supermarket. Make a list and stick to it. You’ll find it’s easier to live within your budget if you stop the splurges.
2. Waste Not, Want Not
Conserve the things you do have by not buying more until you’re all out. This is especially important for food, and it also forces you to be more creative as well as mindful of what you’re spending.
3. Keep Notes on Everything You Buy
Get a notebook and keep tabs on every single thing you buy, right down to a stick of gum. Review it after 2 weeks to see what you’re wasting money on and change those habits.
4. Use Apps to Track Your Spending
Let your technology work for you! There are a number of apps out there that are free and can help you see where your money is going, allowing for you to make adjustments to your spending habits with ease.
5. Hide Your Credit Cards
Leave your credit cards at home for daily adventures. You’ll be unable to splurge recklessly on random coffees or that $50 shirt you don’t need if you can’t pay for it.
6. Designate a Weekly Allowance
Financial experts say that you should only carry cash for spending so you’re less likely to buy things you don’t need using credit or debit cards. Take out a certain amount of cash for the week and learn how to make it last. When that money runs out, there’s no more spending for you until next week.
7. Choose Second-Hand Items Instead
Do you really have the urge to splurge? Go to a thrift store instead. You’ll find some great clothes, books, shoes, bags, and things for your home for so little that you’ll kick yourself for ever paying full price. In particular, children’s books are an amazing find in second-hand shops because they are usually less than $1!
8. Pack Your Own Lunch and Coffee
If you work in an office and you buy a coffee on your way to work every day and go out to lunch too, think of how much you’re spending. Your large coffee can be around $5 per day while you may spend $10 on the low-end for lunch every day. That’s $15 a day, or $300 a month! Imagine what you can use that money for instead if you just saved it.
Stick to your budget and you’ll find that the things you need to afford and the savings you want to attain will all be within your reach.