Written by Karen Bryan
There no way you can stop spending money altogether, as you’re going in incur certain living expenses even if you’re into frugal living. However, a lot of non essential spending can be cut. Here at Help Me To Save we don’t advocate a miserly existence, but you need to master your money to ensure that you can save more and spend less.
Take Cash When You Go Shopping
If you only take the maximum amount of cash you have budgeted to spend when you go shopping it’ll be impossible to overspend in the way you can when using a debit or credit cards.
Have a Financial Goal in Mind
If you just say to yourself I must be frugal and save more, there isn’t really much motivation there; whereas if you say I want to retire early, pay off my mortgage in 10 years or buy a new car with cash next year, then you can focus on that desired goal.
Eat or Drink Less When You Go Out
If you don’t want to cut down on the frequency of going out, you could cut down on the number of drinks or number of courses you eat when you go out. For example, if you only eat a main course, with no starter or dessert, you won’t spend so much. Eating and drinking less will also benefit your health.
Ditch the Gym Membership
How often do you go to the gym? Could you get exercise is some other free or cheaper way, e.g. cycling or walking to work, getting a exercise dvd.
Don’t Exchange So Many Presents
I’m not trying to play Scrooge here, but I found that many of the gifts I was buying for and receiving from adult members of family and friends were pretty unimaginative and often left unused. It felt silly to be receiving and giving gifts, many of which would be left sitting at the bottom of drawers. Of course Christmas wouldn’t be the same without presents for the kids, but maybe it’s time for a chat with family and friends about the present exchange. Chances are they’ll be relieved that they don’t have to go around stores wondering what on earth to buy for you.