Can you imagine how much money has slipped through your fingers over your entire adulthood? If you are like most people, you probably feel that you have thrown away a lot of money over the years.
Just think of all the crazy things that we’ve fallen for: like spending too much at the drugstore on makeup, on a new expensive shampoo or lotions and creams that promised the look of eternal youth! CAN YOU RELATE?? I can’t count the times I’ve had buyer’s remorse.
If you feel that you’ve been throwing your money away, it’s time to get your spending under control…YOUR control. You have to control your money and not allow IT to control YOU!
8 WAYS TO CUT YOUR SPENDING AND SAVE MONEY:
This is a drastic one, I know, but if the debt is significant enough and you feel that you are living in too much home for the size family you have, it would be smart to downsize to a smaller home.
Not only would you save on mortgage or rent, but you would also save on utilities and home repairs. Something worth considering.
2. Find ways to save money.
Some ways to save money:
Carpool to work, brown-bag your lunch, start meal-planning, use coupons at the store. Walk or use public transportation, eat more meals at home, sell items on Ebay. Find ways to lower your electricity and water bills. Get rid of cable. There are lots of ways to save your cash.
Every little cent adds up!
3. STOP the impulse spending.
Make an agreement with your spouse/significant other to be accountable for your spending and pledge to discuss any large purchases before spending the money.
Having to be acountable to someone else will usually make you think twice about whipping out that debit or credit card.
4. Create a budget ON PAPER and commit to it.
List every single bill that you have to pay every month, and then calculate exactly how much money you bring in each month.
On a budget sheet, write down how much you need to allocate to each bill. As you pay the bills, then enter the exact amount that you spent on each one. Use our free budget printable to get started.
This way you can see how much you need to adjust the budget for the next month. Use our printable budget sheet to help you get this organized.
A budget will help you to make a plan for every single dollar that comes through your checking account.
5. Take a long, hard look at your debt.
The time for denial is over. Make a plan to attack your debt beginning with the lowest amount first.
Pay off the smallest balance first while paying only the minimum payment on all the rest. When you pay off the balance on the first one, add the amount of that payment to the minimum payment on the second one and repeat until the second one is paid off, and so on.
6. Look for other ways to earn money.
Find extra ways to add to your income. Tutor in the evenings, sell items on Ebay, walk neighborhood dogs, sell your crafts. Come up with ideas for increasing the amount of money coming in to your household.
7. Change your mindset about money.
Pay attention to your finances; how much is coming in, how much is going out, and where it is all going. Spend MINDFULLY, not MINDLESSLY.
8. Stay the course.
Stay focused on your financial situation. Set aside time each week to go over your checking account and your budget, making sure that nothing slips through the cracks and that you are sticking to the plan.
YOU CAN DO THIS!
Taking control of your finances will mean sacrifices in many other areas of life, but to get where you want to be, you MUST make changes.
It will make a tremendous difference in your financial life, which, in turn, will positively affect all other areas of your life!
You can do this. You can “fix” whatever it is that is not working for you. Sometimes it feels like you are fighting the battle alone, but there are hundreds of thousands of people who are struggling with money, or with the lack of it, and with the weight of debt. It is a crushing, debilitating feeling.
Remember this: You must have a plan, you must commit to it, and you cannot give up. Stick to it and you will see improvement, a little bit at the time, and keep your eyes on the light at the end of the tunnel.
Grab our free budget printable to help you get started!