You know you need to tighten that financial belt, but it can be hard. Here is an easy way to get started on your path to a spending/saving lifestyle that can benefit any budget.
First off, use cash when shopping for ANYTHING! By using cash, you are much more aware of the amount you are actually spending.
- Set your limit before you leave for your shopping trip.
- Only withdraw the amount you’ve planned for.
- It’s worth spending the time to shop around, if you end up spending less.
- If you have a coupon, use it. It will help you stay under budget and get a better quality item.
- Wait! Give yourself a day or two before buying. This helps to avoid “spur of the moment” spending.
- If you have money left over, either put it aside and save it, or apply it towards your next purchase. See below:
You shopped for a new set of dishes. Your budget was $50. You found a set on sale, and had a coupon, and only spent $32.
$50 – $32 = $18 leftover
Budget for new running shoes is $60
You already have $18, so all you need to do is add $42.
If you can, I really suggest saving what you have left after your shopping trips. You will be amazed how quickly it adds up. We have a large vase next to our fireplace, and all leftovers, and change go in there. We like using that as our family fun fund, once every few months.