Develop New Spending Habits Now!
Sorting out your NEEDS from your WANTS may be a good place to assess your spending habits. Needs are the things you require to live a comfortable and healthy life. Budgeting is a tool that enables you to aim for your Wants while managing the day-to-day Needs without undue stress and worry. Make a list of these Wants - they will become your savings goals. Spend a week or two detailing exactly where your money is being spent - you might be surprised at how much you spend that is not budgeted for. Here are some relatively simple ways to cut down your spending habits: - Take lunch from home at least two or three times a week
instead of buying it. I take my lunch to work pretty much everyday. Assuming that the average lunch is $7.00 per day - that's $35.00 I'm saving each week. That's $140.00 per month! Cut Meal Costs Here- Plan the weeks meals in advance and make a list based on
that plan. Don't go supermarket shopping when you are hungry. - Make your money harder to access. Give yourself a weekly
allowance and leave your credit cards and check book at home when you are not planning to use them. - Although your own vehicle is convenient, you may be able
to make savings on fuel, vehicle wear and tear and parking costs by using public transport and taxis on occasions. - When next tempted by an impulse purchase, walk away and
ask yourself these questions:
Do I really need it? Will I really use it? Will I still like it / want it next month / next year? If I don't buy it now, do I want it so much that I will make a special trip later to come back and buy it?
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