This is the ultimate question. I love spending just as much as the next person, people of all ages love spending money and treating themselves. But sometimes too much spending can be very counterproductive in the long run. You need to distinguish between what you want and what you need. Once you do that, it could be much easier for you to handle your finances. Below you will find some beneficial tips that will make you worry less about your spending habits.
It’s ok to ask for help
Everyone’s an expert in spending, but are they an expert in saving? The latter isn’t really true most of the time. With today’s deals everywhere and people’s “wants” outweighing their “needs,” it can be very alluring to go on a spending spree, that’s where most people fall into that trap. If you can’t really figure it out yourself, why not ask someone for tips or even hire a professional to help you with managing your finances with ease. If you live in Australia, you could even find yourself a financial advisor in Geelong to assist you in making the right choices from the comfort of your own home! Online financial planners are the future.
Keep an eye on it
Obviously you need to keep track of your budget, but that can be a hassle and could be complicated for some people. This is where technology steps in, use one of the many free financial apps that could help you have a bird’s eye view on your budget and spending. Whether it’s your credit card report, your financial transactions, or your spending habits. It also helps you with the complicated calculations of your daily budget or monthly. These easy-to-use tools can help you make smarter budgeting plans and make a difference in your financial decisions.
Have a Piggy bank
Remember when we were kids and we had this little Piggy bank with our coins in it? Well, you could do something similar today. It doesn’t have to be a literal Piggy bank, but saving a small portion of your paycheck every month could help you immensely, even if it is 20% of it. Saving it through a savings account would really give you a new meaning to the term “save it for a rainy day”.
Keep them in the loop
I know some people find it hard to share their spending habits and such, but sharing it with your family can really help you get a clearer picture of things. Whether it’s your wife, husband, mother or father, getting a second opinion on your spending could really make a difference. Sitting down and planning it all together is an easy step to staying out of debt and out of trouble moneywise.
You think I’m playin’?
This can be really helpful for some people and it has worked in the past. A Twitter user posted that she wanted to order a new credit card with Terry Crews’ face on it to encourage her to save money. She tried to get her bank to make the card, but they told her they needed written permission from Mr. Crews himself to use his image. Thankfully, an hour after she contacted Crews on Twitter, he tweeted back saying, “I approve. Signed, Terry Crews.” And just like that, she got her card with his disapproved face on it to prevent her from spending. This is a hilarious yet effective way to save money, if you ask me. It doesn’t have to be Terry Crews, but anything that can just remind you on the spot not to pay for anything you don’t need is helpful.
On the right track
Whether you do it yourself or you asked for help, saving that extra buck can prove quite advantageous in the long run. You could have enough saved for a new car, a new house, your college tuition for your kids and even that special vacation you’ve wanted for a long time. Saving literally saves your life and makes it much better.