Are you wasteful You don’t know how to manage your money and you end up spending it on anything even if you don’t need it? If the answers to both questions are yes, pay attention. On this occasion, we give you the keys that will help you to manage your income much better, to stop spending meaningless and, therefore, to be able to save a little more. If you want to know how to stop spending money on unnecessary things, pay attention to the following tips.
How to stop spending money on unnecessary things?
To manage your income better and avoid spending money without need, it is important that you previously evaluate your expenses. What do you usually spend money on? That is the main question you must answer. Hobbies, activities, clothing or other items may be primarily responsible for unnecessary spending. The objective is to check if you are allocating too much money to discretionary expenses. It is for those that are not fixed such as rent or basic services that are the same month to month.
To evaluate your expenses, you must carry out the following tasks:
- Check your expenses for the last three months, both of the bank card and the cash spent.
- Find out what% these expenses represent by dividing them into fixed and discretionary.
- Save all receipts to keep track of what you spend daily, so quarterly registration will be much easier for you.
- If you need it, you can download the Fintonic application, to plan your budgets and evaluate your expenses.
The goal is to answer questions like: do I spend more than I earn? In a few days, I spend all the income? Is it hard for me to make ends meet? These are some keys that will make you reflect on what you are spending and see what the amount of money you spend on unnecessary expenses is.
Tricks to save money day by day
Once you have evaluated your expenses in the last three months and know how much money you spend on unnecessary expenses, it is time to change your habits to avoid spending your nonsense income.
To do this, we propose to create a budget, which you must follow to the letter. To generate it, you must determine what your fixed expenses are (rent and basic services, transportation, food, health, miscellaneous expenses such as having a pet or going out to dinner once a month). So, as not to spend more money than you do not have.
Another thing you should keep in mind is to set goals when shopping. It is very easy to spend meaningless when you make the purchase or go out to buy the jeans you need. The important thing is not to spend too much, so check what you need, make a list and stick to it, especially in food. As for clothes or other vices, you must control your impulses.
And precisely, not being carried away when buying is another of the habits that you must redirect. Try to resist temptation and ask yourself two basic things: “Do I need it? “And” is it within my budget? “If the answer is no, stay away from what you were going to buy and so you can save that money for something you need.
Do you eat every day out? Reduce your expenses by preparing food and taking it to work. Although they seem insignificant expenses are the most noticeable. As well as coffee, tobacco and other vices.
Credit cards … NO! They can be dangerous if you are not able to manage your money, so we advise against it. It is best to opt for debit cards, which discount the money spent at the moment. With the credit ones, it will happen that you will spend what you do not have, but they will deduct it the following month, something that can be dangerous and that can lead you to generate great debt problems.
How to stop being wasteful
Although you must try to change your habits and reduce your unnecessary expenses for yourself, sometimes the lack of control needs an external agent that can reorder your accounts and ideas. However, the first thing you should do is be aware that you are a compulsive buyer who spends more than he has without being able to avoid it.
Compulsive purchases can cause serious problems, such as anxiety, depression or loneliness and often occur, also, within these contexts. Here, deal with a therapist, since compulsive shopping is often considered an addiction. The same goes for gambling addiction or gambling; another agent that can cause wasted money. For all these cases, doing therapy will help you get healthy alternatives that will help you deal with the different emotional problems that lead to unnecessary spending of money. Ask for help!