Five Easy Habits to Pick Up to Curb Monthly Spending

Having a budget is a sure way of holding yourself accountable for monthly spending, but if you need a little extra boost, here are five easy ways you can start changing spending right now.

Put Away the Credit Cards

Sure it is easier said than done, but you cannot get ahead and start saving until the charging spree is over.  Keep the credit cards in your wallet or purse and do not use.   It should be kept on you for emergencies, so put all other cards in a safe play at home, away from sight so they will not be used.  Continue to pay down/off the balance each month until you are debt free and stay that way, so you can start to see your savings climb.

Spread Out Bill Payments

Due dates do not fall exactly on payday, so in order to avoid not having enough left over from bi-weekly checks, spread out bill payments equally from each paycheck, that way you can have the same amount left over each time, allowing yourself a consistent spending and savings plan.

Direct Depot to a Savings Account

If you are left to manually decide what to send to a savings account there will never be anything left over because there is always something more fun you would like to buy, so avoid temptation and have a set amount direct deposited to a savings account each paycheck.  Sure you can still move money around on an online account, but once you start seeing the amount rise each month, hopefully you can sit back and watch your balance grow.

Use Cash Instead of Debit

Sure you have put away the credit card, which is great by the way, but using a debit card still may not curb spending, so try only taking out a set amount to spend each month in cash, and maybe the physical handing of the money over during the transaction will reduce impulse purchases and buy only necessary items.  If anything, it will make you think if you need it or not.

Less is more

While it may be common sense to buy less items through the month, enjoying a more minimal lifestyle will help you appreciate the things you have, and look forward to future events.  If you go out to eat three times a week you will not look forward to it as if you went once a month.

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  1. Money is power but love is the evil that control it.

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