9 Ways to Stop Your Spending Habit

Ways to Stop Your Spending Habit

A lot of people find themselves living paycheck to paycheck. Most people have become more demanding than ever before. We want more clothes, more outings and more luxurious items in our homes. Some of us may be able to spend on all these things but a lot of people find it difficult to do the same. So, it is important to manage the money that you earn, so that you are able to save some of it for future. Here are some tips on how to stop your spending habits.

1. Write down the items which don’t deserve a part of your salary

Take a pen and a paper, look around and spot things which you don’t use much. You must write down each and every thing you don’t use anymore. We all buy some things which are not really necessary for us or for our homes. You won’t be able to stop the leaking unless you know where the holes are. This step will help you realize if you have ever wasted your hard earned money.

2. Maintain a diary of weekly expenditure

People usually maintain a record of their monthly expenditure but you must keep a record of your weekly expenditure. Start making a list of things you buy every week. Note down the date, the amount of money you spent and where you spent it. Don’t forget to include the bills you pay. You must include your cell phone bill, electricity bill, water bill and other bills in your list. You can take a look at this list once the week is over. Now, multiply the amount of money spent in one week with four because a month has four weeks. Some people may get shocked after finding out the amount of money they spend in a month on junk food they bring home every week.

3. Start cooking regularly at home

Cook three meals for your family every single day. Encourage your family members to have home cooked meals all day instead of buying them from outside. Make your morning coffee at home. This will not only help you save money but it will also help you make healthier food choices for your family.

4. Drive under the speed limit

This step will help you save money and to make a huge difference to the fuel economy. Life is busy and you too may have a hectic schedule like many others but this is not a good enough reason for driving fast. Driving within the speed limit helps your car burn much less fuel. So, you must drive within the speed limit to avoid accidents, to save money and to contribute in saving fuel for the next generation.

5. Maintain your vehicle

A lot of people try to save money by avoiding the maintenance sessions of their vehicles but little do they know that this will make them spend more than they should. If you don’t maintain your vehicle, it may consume more fuel. So, buy an air filter and take your vehicle to the maintenance centers after every few months. You can also ask your vehicle’s dealer to help you decide the time interval after which the vehicle must be taken to the maintenance center.

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