Splurging is a sin we all love to indulge in. Be it food, clothes, accessories for ourselves, or our pets, and the expenses don’t bat our eyelids till the savings start to dry. Limiting costs is a task, especially when you live in a corporate world where you don’t realize when the money comes and when it goes.
Struggling to make ends meet and living paycheck to paycheck is a familiar feat for many, especially if you are out there with no family fortune to inherit. So, here are some unnecessarily spending habits that we partake in the day-to-day life that you can avoid to help you remain within your budget.
The Pre-Requisites
Before digging into the actual measure, here are two must-do things on the list.
Track Your Expenses
Tracking where your money goes is essentially the first step towards realizing the need to cut the expense. When you recognize your spending pattern, you can make a better expense chart crossing off things that seem avoidable and toning down the necessity.
Allot Your Budget
Allot for yourself a budget depending on income and your expected expenses for the month. Keep a small sum in the reservoir section to fall back on in case some emergency occurs. You can also plan and cut down expenses in a month or two to save money for a trip in the future.
Here is a list of things that you can strike off your expense list to keep your pockets in check!
Contents
Ditch Cable
It seems to be the most practical option considering the amount of time you spent watching those cable shows! If you are not watching it, there is no use in paying for the subscription, especially when platforms and online streaming are gaining popularity. Another way is to ditch the whole television box itself (though it may seem extreme to some). This way, you’ll cut down screen time and use it to indulge in your long-forgotten hobby or for some family bonding time.
Go Online
It is tough to say, and undoubtedly an e-copy can never replace the feel of the print. But saying goodbye to the newspaper’s print copy and going online to search for the news is also an option for you to consider. You can always read at public libraries or offices. Though you may not enjoy them as you do in the comfort of your homes, the small savings add up a bunch annually.
Plan Your Meals
Planning helps you curb unnecessary spending. Plan what you want to eat for the week and buy groceries accordingly. This minimizes the wastage of food as well as limits your excuses to order in. Moreover, a home-cooked meal is always a healthier and cheaper option than takeout.
Throw Away With A Gym Membership
Do you need to have that gym membership? Well, it does not list under the necessity. End the gym membership and indulge in activities in your home to stay fit. There are tons of activities in the house that will burn the same calories as you do in the gym, just minus the fancy equipment. If you want to build your body, you can also consider having a one-time investment of buying makeshift gym equipment in your homes.
Leash Your Impulsive Buying
Having an allotted budget will help you curb the spending. However, the knees often go weak when offers and sales float around. The best way is to limit the time you spend on these apps. The more you block them out from your eyes, the less you have the urge to splurge.
Find An Alternative For Transportation
Transportation is a necessity that you cannot avoid. But moving to a more sustainable (and cheaper) means is in your hands. Try walking whenever possible. Cycling is another healthier option. But if you need to commute long distances, try carpooling or using public transport as there are no other alternatives.
All The Bling Is Not Necessary
There are more economical choices that give you the same fashion sense, just minus the brand. Switching to buy from smaller service providers will lighten the burden on your pockets and, at the same time, encourage local craftsmanship.
Go Green- Use Reusable Stuff
We generally hoard our houses with many disposable things like cups, plates, etc. Neither buying packaged drinking water hurt us. Wait till you sum up your expense on them.
These are not only hurting your pockets but also the planet. Switch to more sustainable ways, which reduces waste, especially plastics. Carry your water bottles and refill them whenever necessary. Use disposable plates only when needed, not when you are lazy to do the dishes.
Check Your Bank Fees
For all the services it provides your bankrolls out a hefty fee from you. And the sad part is, it often goes unnoticed but adds up to a considerable amount if you calculate annually. A simple way to escape from this is to choose your bank wisely. If you note deduction of large amounts, consider switching to another bank that levies fewer charges.
Limit Your Coffee Expeditions
Now, this is a huge call. Going through the day without your energy boost may seem impossible, but wait till you know how much you can save up.
A Simple Way To Realize When You Are Spending
Carry the cash! It is a simple and effective way to feel the burn every time you have to splurge. Spending online does not pinch much, especially while using your credit cards. When you pay from your pockets, you know when to stop.
Though this is not a pretty feasible method, you can always try it whenever possible.
Conclusion
Savings is a good habit, whether you require it or not. When your savings translates to sustainable living, you are killing two birds in one stone. These tips should help put a little extra cash in your pocket at the end of each month.
