Keeping finances under control when running a household, paying the bills, and watching your spending is never easy. There is no lesson in school for what you should be doing once you get out into the real world and manage your finances, and you won’t realize just how difficult it is until things start running away from you.
I earn a solid salary, more than enough to cover the bills, yet every month, I ended up with almost nothing, living month to month does nothing for your savings account, and when an unexpected spend comes in, it can leave you in a right mess. I have a friend who follows the aussie online casino to get valuable tips for controlling finances.
Tracking Your Monthly Spending
The only way you are going to be able to cut down on how much you spend each month is to have an idea of exactly where you spend your money. The best way that I have found to do this is to use a mobile phone application where you can log in every time you spend money. I recorded every cent that I spent over the month, and then at the ned, I reviewed precisely where and how I had spent my money. I was alarmed at just how much rubbish I had spent my money on, and this was the first place I focussed on cutting back. It became a bit of a fun challenge to see how much I could cut each month, and now I spend far less month on month than ever before.
The Ten Second Rule
This little trick helped me reduce my spending; the basis is that whenever you want to buy something, stop and think for 10 seconds about whether you need the product. This is a super simple trick but one that, if you use it, will see you putting a whole lot of stuff back on the shelves.
Always Make Lists
When it comes time to do the weekly grocery shop or even go out shopping for clothes, always make lists to keep your spending down and avoid buying unnecessary items. Make a list and, more importantly, stick to it.
Make a Savings Goal
Once you ahem worked out where you need to cut your spending, it will be vital that you have a plan for what you will be doing with all that additional cash. The best thing to do is make a savings plan and put away a certain amount each month into a savings account. You should treat this exactly like you would treat paying rent or bills, and after just a few months of doing it, you will see your savings gradually start to grow.