Stop Spending More Than You Make!

 

 

Frugal? Thrifty? Tightwad? Penny Pincher?

Whatever you call it – it means to SAVE part of your hard-earned money. Sounds good, but how?

Being frugal and thrifty in our everyday lives is something we have to learn – it just doesn’t come naturally to most of us.

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Some families can barely afford basic needs (food, clothing, and shelter), but most of the time there are ways to save money on everyday purchases.

First, we need to know where money is being spent now. So start tracking your spending – everything – even the soda on the way home from work. Get an inexpensive notebook and keep up with your spending for at least a month.

Then a decision has to be made to implement the saving ideas.  Spending habits are sometimes hard to change. Start slowly but remain committed to your new thrifty lifestyle.

Spending habits are sometimes hard to change. Start slowly but remain committed to your new thrifty lifestyle. #Budget #SpendingHabits #Thrifty #JanetBPearson Share on X

After tracking your spending and learning to live thriftier, you need to make a budget.

A budget is simply a spending plan. You need to list all your income sources and expenses. Then you will know how much money you will have for the things you need. It also helps you to save for things you want and be able to get them without adding to your credit card debt.

Some of us may have already learned to cut back because of necessity, perhaps from “corporate down-sizing”. For others, having more financial stability and freedom is part of our cure for the harmful stress in our everyday lives.

Remember that to live within your means (or actually below your means) requires that you stop spending more than you make… Keeping up with your spending and allocating money (budgeting) will keep you on track to your financial freedom goal!

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