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?Get Control of Your Spending Habits

02.12.2009 · Posted in Finance Articles

No one wants to go into debt. We try to avoid it if we can, but we fall into the traps of credit cards and delayed payment specials so easily. Curbing our spending requires discipline and an honest effort. nnAs consumers, we have to learn to live within our means. This is more than having enough money in a paycheck to pay our bills. Financial security is having something in a savings account and money left over from our paychecks to use in an emergency if we need it. nnSince there are so many things that we cannot control we have to take control where possible. There is no way that we can anticipate certain medical expenses, home or car repairs, and other mishaps that we might face. But we can control our spending habits and make an effort to spend less and save more. nnA good budget is the only way to start and it should be on paper. It can be difficult to begin to budget your money if you are not accustomed to doing so. But the rewards are well worth the effort. It is just going to require commitment and self control. nnMake your budget a topic of conversation with a close friend or family member. This will create some positive peer pressure to stick with the budget you have set for yourself. Your budget will be of no benefit to you if you don’t follow it. nnStart your budget planning by trying to give up one spending habit that might save you a bit of money each month. ??” For example, eating out. Few people realize just how much they spend on food each week in addition to their grocery bill. Make a commitment to yourself to make that adjustment in your spending habits. nnMaking this adjustment will require some effort. It will mean adjustments in your time management as well so that you have time to prepare meals rather than go out to eat. So make a schedule for preparing breakfast, lunch and dinner and be determined to stick with it. Get other family members involved and help each other remember to take something out for dinner or prepare lunches for the day. nnAvoid making unnecessary purchases. We can easily end up spending money on things that we don’t need or maybe that we already have because we have the mentality that if a thought pops in our mind to buy something we just run out and buy it. Change your way of thinking. Stop and give some thought before making any purchase, even the smaller ones.

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