When the financial situation is critical, many people decide to take a radical attitude and restrict any and all expenses. Drastic measures are sometimes necessary, but restraint is not always the best way to save money.
Generalized spending cuts work only for short periods of time, to solve an urgent and punctual need – like covering a gap in the account, for example. In the long run, they are not sustainable. Check out tips to save without having to spend your life going through constraints:
Take the reins of your life
Instead of going for full and complete restraint, reflection is needed. Always being in the red means you do not care as much about yourself as you should. The choices you make by spending, saving, and borrowing define who you are and how you see yourself: a person living within your means or beyond. When you recognize this, you take the first step toward healthy financial life by opting for new habits, seeing consumption differently and spending less.
Write down everything you spend
Use the notebook or write down everything you buy – from big expenses to a little ball in the bakery. This method has the most immediate effect: from the time you write down everything you spend on food, for example, you naturally start saving money at this point, avoiding snacking and taking food from home.
Eliminate unnecessary expenses
At this point, the restriction falls like a glove: analyze the daily expenses that are not absolutely necessary but rather pure waste of money and cut them at once. Pay double parking because you’re always late to get the car? Schedule yourself to never again waste time and spend your precious money in a silly way. Monthly pay a gym that never goes? Cut without mercy or pity. Conscious choices are the key to financial organization.
Establish an achievable spending plan
Be realistic: include monthly expenses that can not be paid, as well as other leisure expenses, gifts for the birthday friend and others. Categorize everything, add up the values see how much money you can spend to the end of the month. Stimulate one’s limit for your spending and remainder to be spared. Having self-control and common sense is key to building possible spending and saving goals.
Restrict no, reduce yes
Instead of simply cutting off all the pleasures of your life, try to reduce them. You do not have to stop eating out to save money. You can book the program for a special date which, in addition, will make you appreciate the moment more.
Not everything that is good is expensive
When you feel depressed about not being able to spend as much money as you would like, remember that emotions are not tied to what you can buy, but what you can live. Read a book, go to the beach or a park, call friends to have a chat in your house. Instead of restraining yourself, just live.
In order to have a balanced financial life one must not restrict but reduce expenses. Make conscious choices and do not give up on what you like, but have good judgment and respect its limitations.