Personal Finances

Discover ways to stretch your dollars. Spend less an get more. Increase your savings and create other sources of income that will give you peace of mind.

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How to Spend Less Money by Laura Ginn

Everyone wants to spend less money so that they can have more left over for fun activities, holidays, and extra comforts around the house. But saving money isn’t always easy, especially in today’s world of rising prices of necessities and commodities.

Many people try to keep their spending within the limits of a fixed budget, yet they often fail. Perhaps they simply don’t earn enough money and they end up spending more money than they bring in each week. Or maybe they make enough money but lack the discipline to cut back on spending because they are too tempted to purchase the products that they think they need or simply think they must have.

Know What You Really Need to Spend Money On

Many times, what you think you need or what you think you absolutely cannot live without turns out to not be a necessity after all. You would be surprised at how quickly you grow accustomed to not having something, such as the biggest cable package or the latest cell phone. Therefore, focus on spending your pay check on what you need, such as covering your home-related bills like gas, electric, groceries, etc.

You can probably wean yourself off of eating at restaurants and you can probably also get yourself to deal with your 2-year-old cell phone rather than purchasing a new one right away. And when it comes to entertainment, you can do little things to cut back on spending, such as waiting until a movie comes out for rent rather than seeing it at the movies.

Avoid Using Your Credit Card

The problem with credit cards is that it can become hard to keep track of your spending, and you can easily end up going over your budget if you always rely on your credit cards to make purchases. Instead, focus on giving yourself a fixed amount of cash for spending each week. Once you run out, you can only use credit cards if it’s absolutely necessary, such as if you need to buy groceries or you need to put more gas in your car to get to work.

Set Up Boundaries for Yourself

If you know you often fall victim to purchasing certain products, such as desserts, shoes, clothes, or other items you can really do without, set some boundaries. For example, don’t allow yourself to spend more than a fixed amount of money on a certain type of item within a specified time period, whether it is a month or a year. So, for example, do not allow yourself to purchase a new pair of shoes if you have already purchased two pairs this year and that is your set limit.

Don’t Be Ashamed to Use Coupons

Coupons are great because they are instant discounts that you can find easily in your local newspaper or online on a variety of websites, including the sites of brands you love. Even large retail stores offer coupons and discounts on your purchases. Take advantage of sales and coupons when you have them.

Laura was doing research on large banks around the world, such as the Royal Bank of Scotland, when she came across a great website called, which not only features information on the banks themselves, but also enables users to compare the deals available.

Article Source: How to Spend Less Money

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