Planning Every Day
Before you step out of the house for the day, make a mental list that takes into account everything you need to pay for, no matter how small. The key is to stick to the list as you go through the day. Making a list helps you notice when you are purchasing something that is an convenience item or an impulse buy. If you have planned for it, you are less likely to fall into the trap of suddenly finding yourself fifty bucks or more short at the end of the week.
Budget For Fun
One thing that throws people off when they start to budget is that they do not account for the fact that they need to have fun. They might stay on a very spartan budget for weeks, but then many of them break and have a splurge. In many cases, the splurge is something that is fairly high and extravagant. In many cases, you will do much better if you simply build in an entertainment budget. For example, allow yourself one night out at the bar a week, a movie a month or enough money to cover your gaming habit for a month.
Bring Your Social Life Home
When we go out with our friends, money is usually involved. Going out to eat, to drink and to dance all have attendant costs, and at the end of the day, having friends can feel quite pricey! Take a moment to think about how much money you might save if you brought your friends to your home. Staying in to hang out, to play video games or to watch a rented movie can play a big part in keeping that money in your pocket.
Set Some Goals
It is very easy to say “I want to save money.” We all do it, and then we look down and notice that we have less money than we did before! When this happens, it is because we don’t know what we are saving for. For example, consider how what you want, and put it into concrete terms. What are you saving money for, and how much do you need to save. Saying that you want to save a certain amount of money by a certain date allows you to focus on your goal and to filter out the distractions.
If you want to make sure that you are getting the most out of your money, you do not necessarily need a spreadsheet or fancy tools. Instead, you need to make sure that you are being mindful of where your money does go!
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