Saturday, July 18, 2015

top ways to mind your spending

I remember growing up my parents would always emphasize good manners and how you should treat people with kindness and respect. Today as I was looking at my Mint account I realized that I need to take a similar approach to spending. This is what I was looking at earlier:


Do you see what I see? That black line is my net income and currently its negative!! This is not just bad, its horrible. I can't believe how obvious it is based on this chart that I haven't been respecting my money and am just spending myself into the red. Its also one of the reasons I started this blog. I am working to get this stuff together and I want to give some tips on how to mind your spending. Here are the top 3 ways I will be minding my spending:
  1. Downgrade your living arrangement.
    • I know this seems super simple to some people but recently it just occurred to me that I really don't use any of the amenities I convinced myself I would use when I got my apartment. Quite honestly, I was just lazy and didn't want to deal with moving at all. Due to this laziness though I am spending at least $350 per month more than I should. That is crazy!!!
  2. Cash is king.
    • This one may be different for different people but I find I spend less when I am spending with either my debit card or cash. Cash is the favorite for me though because it can limit those spur of the moment purchases. Again, this may be just me, but how many times have you gone to the mall for one thing and bought other stuff because well hey!, credit card man! This is a silly way to spend money in my mind because my goals are to get out of the rat race and live a life on completely my own agenda. Anyways, cash for me is king. Also, I would try to get rid of all accounts with a card on file, like Amazon, or iTunes. Those things can be killer!
  3. Curb but don't cut the entertainment
    • Ok, this is a tough one because we all want to save but we also want to have a good time.   I love having fun and going to happy hour with friends. There is a limit though. I don't need to be at happy hour every day or even every week. One or two per month is fine. Its a similar thing with dining out. My main reason to dine out is because I love good food and I can't cook good food. To be fair though this is something I can limit as well and I can start cooking at home and not being lazy. Some other things that get me are TV and movies at the theatre. Some movies are just so much better on the big screen and I feel like I need to see them there. I do need to ditch cable though and don't need to be at the theatre 2-3x a week.
So those are the only 3 things I have for now. I am sure you probably have tips of your own as there are loads of ways to save money but these are my big 3 currently. I have actually done the math and by cutting this things I am hoping to increase my savings per month by almost $1000 bucks. That's ridiculous!

I want to hear from you!!!
What ways do you cut cost without sacrificing fun? Are you consistent?



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