Being Smart about How You Spend Your Money Could Really Help You

Admit it, one of the reasons why you cannot save more at the end of the month is your inability to let go of the fact that others can spend more without having to think about surviving the month. Your neighbor, for example, could be taking a trip to a tropical island every now and then and they can still afford three more cars to add to their carport. They can even pay for their kids’ private school tuition and can still pay for that golf membership. They can keep their humongous house without having to mind utility bills. See, the grass on other’s yard may look greener than yours but if you live to somebody else’s standards, your pocketbook would get on fire and you are left with nothing else to survive the month. Others have their own way of meeting their needs and wants and so do you. It is way better to stay on track instead of letting yourself get bedazzled by the things you cannot afford at all. If you choose to dedicate a large chunk of your earnings to afford something you should never ever in the first place, chances are your financial stability would absolutely be in peril. There is nothing wrong or harmful in living a frugal life. But it is also not wrong and harmful to save bits by bits for future vacation—provided that you have covered all your bases first and the goal somewhat reasonably makes sense to achieve and in proportion with your earnings. Living the life you can afford is simply more satisfying rather than having to live up to absurd expectations. As stated by, tracking your expenses is the first and most effective step to take if you do want to keep a healthy financial condition.

Limit the frequency at which you go out with your family to a fancy restaurant. Treating your loved ones to fancy dinner once or twice a month is still logical. But if you have to every time you guys want to have dinner, your money could be all gone even way before the end of the month. There is nothing shameful in preparing meals at home. This way, you can control everything yourself and make sure that the dishes you serve your family with are healthier and, obviously, much more affordable. You can even save more on gas money as you do not need to drive out of the house just to grab a bite.

Split your monthly earnings into two. Use one part for buying groceries and paying off bills. The other part should be restricted from any kind of access. This is your saving money, the money that can only be used at times of emergency. You are lucky if nothing emergency run up by you so the money in this account stays intact. In addition, it would not hurt that you take a side job to make up for the things your primary job can’t always cover.