Control your Expenses to Start Saving

[raaman]

The first step to start saving is to control your expenses. If you don't know exactly how much you are spending and on what, it is impossible to boost your savings.

For that reason, it is necessary that you spend at least two or three months writing down absolutely all your expenses in a diary. In case you are tech savvy, you can use an app too.

There are savings applications too to keep track of your expenses automatically. It may appear like a lot of work, and it is. The answer to how to save money is not to apply some magic tricks, it takes effort.

 

[Ithedicious]

Controlling of expenses come with so many things and someone who is ready to cut the rate of spending money extravagantly has to do away with so many things that are likely to make them spend so much money . sometimes we have to also identify the difference between needs and wants because our needs may be quite different from what we want and in most cases we should rather chase what is very important in our daily life and not really what we want to have to feel belong , because most of those things will always make us to lose so much money.

Personally there are so many things I have to put into consideration when thinking of saving money, I have to first of all identified things that I've been consuming my money then from there I can make an arrangement if I am to cut it off completely or to reduced the amount of money I will be spending on it .

If I am to cut it off completely then I will just be discipline and follow up the rules and regulation. But if I am not then I cut off the amount of money I spend on it on monthly or weekly basis.

 

[Abigael]

It truly takes so much effort to start saving. That effort involves controlling your spending urges. If you are someone who spends too much, then you probably have a problem with controlling your urges. I was once this way too. I would do a lot of impulsive shopping and even get into debt just to spend on unnecessary things.

It is until I learnt the art of self discipline that I was able to start spending my money well. I have even improved my saving habits and I don't get into debt much. Self discipline is something so important in saving and spending money well.

You only learn self discipline by practicing it. So you should make it a habit to say no whenever you are tempted to spend money impulsively. Everytime you say no to an urge, you build a muscle in your brain that strengthens self discipline. That gets stronger and stronger and soon you won't be spending carelessly.

In order to say no to an urge, you need to have so much self awareness. Which is something you can train yourself too. Also, you need to budget your money well. Which will help you specify you wants and needs well and keeps you accountable for your spending.

 

[eldavis]

The reasons why most persons are unable to save is cause they find it hard to control how they spend. The habit of saving is something each and everyone of us should have, to be able to do this, mark your expenses and make the needed adjustments.

 

[Kendy]

I agree with you because it is important to curb our expenses in order to have a good saving plan. Any individual who is not able to manage his available funds even when it is little, would not be able to still manage it when it comes in excess. Management of funds does not posit that someone is incapable or living in penury. It is part of disciplinary skills which is needed in all facets of life and most especially when it comes to business. The act of reckless spending and mismanagement of funds has made a lot of people to incur bad debts where they are unable to refund at the stipulated time.


I have seen different cases where people refused to manage the available funds and when it is exhausted, they go around begging and incurring more debts at the end of the day. With the ability to manage the available funds, it will be easier to cultivate a good saving habit. Also, when we reduce our expenses and make use of the scale of preference and also the opportunity cost it is going to help in augmenting our saving skills. All in all, we should try to live within our means of income and not above it.

 

[Richee84]

Savings and expense are two opposite parallel line, for us to have a good savings them we must control our expenses. In order to have a good savings then we must cut down our expenses to the lowest minimum. Things that should be of paramount in our expense are thing that are of the essential need or basic need to use. This basic need should be our primary need and once this primary need have been meet scale of preference should be use to treat our other needs. Those that find it very hard to reduce their unnecessary find it very hard to make or have a good savings. The best way to improve on our savings culture is to cut down all unnecessary spending. It is good to spend for ourselves but at the same time we have to be mindful of what we spend so as not to allow our unnecessary spending to affect our savings. The joy of every savings is that the money been save belong to us at the end of the day. We are only to endure for some few time and after that we get a good result that will be helpful and useful.