It's all good and well starting your journey to saving more money or paying off your debt but if you want to hit your goals and really make a difference to your life you have to stick with it consistently. If you are saving for just a little while and then end up going on a crazy shopping spree, your savings will dwindle faster than they build up. Here are some tips on how to stay consistent with your finances.
About 2 years ago I would have described myself as a serial shopper. I was terrible with my money and would spend almost every penny on makeup and other things I just did not need. Now, however, I have turned my finances around and after paying off the majority of my debt and actually having a good chunk of savings in my account I thought I would share the compromises I make when purchasing new products, which is a lot more few and far between now.
Today, I’m going to share the step by step method that helped my husband and I stop overspending and the one hack that’s made all the difference! If you want to meet your financial goals, awareness of your current spending habits is vital. To prevent this from happening again, I created an action plan that has helped us stick to our budget. Below, I’m sharing the 7 steps you can take to finally stop overspending:
Finally, Spring is here which means brighter skies, warmer weather, and bigger smiles. Plus Summer is right around the corner too so even better. I like to think in advance of what I want to do in the nice weather as I like to make the most of it every day. I hope this list inspires you to get outside and think about what to do this spring and summer. Plus most of these are completely free so you have no excuse.
My other half and I's number one goal at the moment is to buy a house. We are working more than ever and scrimping and saving so that we can save as much money as possible to reach our dream of owning our own home. Now we are realistic about this endeavor. We know that if we stop sending any money at all and save absolutely everything we will hit a burn out and probably end up splurging. So we still give ourselves treats and an allowance each week so that we can still live our lives. Here are some of the things that we still treat ourselves to whilst saving as much as we can.
We all love online shopping and if you are anything like me you also love to save as much money as possible. I am not a big spender by any means. I give myself a small budget each month to treat myself with. I like to stretch this budget as far as it will go and to make the most of it so when I shop online I will never pay full price or delivery. So here are a few ways that I save money whilst online shopping.
I haven't always had a good credit score, I used to be terrible with money. But for the past 6 months, it has consistently stayed at 999 following a slow increase over the last couple of years. At first I thought it was a mistake because I do have a couple of late payments on my record from 2014 so I updated my details on there, made sure everything was correct and up to date and still it came back with this perfect score. So how did I increase my credit score?
The best way to save money is to simply not spend it. Now that is a whole lot easier said than done I know. Especially if you're not really motivated to make the change in the first place. It took me quite a long time to finally not feel the need to mindlessly spend my money on things that didn't really bring me anything but guilt. So I am going to share with you how I have stopped overspending and started being a lot more sensible with my money.
Hopefully, you already have a budget in place. If you don't, read my blog post How to Create a Budget. This will give you the basics on how to get a budget together so you can start working on your finances.Once you have your budget ready you can then start looking into ways on how you can get some of your outgoings down so that you can put more money into savings or paying off debt.
The first step to understanding your money is to know how much you have. How much you have to spend on your needs such as bills, groceries etc. How much you have to spend on yourself and others and how much you have to save or pay off debt.
Having a budget is the first most important thing to building your relationship with your money.