8 easy steps to avoid unnecessary spends

1. We waste a lot of money when we don’t track our spending

Unfortunately we can’t go back in time and un-spend all of the money that we wasted in the last few months, so we just have to take this lesson, accept it, and do better going forward.

2. Eating out once a week or more. You can definitely do it cheaper

Eating out is definitely a guilty pleasure. You may like trying new restaurants and visiting favorites too.  It’s not something you must cut out entirely but to stay under budget, you can focus on eating out during happy hour so you get more bang for our buck, and if you want to go somewhere more expensive one week, reduce your spends for the other weeks that month to balance it out.

3. Beware of little expenses; A small leak will sink a great ship

Just think about it for a minute, and I’m sure you’ll realize just how true this is when it comes to spending and saving. It really represents how seemingly insignificant expenses can really derail your ability to save long term. Those sneaky little things that you buy but don’t really need, like daily Starbucks or lunch at work.

4. Spending more doesn’t make us happier

You may love researching and shopping for new stuff. It makes you feel good for a little while (a feeling that is usually followed by buyers remorse and a bit of regret).

When you spend less money you get to spend more quality time together with your partner and loved ones as you won’t go out as often. You can be more mindful of what you’re spending your money on, which leads to re-aligning on your longer-term goals. Not surprisingly, being in sync with your significant other is definitely good for the happiness levels.

As obvious as it sounds, it turns out that happiness is influenced more by the people that you spend time with and the activities that you engage in rather than the stuff that you buy.

5. We really are slaves to instant gratification (but we don’t have to be)

This point kinda ties into step #4. You may notice that as soon as you limited yourself to spending less or no money at all, you desperately want to.

A lot of times you find yourself wanting to buy things that you would normally not even spend money on. They are not things that you really want or have even thought about much before. You only wanted it because you know you can’t have it.

It’s so fascinating how the human brain works when it comes to the thought of deprivation. It really feels like the best way to get excited about something is to tell yourself you can’t have it.

6. Planning ahead makes meal times easy

If you want to save time and money every week, meal planning is the answer. Taking the time to plan your weekly meals ahead of schedule makes mealtimes quick and easy and has the potential to save you hundreds each month.

You can reduce your shopping bill by focusing on using ingredients that you already have at hand. This helps avoid food waste and also means that you spent less on your weekly groceries.

7. Fun activities don’t need to be expensive

For most people, fun activities tend to involve spending money. Depending on what you enjoy doing and how often you do it, these activities can quickly make a big hole in your budget.

Fun activities don’t need to be expensive. In your quest for sensible fun, you can rediscover how exploring the city on foot at the weekends can be so much fun. Uncover some old games that have been sitting around the home and find more time to read a book.

8. Saving money is super satisfying (and having a goal helps)

You may discover that saving money is super satisfying! While it may be a bit of a struggle at the start, soon you’ll be enjoying the challenge of spending less and saving more.

Taking these easy steps towards cutting down your current spends will help you save and budget better. This also gives you more financial freedom to think about acquiring life insurance. 

As with all types of insurance, you should look at a policy that best meets your needs and situation. For a review and quote get in touch with me Anthony Paul, your business consultant.

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