How To Spend Less And Save More Without Being Cheap

The first piece of advice often given to people facing financial difficulties or those trying to get out of debt is to spend less and save more.

This usually conjures up images of doing all sorts of menial activities they believe to be cheap, and therefore sabotage any efforts that could actually improve their financial health.

This article looks at three ways in which you can spend less and save more without being cheap.

1. Spend your money carefully

Most of us are conditioned to spend money more easily than saving it.

You cannot save money and live debt free if all you do is spend money. A good way to start being financially responsible is to spend your money carefully.

Careful spending is more about understanding comparative pricing than it is about restricting yourself from buying the things you like.

If you are interested in moving beyond the usual paycheck to paycheck living and take your finances to the next level, you need to cautiously rethink your spending decisions.

 2. Do what needs to be done until you have attained your goal

Driving the same vehicle for a decade is sure to attract negative comments from your peers, relatives or friends.

Yet if this is what it takes for you to map out your financial future through investing your money wisely, you will have the last laugh by not having to spend the rest of your life working just to keep up with your bills.

This by far beats trading in your not-so-old vehicle for a new one on a regular basis yet neglecting to repair it due to a shortage of money.

3. Neglect nothing; mountains of debt begin as little mole hills

It is very tempting to get everything you want simply because you can by borrowing money to buy things you cannot afford.

In most cases, the small installment amounts can lure you into taking credit and wasting it on useless stuff.

Do not let small installment amounts fool you.

Most people who are enticed by these small installment amounts end up acquiring more debt; after all, it seems manageable.

How long can you keep going when times are tough?

It all depends on how badly you want the outcome. How we react in the face of adversity defines who we really are.

In many cases, extreme measures may be required depending on how severe your financial situation is, but as soon as it improves significantly, you simply need to make sure that you avoid what you did to get into a financial mess in the first place.

It’s like losing weight.

If you wanted to lose 40 pounds in 3 months by focusing on exercise and diet, once you successfully attain your goal, you may not need to follow the same strict regimen that made you lose those 40 pounds.

You simply have to avoid the routine that made you gain those 40 pounds and adhere to the diet and exercise necessary to maintain your new weight.

If you are not happy with your current financial situation, doing some of these things will always leave you in better shape than doing nothing at all.

You can also click here to download your FREE copy of Money Management Made Easy if you haven’t already done so. This report will show you how to take control of your finances starting today.