How to control monthly Spending

Are you one amongst those who fall short of money just before the month ends? Are you the one among many who finds its difficulty to control your spending? Life drags you to a monotony when one fails to make ends meet. It seams as if whatever you earn, how many ever promotions you get at the work front, money always falls short. Facts says we earn better than the previous generations, live with more facilities, more comforts yet more stressed than our previous generations. Have you tried to discover where exactly one goes wrong while making an unnecessary expense, how and why we fall prey to exuberant expenses. If you are thinking how to control monthly spending . I am sure you must have thought over many ideas, but the magic in controlling monthly spending lies within us itself.

Have you tried to implement the following:

1. Pen up all your monthly expenses right from rent, taxes, education bills, food, utility bills, Credit card minimum payment, memberships, gasoline, transportation, insurances, saving and miscellaneous spending.

2. Pen up in red all you miscellaneous expenses which could have been avoided.

3. Find out if you are saving any part of your earning . Check if you can save at least 10% of your earnings.

4. Avoid all expenses that’s being spent, but not used efficiently, example a magazine or newspaper subscription could be avoided if you are not reading them regularly. Cancellation of many online subscriptions which you don’t use most of the time.

5. Note down you weaknesses when, how and why you end up spending. Always remember to ask yourself if the money spent is really worth spending.

6. Find out if you are simply paying high interests on loans. Find out if consolidating loans can save you a few bucks.

7. Discover new ways for saving fuel during transport. Use a public transport or opt for car pooling. Regularly fill air in the types of vehicles you use.

8. Ways to save and efficiently use electricity and water can help you save a lot of money annually. Using of LED and CLF lights saves energy, Turn off switches and plug points that are not in use. Repairing broken or leaking taps at the earliest, use water without unnecessarily wasting.

9. While choosing insurances Consider life term insurance which will help you pay lesser premium then others.

10. Control on Phone bills with help you to control monthly spending.

11. If you find yourself one among those who spend a lot on clothes and personal grooming. Consider utilizing your wardrobe with fewer and good quality clothes. Reduce your expenses to half of what you usually spend. All said but doing has to be set in the mind. Challenge yourself to reduce your expenses and consider giving consistent watch on your spending. This will help you tell others how to control your monthly spending?

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