Lifestyle

How to Cut Back on the Things You Want to Get What You Really Want

In a world that is full of chaos, the last thing you want to be thinking about is how to cut back on things. If you have the means to live a little more comfortably, then why shouldn’t you get to pay a little extra to have someone else cook your meals for you, or buy that game you’ve been thinking of getting for a while?

You have money, you should spend it, right?

The fact of the matter is that no matter our financial situation, we could all do with saving some extra money to get the things we want in life. How about getting a new car or TV without having to use the finance option to pay for it? Or that cool Palm Angels for men jacket that you’ve been eyeing up when shopping online?

If you don’t find yourself with extra money, or you have too much month at the end of the money, saving might seem a bit daunting.

However, it doesn’t take much to start building up your savings towards the things you want very quickly.

With a few simple changes in routine and rituals added, you’ll soon start to see where you can make some cuts. Your savings pile towards getting the things you want will grow in no time.

Here are some of the ways in which you can do that.

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Know What You’re Spending and Where 

The first step to money management starts from knowing how your money is being spent, and how much of your money goes to what.

By creating a budget you’re able to predict how much of your money can go into savings after you have covered all of your outgoing costs.

If you’re not used to working to a particular budget, then you are likely to fall into the trap of careless spending. Careless spending could potentially lead to being left with no money, or worse, spending more than you have, two weeks before your next paycheck.

A simple way of budgeting is taking your monthly income (after tax). Then calculating your monthly outgoings such as rent/mortgage, utility bills, insurance, gas, and food costs. You should also set aside money for incidental spending such as gifts for a birthday you forgot about. Then, whatever you have left can be split between your savings and towards the things you want.

Whatever is leftover at the end of the month can then go into savings as well.

When you plan your finances carefully, you are less likely to find yourself with nasty surprises when it comes to your spending.

Cut Down on Some Luxuries 

Let’s get right to it, your cutting down on luxuries could mean getting rid of your cable subscription.
You have access to thousands of movies and TV series on a selection of streaming services, so why pay all that extra cash for a  load of channels you never watch? Cutting cable alone can save you around $60 a month for a start!

You may also need to pull in the reigns when it comes to eating out or getting food delivered. This doesn’t mean stopping altogether, because even the most keen cook doesn’t always feel like cooking all the time. However, when you see how much money you could save by eating at home, you may be tempted to throw in the towel when it comes to spending your money on food you didn’t cook.

While you’re at the store, think about using the store branded stuff over those more well-known brands. Plan your meals ahead and then you’re not just buying food for the sake of having it in your cupboards. Use your meal plan to write your grocery shopping list which will help you to avoid overspending.

If you just can’t resist overspending in store, consider using a grocery delivery service or drive and collect.

Get Yourself a Bit on the Side 

You can save more money if more money comes in. Sounds logical, right?
If asking your boss for a raise or to increase your hours isn’t possible, consider getting yourself a side hustle.

That doesn’t mean having to get another full-time job on top of the one you have, but it could be an extra couple of hours work during the week or at weekends. This could look like working in a bar, creating online content, or buying and selling goods online.

Saving money doesn’t have to be the daunting task you may have believed it is. Make a few changes here and there, and you’ll reach your financial goals in no time!

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