Here’s How to Optimize Your Monthly Spend

by Susan Paige
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If you want to live like a king, then it pays to look after your riches before the bills start piling up. By cutting down your costs you’ll be able to save a lot more money, and you won’t even have to earn any extra. The real plus is that if you then get a raise, you’ll be even better off again! That said, it’s certainly easier said than done so take a look at these handy tips to get the ball rolling…

Watch the small impulse purchases, especially when you’re waiting in line!

If you want to be crowned the King of Kash, then you need to watch the small purchases. These are little impulse buys that cost a few dollars or less. If you queue up in your grocery store, you’ll notice they pile the candies and sodas high. That is because you’re bored and so to give you something to do they offer you the chance to part with a couple of extra dollars.

It may not seem like a lot, but many of us do this a couple of times a day without even thinking about it. Do it all month and before you know it you’ve blown through an extra $200. Cut out the little things and the savings will soon add up!

Budget for the fun things just as you would for your bills

We all love to spend a little more freely on payday, but this impulsivity certainly has its downsides. If you run a steady household budget, then you’ll know that you need to plan for everything, and this means everything. Your rent, your utilities, your car, and the fun things in life. If you love to go on date nights or to go to concerts, then you need to budget for that too.

It may feel like you’re putting a dampener on our free time, but all you’re doing is being responsible. In fact, with a little budgeting, you’ll be able to ensure that you can always afford to attend the best concerts and eat at your favorite restaurants!

Life is uncertain so always leave a little bit of money in reserve

Life is an unpredictable business and there a whole host of reasons people get into debt which is enough to tell you that it pays to plan ahead. If you get to the end of compiling the monthly budget and every dollar is accounted for then something is wrong. Always try and leave something in reserve so that you can save for a rainy day. That doesn’t necessarily mean you have to spend it all on a holiday at the end of the year.

The reserve pot of money will grow into your savings and will allow you to cover things like when your car fails on you. Do it regularly, and before you know it, you’ll have several thousand dollars that you can fall back on. If you need to dip into it from time to time, then it will prevent you from getting into debt unnecessarily!

Follow these three simple tips, and you’ll be able to make your money work for you. At the end of the day, it’s all about reducing your costs and getting into a regular savings habit.


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