Isn't it stressful when we spend more than expected, right? especially if we follow a budget, having a smart spending habit is a good way to avoid such situations or events.
1.
Make a realistic budget In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.
2.
Find out what triggers the cost It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.
3.
Break down luxury expenses Try to list the things you have spent and separate the luxury and the things you have spent. It is important that you know what is really needed and the word I deserve it.
4.
Make the 24 hour rule This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.
5.
Set a budget Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.
I hope this somehow helped us and the community here on the forum.
Other source:
https://www.incharge.org/financial-literacy/budgeting-saving/how-to-cut-your-expenses/https://www.mymoneycoach.ca/blog/how-to-stop-spending-money-7-tips.htmlSometimes it can be hard to resist the temptation of buying something out of our budget, especially when it would bring us so much satisfaction. However, we all know that giving in to these temptations can lead to a shortage of funds later on, and it will not give us any good.
As for me, I create a budget plan monthly to avoid over-expenses. First, I list all my expenses, including bills, groceries, and any other costs incurring regularly. Then I also monitor and track my expenses to ensure I stay within budget. I try to avoid impulse purchases and unnecessary expenses by planning ahead and sticking to my budget. Lastly, I consider ways to save money, such as cutting back on dining out or shopping for deals and discounts. I checked it multiple times before buying it if it was worth it and had an important use case. We can really avoid over-expenses and stay on track financially, and we just have to take it with complete discipline and have a stand to stick to the plans.
