I think the best is to have a better saving plan.. for instance, when you receive some specific amount by end of the month and you have some saving plans and you also distribute the money accordingly it will help you not to randomly spend your money and it reduces you from spending in an unnecessary things just as you had mentioned. When you have a better saving plans and once the money comes you places them at the right place it would help cut down your expenses no matter how hard you have tried to cut down cost you would not still live extravagant life because the money is going where it's properly placed.
I was also facing this heat, when money comes request tends to increase from family members and relatives what to do is place your money where it should be and also do not forget to curved out the charity as that is your spending from anyone that requested out from your monthly plan, you can easily deep hand over there and give to whomever you want in as much as in your charity account.. this charity account may be wallet and bank account but let it be that you don't empty the account or wallet to be able to give to charity. When you put all this plans you would know whether to spend on luxury or not. As a responsible person you don't spend when is not needed because responsibility are tied on you, this is very common with the us in East (Africans).
Topic: How to avoid over expenses and have discipline - page 20. (Read 2495 times)
Making a realistic budget is a great tip. It's really important to understand what's possible to achieve, what's going to be a big strain on one's well-being or physical health to achieve, and what's not realistic at all.
Then as for the second one, there are things that a person should fight, but there are also those that might already be replacing worse tendencies, so perhaps allowing some expenses to counteract those other things can be reasonable and should count as medical expenses, pretty much, because you'd probably need those otherwise.
And sometimes a person isn't prone to luxury, and the opposite of only spending money on the things you really need can lead to a boring life.
Then as for the second one, there are things that a person should fight, but there are also those that might already be replacing worse tendencies, so perhaps allowing some expenses to counteract those other things can be reasonable and should count as medical expenses, pretty much, because you'd probably need those otherwise.
And sometimes a person isn't prone to luxury, and the opposite of only spending money on the things you really need can lead to a boring life.
I tried all of those method few years ago, it worked but only for several weeks, after that the urge to spend money on entertainment and not so productive stuff piled up and finally make me surrender. The only solution I have for now is depositing my money on to term deposit so that I can only withdraw it after certain period of time. I don't know if anyone has the same problem like me, but I never learn how to save money until I can earn my own money, and starting to learn how to save money when I already an adult is not so easy for me.
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.html
Avoiding spending is something that many people really want, but of course this is not an easy thing to do for some people for a variety of reasons, of course, we can't just read it from books, it really takes desire from ourselves and strong determination to be able to do it consistently. I am very interested in how to avoid spending that you have mentioned, this will be very useful for me and I am interested in applying it to myself, of course this will be very useful. 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.html
Not everyone can have a discipline live!
I'm a discipline person and have a strong memory, so I don't have to write down what I do today and in the next day since I remember what I need to do. It's a boring daily life, but I'm happy because everything works like what I expect. However my friend isn't like that, he's not discipline and want something different everyday, but he have a good career, so it's not about discipline.
To avoid over expenses is only one key: frugal living.
Defining any kind of lifestyle for yourself and keeping to it day in and day out still points to discipline, as a matter of fact, having a frugal living in order to avoid over expenses still boils down or consist in discipline. I'm a discipline person and have a strong memory, so I don't have to write down what I do today and in the next day since I remember what I need to do. It's a boring daily life, but I'm happy because everything works like what I expect. However my friend isn't like that, he's not discipline and want something different everyday, but he have a good career, so it's not about discipline.
To avoid over expenses is only one key: frugal living.
For no man can abide by any rule or a pattern of living so long without having self-discipline which drives him to dictate, decide and stand by that which he has chosen to uphold.
A frugal living is all about cutting cost and by cutting cost you're depriving yourself of certain pleasurable services and products which on a norm you ought to lavishly enjoy but it's in the self-discipline in you that you're able to keep to cutting cost keeping to a frugal lifestyle. In conclusion without discipline frugal living is impossible.
I think the most important thing is the fifth point, which is setting a budget, without a clear budget, no matter how big your income will run out, I've had income that I think is big but because I don't have a clear budget, almost every month I run out of money so it's hard to save.
Usually, I make a list of family needs for the week, complete with estimated expenses, to see how much money I have left. I also make an approximate to-do list for the family for the following weeks so I may have some leftover money that I can use to invest more or save the money for sudden needs.
But sometimes it can't go according to plan because we can have sudden plans that need to use money. But that's okay because I've allocated some money for this sudden need so I can fulfill it immediately.
And I have reduced spending money on things I don't need and only use the money for everyday needs. And to reduce boredom, I feel it's better to entertain myself by doing many activities at home or outside the home than going to a cafe.
The more mature we are, we will think maturely too and lower our ego level, more concerned with ourselves and prioritizing family. And that's what happens to people who are already married.
But sometimes it can't go according to plan because we can have sudden plans that need to use money. But that's okay because I've allocated some money for this sudden need so I can fulfill it immediately.
And I have reduced spending money on things I don't need and only use the money for everyday needs. And to reduce boredom, I feel it's better to entertain myself by doing many activities at home or outside the home than going to a cafe.
The more mature we are, we will think maturely too and lower our ego level, more concerned with ourselves and prioritizing family. And that's what happens to people who are already married.
This is a great list and helpful as it is. For me, it's actually easy to set a budget, you just need to have a plan that will help you balance your expenses in connection with your income. On the other hand, what's actually hard is achieving discipline. It is not something that you just happen to learn overnight, because having a discipline within ourselves requires a lot of time to develop. Because even though you set a budget but does not have a discipline at all, then you still cannot avoid overspending. So, better to practice it little by little, day by day, and soon it will just become your habit.
Exactly, is not a matter of setting a budget, you just need to have a source of income to balance your experience, is good to budget before doing something, but how the economy is now in our country, things are getting more expensive, not everything you budget you can offered to buy, he don't mean someone who spends too much has no discipline, i will say that many people who spend money too much know what they are doing. since you will not be saving anytime soon. You must take risks since life is all about taking risks, and you must have enough money to estimate for what you require; people budget if you have enough money to spend.
This might sound strange.... but it works.
Pay with cash! .... The Banks found a way for people to spend money without thinking about it..... they introduced Debit and Credit cards that remove people from actually seeing how much they spend.
People that are using cash, experience first hand that they are using less money... because they can see how it is getting less in their physical wallet... so it is an immediate reminder that their money are running out.
Cash is King .....
Pay with cash! .... The Banks found a way for people to spend money without thinking about it..... they introduced Debit and Credit cards that remove people from actually seeing how much they spend.
People that are using cash, experience first hand that they are using less money... because they can see how it is getting less in their physical wallet... so it is an immediate reminder that their money are running out.
Cash is King .....
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
2. Find out what triggers the cost
3. Break down luxury expenses
4. Make the 24 hour rule
5. Set a budget
I assume it all depends on the daily or monthly income one gets to manage all the expense and income records.1. Make a realistic budget
2. Find out what triggers the cost
3. Break down luxury expenses
4. Make the 24 hour rule
5. Set a budget
All of these concepts will not apply well if one's income is unstable. The logic is how he can avoid excessive spending and try to apply discipline to all that is expected.
I don't mean to argue with the concept that you find from the source, but sometimes a tip that is made must do research on all people with their economic level.
For me, these tips apply to people with middle and upper economic class and the authors of these tips rarely see how they apply to people with lower economic class.
Never mind planning to save and avoid big expenses, sometimes they can't afford to eat 2 times a day.
Yes, it's not applicable to everyone's income I mean it's actually good to set plan for your budget but some people their income its not enough to sustain all their needs. But if it happens to that the lower economic class people gets an increased and doesn't know what to do for their extra money. Then these list would be helpful for them. It's like giving them an idea to how they can manage their money. I actually agree that it would be better to put list not only that middle class above could follow but also for the lower economic class as well. Cause I believe having knowledge on financial could help them to get a better living, if you don't know how to manage it for sure in just a short time your money would be gone.
It all boils down to “don’t buy the shit you don’t really need.” Live a modest life. You don’t really need to drive a big SUV. You don’t need to live in a big house. Sell the excessive luxury items you have and use them to make investments that generate income. That way you can increase your monthly income and when you make enough investments you can live on your passive income freely forever. If you are living from pay check to paycheck you don’t deserve to live in luxury.
This is a great list and helpful as it is. For me, it's actually easy to set a budget, you just need to have a plan that will help you balance your expenses in connection with your income. On the other hand, what's actually hard is achieving discipline. It is not something that you just happen to learn overnight, because having a discipline within ourselves requires a lot of time to develop. Because even though you set a budget but does not have a discipline at all, then you still cannot avoid overspending. So, better to practice it little by little, day by day, and soon it will just become your habit.
It’s not easy for most people these days with the cost of living soaring in recent years but to budget your monthly wage and live comfortably it's important to prioritise your expenses and savings.
Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.
Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.
Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.
Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.
setting limits, allocating is more difficut if your doing it al from one account because those limits are just fictional limits that just involve brain decisions. and most people who have issues budgeting do not make good decisions if all income and all expenditure is done from the same account.. the best way is to actually physically separate the budgets over different accounts. that way people cant be tempted to over spend on wasteful things whilst ignoring the important things..
EG imagine you get min wage ~£$1600 a month knowing (i chose non-particular random numbers)
rent/mortgage is £$900
electric is £$80
gas is $80
water is £$40
put £$1100 into bills account
now you have £$500 to split up for consumables. so set a budget for your groceries, kids school clothing and etc
and put that into another account. and that accounts card is the only card you use when you go to the grocery/clothing store
and then whats left is the waste money to do with as you please.
once you have this set up. then you can find ways to modify your expenditure or income to compensate your needs more wisely
- These are good things you said, I like the 500£ you said and the last thing you said too, though, what Op said is also right, maybe the tips he mentioned could be based on his experience and the sources he put are only for those who want to find other tips, but I'm not sure. It's just seem like that anyway😃
That's why sometimes what I earn here in crypto via trading and campaign is also used to cover my other expenses, because it's also a big deal when I do bitcoin or my crypto to be honest.
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
2. Find out what triggers the cost
3. Break down luxury expenses
4. Make the 24 hour rule
5. Set a budget
I assume it all depends on the daily or monthly income one gets to manage all the expense and income records.1. Make a realistic budget
2. Find out what triggers the cost
3. Break down luxury expenses
4. Make the 24 hour rule
5. Set a budget
All of these concepts will not apply well if one's income is unstable. The logic is how he can avoid excessive spending and try to apply discipline to all that is expected.
I don't mean to argue with the concept that you find from the source, but sometimes a tip that is made must do research on all people with their economic level.
For me, these tips apply to people with middle and upper economic class and the authors of these tips rarely see how they apply to people with lower economic class.
Never mind planning to save and avoid big expenses, sometimes they can't afford to eat 2 times a day.
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.
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.
Set the pattern lifestyle is much more difficult than spending money outside the daily, weekly and monthly income limits. If someone does not have a lifestyle that can be adjusted and cannot manage their financial sources properly, then don't expect them to discipline themselves about financing money out and money in. The fact is that not all reality can be carried out with hope and we often see people fail to manage lifestyles well, finally all problems are left without a solution and there is no resolution formula that is trying to do and continues without a more directed concept of life.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.
Back to each individual and how they can discipline themselves about expenditure, avoid expenses that are not needed and increase all aspects that can produce financial benefits. Making lifestyle is very important and the journey process can change and not the same, but in the end everyone hopes to be able to make financial conditions better and this is where it requires discipline.
It’s not easy for most people these days with the cost of living soaring in recent years but to budget your monthly wage and live comfortably it's important to prioritise your expenses and savings.
When life is more difficult, costs increase while wages do not increase, the more we must take measures to avoid excessive spending and must be disciplined to survive. No matter how difficult it is, we have to do it if we don't want to be eliminated from this world because if we fall into a deadlock, no one will help us. Everyone is in the same situation, so we must save ourselves before we expect others to save us.
But in addition to saving, we should find other sources of income to improve our lives better. We should not be too lazy and only know how to save to cope with the difficulties in life. Because at some point when inflation gets out of control, our savings also become useless.
It’s not easy for most people these days with the cost of living soaring in recent years but to budget your monthly wage and live comfortably it's important to prioritise your expenses and savings.
Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.
Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.
Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.
Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.
setting limits, allocating is more difficut if your doing it al from one account because those limits are just fictional limits that just involve brain decisions. and most people who have issues budgeting do not make good decisions if all income and all expenditure is done from the same account.. the best way is to actually physically separate the budgets over different accounts. that way people cant be tempted to over spend on wasteful things whilst ignoring the important things..
EG imagine you get min wage ~£$1600 a month knowing (i chose non-particular random numbers)
rent/mortgage is £$900
electric is £$80
gas is $80
water is £$40
put £$1100 into bills account
now you have £$500 to split up for consumables. so set a budget for your groceries, kids school clothing and etc
and put that into another account. and that accounts card is the only card you use when you go to the grocery/clothing store
and then whats left is the waste money to do with as you please.
once you have this set up. then you can find ways to modify your expenditure or income to compensate your needs more wisely
The good thing in this life is each person has it's own choice and risk need to be accepted.
Someone is trying to become rich even though he need to sacrifice himself to eat a cheap food, live in a small house, never take a vacation and trying as much as possible to not spend any cent just to save his money.
Someone is only want to become an average by working under someone company, spend some money for self reward, take a vacation once a year, etc.
Someone is don't care with the next generation, he choose to spend all of his hard earned money, living by paycheck to paycheck every month.
And all of them are right in their own perspective.
Someone is trying to become rich even though he need to sacrifice himself to eat a cheap food, live in a small house, never take a vacation and trying as much as possible to not spend any cent just to save his money.
Someone is only want to become an average by working under someone company, spend some money for self reward, take a vacation once a year, etc.
Someone is don't care with the next generation, he choose to spend all of his hard earned money, living by paycheck to paycheck every month.
And all of them are right in their own perspective.
It’s not easy for most people these days with the cost of living soaring in recent years but to budget your monthly wage and live comfortably it's important to prioritise your expenses and savings.
Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.
Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.
Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.
Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.
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