Topic: How to avoid over expenses and have discipline - page 5. (Read 2501 times)

Just try to spend on what you think it will be enough for you , buying excessive food might make nothing left to be in your sqvings, just buy what will be enough for you then save the remaining. Savings is not easy, it takes much discipline to succeed in saving money, one just needs to be conscious on how money is been spent because if you are carried away you might just end up spending all the money that you should have saved. Discipline and consciousness is the secrete in making successful savings.

I think the easiest way for those of you who want to avoid excessive expenses to save your money in people who can manage your money, for example if your wife is good at managing money then trust her to manage your finances, in my opinion the average woman is good at managing money, if Do not have a wife, so the choice is your mother, it's much better for those of you who cannot control your desires.

With a note that you know they can control finances, if they are the same as you I think you only have to try more to discipline yourself in managing finances.

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.

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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

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.

One major way i cut down my expenses as a single person staying alone is by purchasing enough foodstuffs and provisions at home, that way i always have food to cook and it saves me the stress of buying already made food from outside which is obviously more expensive than cooking at home.

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.

Worse things like this can happen if you failed to balance your budget, overspending your money can lead you to a certain thing that you will regret after, keep yourself from what you need and not with what you want.

A basic principle that will allow you to adjust to the budget that you can have in a daily or up to monthly
expenses. With good money management, there's a chance that you may be able to save and after that, have
a good investment to add up with your savings.

If we do not have a list of monthly expenses then it will not be possible to block our unnecessary expenses every month. Spending unnecessarily is a big problem for a middle class family. We have to spend according to our income. It's not like living a life of luxury all the time. When you are in a bit of a financial bind, you must be calculating. In many cases, it is seen that in addition to managing the family, he spends some more unnecessarily, among his unnecessary expenses may be his habit of taking soft drinks or alcohol or eating in restaurants, but these are great means of spending money unnecessarily, we must avoid these things. If we have a habit of over shopping, we need to control this habit to save our money.

Dont let yourself be ending up on sleeping on the streets just because of the wrong decision you had made. People do really make out learnings on the time that they would be experiencing unfortunate events
or those devastating moments on their lives. If they wont really be changing up their behavior then this would really be ending up on a lifetime regret and dont let
these things happen into you.

Buy what you need and always check your budget before spending. It's best to work on it to make sure that you will not be short in your
next month's budget, over spending not just affecting your budget in that month, but also in the corresponding month.

Better to assess your money movement, there's always an issue if you don't check your capabilities
and just throwing your money when you receive your paycheck.

Just try to spend on what you think it will be enough for you , buying excessive food might make nothing left to be in your sqvings, just buy what will be enough for you then save the remaining. Savings is not easy, it takes much discipline to succeed in saving money, one just needs to be conscious on how money is been spent because if you are carried away you might just end up spending all the money that you should have saved. Discipline and consciousness is the secrete in making successful savings.

Just try to spend on what you think it will be enough for you , buying excessive food might make nothing left to be in your sqvings, just buy what will be enough for you then save the remaining. Savings is not easy, it takes much discipline to succeed in saving money, one just needs to be conscious on how money is been spent because if you are carried away you might just end up spending all the money that you should have saved. Discipline and consciousness is the secrete in making successful savings.

Just try to spend on what you think it will be enough for you , buying excessive food might make nothing left to be in your sqvings, just buy what will be enough for you then save the remaining. Savings is not easy, it takes much discipline to succeed in saving money, one just needs to be conscious on how money is been spent because if you are carried away you might just end up spending all the money that you should have saved. Discipline and consciousness is the secrete in making successful savings.

Agree to this, instead of thinking ahead where finding how money to work for them, they will surely try things that they never experienced before,

consuming money and not thinking that chances to spend it all and waste it to something that's not important will take place, either they don't have that knowledge or they choose to consume the money in a luxury way that they never have before.

Thinking ahead of time is very crucial in limiting your expenses, making sure to find business or investment or continue
to stay living the way you used to have will prevent you from overspending your money.

For me consistency is my problem,
Yup I know why and where my money is draining or why I am having trouble saving up.
I could budget when I needed but when I have my salary or have my money on my hand I tend to spend more than I needed.
Don't get me wrong I am not addicted to anything or have some vices, it is just that I tend to buy more foods than what I really needed.
For example if I know that I have a tight budget till my next pay day or salary I would buy some food and cook it for my self to lessen the expenses and I would choose the cheapest frozen or process food, but when I have money I tend to order up and buy the foods and buy whatever I want to eat without hesitation or looking at it's price.

Investing as a way to protect asset values from inflation, saving money in the bank is not the best choice in the face of uncertain economic conditions that are currently collapsing. You need to ensure that you are always disciplined in spending too much money, many people are smart at making money but don't know how to save it safely and are immune to inflation.
Investing is one of the best ways to protect value, buying land, gold and houses might be possible to keep the amount of money growing. Bitcoin investors will never miss this moment to collect some bitcoins while the price is trading at a cheap price, they will make multiple profits when the price rises again.

Yes, that's right, don't be fooled by today's financial system. "Inflation is man-made," so with current technological developments, we must be able to learn more deeply about the world's financial system. I just found out after being on this forum that to fight inflation, investment is the right choice.

It has been proven a lot that if we save in the bank the value will definitely decrease, and when we invest, for example in buying land, in just two years the price has increased by 15%. However, it remains the main choice for all of us to invest in Bitcoin for a better future. So one way to avoid overspending is investing.