How to Motivate Yourself to Spend Less

Spending less money is something that can be really helpful to many people for different reasons. It can mean that they will be able to pay off some debts or that they will be able to save more money or even pay off loans or things like that. It can be very worthwhile but in practice it can be very tricky. It is hard to spend less money, because we feel like we deserve to buy things and when we cannot it feels like we are being punished. Therefore, you may need to make sure that you keep motivating yourself so that you find it easier to do. There are things that you can do in order to help with this.

  • Set a firm goal – it is wise to set yourself a firm goal and then it will be much easier to stick to it. This means that you should think hard about how much less you want to spend and note it down. This could be influenced by a certain savings target you have or by calculating how much you think you will be able to reduce your spending by. You can always change this goal if you think that it is either too ambitious or not ambitious enough once you get started with it. However, by looking at your current financial situation you should be able to make a reasonable goal.
  • Make less money available to spend – if there is less money available for you to spend then you will find it easier not to spend so much. In order to do this it is a good idea to move the money into a separate account. So as soon as you get paid then have the money put into a savings account so that you are not tempted to spend it. You will still be able to get it out if you put it in an instant access account and so you will not need to worry about being short of money if you do this.
  • Compare prices – it is wise to compare prices on everything that you buy. This will allow you to not only be aware of what the cost is but also see whether there are cheaper alternatives. This is quite an easy habit to get into/ Even if you only change a few things that you buy, those few dollars that you save could make quite a difference. If you can do this with more expensive things such as insurance or utilities, then you can make more of significant difference but even the small savings will all add up.
  • Keep your goal in mind – it is so important to make sure that you keep thinking about your goal all of the time. This will help you to remember why you need to be careful with your spending. It is a good idea to keep your goal written down as well as the reasons for setting that goal. So, keep a note of the amount that you want to reduce your spending by and why you want to do this. Have this stuck somewhere prominent such as on a mirror and this should enable you to be able to have a constant reminder of why you are doing this. It should enable you to keep a focus and also to feel positively about spending less as you will be able to think about the positive future that you will get as a result of this.
  • Factor in some treats – it may be that you find that reducing your spending is really difficult. This may depend on how much you have to reduce your spending as well as how much spending you normally like to do. It can be wise, to factor in a spending treat every so often. Perhaps leave yourself enough money so that you can buy a few things or withdraw some money from your savings occasionally to do this. This will obviously mean that you will not be saving so much money but it could help you feel like you are not struggling so much and that you are having a reward for all of the hard work that you are putting in with spending less most of the time. 

Once you get into the habit of spending less money it may not feel so difficult. It can take time to get used to doing something a bit different but once you build up a habit of doing then it is easier. If you are comparing prices then you might be able to spend less without even buying very many less things. This might seem like an effort but it can mean that you will be able to feel less restricted in the amount of things that you are buying and this could be a good thing for you.

Ways to Reduce the Costs of your Home

Just having a home will cost us money. When we move in it can just feel like it is the rent or mortgage that we will have to pay, but once we move in the reality of everything else will hit us. There will be all sorts of other things to also pay for such as utilities (if they are not included in the rent), decorating, furnishings, insurance and things like this. These can add up and you may start to find it hard to cope and may even have to borrow money using a payday loan to be able to manage. However, there are things that you can do to reduce the costs.

  • Choose an affordable property – when you are picking a property, whether you are buying or renting, it is wise to make sure that you take all of the costs into consideration. This means that you need to look at how much it will cost you in extras on top of the rent of mortgage. Consider things like utilities, insurance and furnishings. Think about whether these are included in what you are paying or whether you will have to pay them on top. Try to find out how much they will be and then you will be able to calculate whether you will be able to afford them and the rent or mortgage. It will take a bit more investigation and it could take you longer to find a suitable property but it will be worth it, as you will be able to be confident that you will be able to afford it.
  • Compare prices – it is wise to make sure that you compare prices on the things that you are buying. So rather than going with the first insurer or utility company that you come across or using one that you have always used. Compare the prices and you will see that there is quite a big difference between them. It is important to make sure that the one that you choose will provide you with the service that you want and so gives you god value for money. Some extra cheap services will not be as good. However, it is still likely that you will be able to save money and so it is a good idea to do this and check out what the situation is.
  • Reduce electricity use – if you are being billed for electricity then it is wise to try to use as little as you can. Heating and air conditioning tend to be the most expensive things that use it as well as heating water. Think about ways that you can reduce these costs. It might be that you can cope with having the settings a little less extreme so that it is cheaper. It might be that you can make sure that things are switched off when you are not there or at least turned down. You may be able to use some solar chargers or other alternatives to generate some cheaper electricity.
  • Keep furnishings simple – if you do need to buy furnishings or you want to add to what you have with pictures, cushions, ornaments and things then try to keep things classic and simple. Buying too much will be expensive and cause clutter. You could slowly add to what you have and look out for bargain pieces or even second hand items so that you can save money and make your purchases affordable.
  • Do not change with the fashion – If you want to keep up with the latest trends then you will be spending a lot of money regularly as you keep changing things. If you do want to keep changing things then consider buying second hand so it is cheaper, you may still be able to find items in trend if you look in thrift shops. Otherwise buy classic styles rather than trendy ones and there will be no need to keep replacing them.
  • Do not claim on insurance – although insurance is there  to help us to cope with costs that we would not otherwise be able to afford, if we keep making claims on it our premium will go up. This means that if you have contents insurance then not claiming on it could help to keep it cheaper. Obviously, you will need to claim on it if you suffer a loss of all of your possessions but a small thing breaks or gets damaged then it might be cheaper for you to get it repaired or replace it than to claim. You could end up paying for it many times in the increase of premium that you will be paying. So, save your claims for more significant items and keep some money in your savings account to pay for replacing or repairing cheaper items.