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Saving Money - Knowing Your Habits

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Ruth Brown
Ruth Brown

Ever heard the saying, “Watch your pennies and the pounds will take care of themselves.”?  Most of us fritter away our money in many different places – it doesn’t go in large lump sums (although it can) - it disappears quietly with that $5 cup of coffee on the way to work, a snack from the vending machine, a magazine that caught your eye.  They’re all just a couple of bucks – but when put together at the end of the week, they begin to add up to some sizable spending.

As the famous Dr Phil always says, “you can’t change what you don’t acknowledge.”  So the first step to changing your spending habits is knowing what they are in the first place!  Bring your unconscious spending (those few dollars here and there) into your conscious mind and take a good hard look.Pile of Coins

It sounds so simple – but so many people start out wanting to save without knowing where their money is going in the first place.  (And just as many don’t actually take the time to sit and write out a budget.)

The first step in changing your habits – is KNOWING them. 
   So write them down.

This is easy to say of course, but it’s even easier to forget!  So put your technology to work.

  • Set a reminder on your computer for when you get to work each morning – you can then make a note of anything you have spent between home and your job.
  • Set a reminder for after lunch.
  • Set a reminder on your phone for when you get home.
  • Empty your purse or wallet each day of all receipts.
  • Record your spending on your mobile (most have a memo feature).

Do this for a week, and you will soon see where you hard-earned cash is disappearing to.  Just that simple act of awareness can go along way to curbing your spending and keeping more dollars in your pocket.  Now just imagine what you can do if you sit down a write out a budget!

How to save money and live more frugally

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