L.I.F.E. – LESSONS IN FINANCE for EVERYDAY
10 WAYS TO CURB SPENDING
First and foremost take a look at what you are spending your money on. Identify your top three spending habits. These three habits should be a clear indication in which areas you need to “curb”.
Common areas to curb:
- Entertainment (i.e. restaurants, movies, drinks).
- Clothing (specifically brand names).
- Coffee/lattes.
- Pack a lunch. Eating out five days a week at lunch can add up quickly. Spending $10 – $20 a day adds up to $200 – $400 a month!
- Cabs.
- Transportation (try public transportation or car pooling).
- Beauty products/makeup.
- Gym membership (if you don’t use it).
- Groceries (avoid high-end grocery stores).
- Rent (consider a cheaper place or getting a roommate).
By making a few adjustments or “cut-backs” now – you can save thousands annually. You don’t have to cut out completely – just cut back wisely!