Check out the other posts in this series.
As I’ve mentioned many times before, hubby and I were terrible spenders as newlyweds and it eventually led to our financial distress. After such a difficult year I can definitely say that we’ve learned our lesson!
If you are terrible at spending then this is a post for you! I’m not going to sugar coat it, though. This will take work. A LOT OF WORK! Just commit to getting your spending under control and keep disciplining yourself. If you mess up don’t beat yourself up! Just keep on trying.
Here are things you can do to get your spending under control:
Stop Using Credit Cards
I’m not saying that you should cut your cards up like Dave Ramsey advocates. However, he does have a point that paying with credit cards is a lot easier to do than paying with cash. With cash you visually see the money leaving your hand, but with credit cards you don’t. Unless you’re disciplined enough to keep track of every single penny, don’t use credit cards!
Use The Cash Envelope System
The cash envelope system is what we used for many years, and loved it. It’s a great way to keep track of your money and stay within your budget. Being able to see exactly what you’re spending and giving your precious cash away every time you buy something makes it easier to say no to more. Swiping a card takes that visual effect away and makes it way too simple to spend more money.
Use the Emergency Budgeting System
I can’t say it enough, I love the emergency budgeting system. Not only does it show me exactly where my money is going, but it shows me what bills are coming up so I can calculate how much money I’ll have leftover at the end of the month. This completely eliminates those surprises at the end of the month when you realize you don’t have enough money to pay for your rent or mortgage due at the beginning of the next month.
If you’ve found yourself in a nasty predicament with finances then give these tips a try. It may not be very fun for a while, but it’s better than claiming bankruptcy and losing even more (or everything). Eventually you’ll get used to it and it won’t be so bad anymore. You may actually find that you enjoy it once you’ve gotten the hang of it. I know I do now
What things did you have to do to get your spending under control?
Stay tuned next time when we address the idea of whether you should use or not use credit cards.