One of the best things you can do when you are trying to eliminate debt is to review your spending habits. You may think you are doing everything right but if you look closely there may be lots of places where you are spending unnecessarily. This is not about making a total change to your lifestyle. It is about looking at where and how you spend and making small adjustments. Here is a list of common places where people may be spending unnecessarily. Not all these things will work for you, but read through the list and find ones that may help.
Gym Membership – A gym membership is good as long as you use it regularly. If you aren’t using it, why are you paying for it? There are many ways to get exercise without a gym membership.
Lottery tickets – Sure, it’s fun to think what if. But if you think about it, it’s just a voluntary tax.
Diet Centers / Products – Many people enroll in or subscribe to one of the diet centers. Although there are people who do well with these, most do not. In addition, many of these business also offer (some require) lots of products. Even when it is optional, people often think they need to buy the products in order to lose the weight.
Vitamins – Many vitamins and nutrients are necessary for good health, but you can get most of these through a healthy diet.You only need to buy the ones you can’t get through a good diet.
Compulsive Spending – When you make shopping a leisure activity and when you shop with friends, you tend to spend more. Instead, shop for the things you need when you need them.
Buying Just Because it is a Good Deal or On Sale – Many people like to buy something just because it is a bargain. If you wouldn’t buy it anyway, don’t buy it now.
Using Coupons the Wrong Way – Only use coupons to buy things you were buying anyway or to buy things you use regularly that can be stored without going bad. Otherwise you are spending money to save money on something you just may throw out anyway.
Morning Coffee – Do you really need to buy that expensive coffee?
Buying Lunch – Meeting a friend for lunch is one thing, buying lunch every day is something else. Pack your lunch when you can.
Having all the Cable Channels – These days, there are so many ways to get entertainment and cable companies are typically the most expensive. Investing a monthly subscription for movies is a less expensive way to go.
Times for Grocery Shopping – If you don’t go when you are hungry and leave the kids at home (when possible), you have a better chance of spending less.
Create and Use a Shopping List for Grocery Shopping – Sticking to your shopping list will cut down on impulsive purchases.
…and one quick saving tip:
Dump Spare Change – Every night, put your spare change in container (bucket, jar). It adds up very quickly. Once you have a good amount, take it to the bank for counting.
Have you found ways to spend less? Share them in the comments box, below!
(Photo Credits: http://pixabay.com/users/jarmoluk)