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Learning to Spend Less - October 2019
We are planning to go away again, in November, for a couple of weeks. That's nothing new, we have a November trip every year, it has become a tradition. We meet with friends and spend a couple weeks camping, touring, eating, drinking lots of tea and coffee and generally having loads of fun.
These trips are always a wonderful adventure, and make me so glad we live the way we do so we can take time off without stressing our Spending Plan. Of course we haven't always been so smart, it took a disaster to change not just the way we live but our attitude to the way we live. https://www.cheapskatesclub.net/caths-story.html
Before Disaster Struck, I used shopping as an entertainment, just like most of the people we knew did. It was nothing for me to go shopping three, even four days a week and each time I went out I'd spend money. I may not have always buy something expensive but I always bought something. It may have just been morning tea or a book for the boys, but it all added up to a whole lot of money that could have been used to build an emergency fund (which we really, really could have used). Instead it was frittered away on nothing.
When Disaster Struck, I had to learn how to spend less. This is a step that many people have to confront in order to live the Cheapskates way. So many find this tough since they haven’t had to do anything about this. Learning to spend less is difficult until you have too. Unless you put pencil to paper and are determined to make living on less a goal you will struggle. Without determination and a goal to strive for, this won’t work. Make up your mind you are going to spend less and it just happens.
You may only not spend a dollar or two at first, but you've started. The longer you play the game the easier it becomes, until one day you realise that you have all the things you need and most, if not all, of the things you want and yet you are spending less than ever before.
If you really want to spend less I suggest you sit down and take a look at where your money has been going. Write down every single thing you have spent your money on, from fast food restaurants to clothes shopping to grocery shopping. Include your utilities, groceries, haircuts, pharmacy bills, school fees - every single cent you spend. This also includes all the cups of coffee from the coffee shop on the way to work. This is tracking your spending.
Some people find it handy to get a small notebook that they can carry in their purse or pocket and write down every transaction they make, others use an app on their phone or tablet. Make sure you write the date at the beginning of each new day and it is helpful to write which day of the week it is to be able to figure out why you are spending what you are spending. Be sure to write down the bills you pay and whether or not you mailed the bill using a stamp (don’t forget to record the cost), or if you paid for it in person, or if it was direct debit or Bpay.
The reason for writing it all down is to find out where the money is going. Once you find out how many times a week you are actually eating lunch out and how many cups of coffee you are consuming each day, just how much your chocolate addiction is costing you and what you are really paying for parking you’ll quickly figure out where you can cut expenses. Track your spending for at least a month, it gives you a really good record of your spending habits.
When you’ve written all these details down, take a look at what you’re buying. Total up how much you spent on everything. No matter how much you think you spend on "nothing", It will be surprising exactly how much money is spent on non-essential things. This isn’t a tactic to destroy your spirits, but instead an eye-opener so you can begin a plan of action to figure out ways to spend less.
I choose to live the Cheapskates way because of the choices and freedom it gives me, including taking time off to go away with my husband.
You, and only you, control your spending.
And you, and only you, can choose what changes to your spending you make.
It may be as simple as switching to a cash budget or perhaps you'll give yourself a cash allowance each week to spend as you wish and once it's gone, that's it until the next week.
You can choose to spend your money on things that aren't really that important to you or you can choose to ditch them so you have the cash to spend on the things that are.
These trips are always a wonderful adventure, and make me so glad we live the way we do so we can take time off without stressing our Spending Plan. Of course we haven't always been so smart, it took a disaster to change not just the way we live but our attitude to the way we live. https://www.cheapskatesclub.net/caths-story.html
Before Disaster Struck, I used shopping as an entertainment, just like most of the people we knew did. It was nothing for me to go shopping three, even four days a week and each time I went out I'd spend money. I may not have always buy something expensive but I always bought something. It may have just been morning tea or a book for the boys, but it all added up to a whole lot of money that could have been used to build an emergency fund (which we really, really could have used). Instead it was frittered away on nothing.
When Disaster Struck, I had to learn how to spend less. This is a step that many people have to confront in order to live the Cheapskates way. So many find this tough since they haven’t had to do anything about this. Learning to spend less is difficult until you have too. Unless you put pencil to paper and are determined to make living on less a goal you will struggle. Without determination and a goal to strive for, this won’t work. Make up your mind you are going to spend less and it just happens.
You may only not spend a dollar or two at first, but you've started. The longer you play the game the easier it becomes, until one day you realise that you have all the things you need and most, if not all, of the things you want and yet you are spending less than ever before.
If you really want to spend less I suggest you sit down and take a look at where your money has been going. Write down every single thing you have spent your money on, from fast food restaurants to clothes shopping to grocery shopping. Include your utilities, groceries, haircuts, pharmacy bills, school fees - every single cent you spend. This also includes all the cups of coffee from the coffee shop on the way to work. This is tracking your spending.
Some people find it handy to get a small notebook that they can carry in their purse or pocket and write down every transaction they make, others use an app on their phone or tablet. Make sure you write the date at the beginning of each new day and it is helpful to write which day of the week it is to be able to figure out why you are spending what you are spending. Be sure to write down the bills you pay and whether or not you mailed the bill using a stamp (don’t forget to record the cost), or if you paid for it in person, or if it was direct debit or Bpay.
The reason for writing it all down is to find out where the money is going. Once you find out how many times a week you are actually eating lunch out and how many cups of coffee you are consuming each day, just how much your chocolate addiction is costing you and what you are really paying for parking you’ll quickly figure out where you can cut expenses. Track your spending for at least a month, it gives you a really good record of your spending habits.
When you’ve written all these details down, take a look at what you’re buying. Total up how much you spent on everything. No matter how much you think you spend on "nothing", It will be surprising exactly how much money is spent on non-essential things. This isn’t a tactic to destroy your spirits, but instead an eye-opener so you can begin a plan of action to figure out ways to spend less.
I choose to live the Cheapskates way because of the choices and freedom it gives me, including taking time off to go away with my husband.
You, and only you, control your spending.
And you, and only you, can choose what changes to your spending you make.
It may be as simple as switching to a cash budget or perhaps you'll give yourself a cash allowance each week to spend as you wish and once it's gone, that's it until the next week.
You can choose to spend your money on things that aren't really that important to you or you can choose to ditch them so you have the cash to spend on the things that are.
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