Lifestyle

Stop Wasting Money on Dumb Things

May 26 2019 By Sriya

Have you ever felt shortage of money in your life? If so, you have only two options with you. Either you make more money, or you spend very minimal.

Ideally, you should do both in order to make your life balanced. Try being a good budgeter if you want to eliminate bad money habits and frivolous spending in your life.

Just because your favorite store is having a sale doesn’t mean you should stock up on random things you don’t need.

If you don’t go for random sale, “Congrats! You are a responsible adult now.” However, if you do, and are not able to stop wasting money, don’t worry, we have got some amazing tips for you to become a responsible adult.

 

Create a goal

Something you should always know is what you are saving the money for and how desperately you want to save it.

Without having a specific idea about why you want to save it and what for, it might be useless.

Your goals for saving instead of wasting money might be because you are out of money, or want to go on vacation, buy something for yourself or others.

It depends on the person. You will have to create a goal eventually because saving for nothing doesn’t make any sense.

Focus on savings money so that it go towards your needs and wants and also helps in for your emergency situations.

 

Track your expenses

It is very much crucial that you are well aware about wasting money, before you start saving any money.

Saving too much of money without spending it on necessity is also not a very good thing to do.

First you need to keep track of how much money you have, then try to minimize it.

Some people track every single purchase including those occasional ones such as replacing the old stuffs and buying new ones.

Keeping track on your regular expenses will help you a lot to find out on which things you put your money more on and to minimize it.

 

Prioritize expenses

Keeping track on where you are wasting money will give you a clear picture of your expenses.

After doing that, you just need to make a list of those things that are extremely necessary for you and those which you can skip for a while.

For instance, food, internet, gas, rent and utilities are some of the necessities that you cannot like without.

But, random shopping and going to fancy restaurants must not be your priority if you don’t want wasting money.

Trust me, it will help you to visualize that the ratio between the importance of each item and how much you spend on it.

 

Optimize wasting money

Now that you have set your priorities of spending money on certain important things, stop wasting money on stupid things that doesn’t matter to you.

Probably, you want to enjoy your life, go on vacation with your friends and enjoy your life.

But, you need to skip those things for a while if you are going out of money and do not want to do a rigorous spending.

Let’s say you have just learned that you spend $100 on your television bills which you hardly watch.

It represents a pure cost that doesn’t add much to your life and there’s no reason to waste that much.

You could use that money on something that is really necessary to you. You can even reward yourself with something that matters to you without any hard feeling about cutting the cost elsewhere.

 

Make a budget

Planning is a very crucial thing, if you don’t want to waste your money on stupid things. Try allocating your budget for a month and spend accordingly.

It’s a human nature that whenever you get our salary at the end of the month, you feel curious. You want to spend it on food, shopping and going out with your friends on vacation.

That’s not a bad thing to do if you do not have shortage of money. But, if you have shortage of money, it’s a very bad choice.

For not wasting money, you need to make a proper budget for yourself. You need to be calculative no matter what.

But, don’t beat yourself over not sticking to your budget or not moving towards it fast enough.

What matter is that you are able to save at least as much as the previous month by not wasting money.

 

In summary, if you want to become a responsible adult and stop wasting money on stupid things, try these ideas. This will definitely bring certain change on your lifestyle.

So, if you are a person willing to give up excessive spending on stupid things, you should definitely give it a try.


Related Posts