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How to Stop Spending and Start Saving?

By SiliconIndia   |   Wednesday, August 31, 2011
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Bangalore: By the end of the month most of us are barely left with sufficient cash. We keep wondering where the money goes? Many people have tried very hard to budget and save money but very few of them have succeeded, this is due to their spending habits. By the time you sit to track your expenses and find out where you spent your money on, it is all gone. Only when we run out of money we realize we were spending money too fast. No matter how much you earn if you are a spendthrift then you will not save much money. If you really want to save money and make your financial plans come true then you have to stop spending money. Don't Shop For Fun
How to Stop Spending and Start Saving?
Before going shopping, make a list of what you need, and stick to it. Don't put anything into that cart unless it is on the list. Prioritize your needs and shop accordingly. If it is groceries buy in bulk and hit the stores during sales. Use coupons that will save a chunk of your amount. If you find yourself spending too much on shopping, make it harder for yourself to shop! Unsubscribe from all magazines and email lists you're on. Wait at least a day before you buy expensive, impulsive purchases. Most likely you will find it is not worth a second trip out. Avoid revolving around shopping centers with your friends. Avoid using shopping as a way to wind down from a busy work week or just to chill. Rushing around a shopping centre with hundreds of other people is not really that relaxing.

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