5 Ways To Decrease Your Needless Spending

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It’s a New Year and with the coming of the New Year comes New Year resolutions. I am of the opinion and school of thought that says that making New Year resolutions are just a complete waste of time.

Your future is the next second, the next moment, what you did 2 hours ago isn’t what you will be exactly doing 2 hours later.

Having said this, it’s advised that we take a cue from the guidelines that will be outlined here to reduce or eliminate frivolous spending.

Here are 5 ways to decrease your needless spending.

  1. Eliminate Procrastination

One bug affecting our plans to reduce spending within any duration of time is the Procrastination bug.

When you procrastinate, you are genuinely telling yourself that you can’t expect when you most certainly can.

If you tell yourself you want to stop spending excessively and uncontrollably in January, then do so.

Avoid making any unnecessary withdrawals, if you want and don’t need it, then don’t buy it.

  1. Do Away With Things You No Longer Utilize

Scour your house, take a trip to the deepest darkest place in your home and do an inventory of the things you don’t need in your house.

Collect them sell them off through a yard sale or call someone to purchase a slashed price item.

Make sure you are not too greedy; the goal here is to get rid of unnecessary junk in your house, and not to make a million bucks in one day.

When you sell off unnecessary items in your home, this money could be used to service debts you have incurred, thereby relieving the stress on your monthly income.

Ensure the process of getting rid of junk in your home is a continual process.

  1. Efficiently Manage Your Calling Habits

It’s always fun to initiate calls over the air, using your network service provider. However, these days’ cheaper means of initiating calls are available. You can use apps like Skype and WhatsApp to initiate calls that are not billed; they only connect calls through the internet.

If you don’t utilize your smartphone for making calls over the air all the time, then you need to adopt a pay-as-you-go plan, rather than an outright cell phone plan.

  1. Start Exercising

How does exercise cut spending?

Simple, most forms of exercises are usually free and devoid of equipment. Exercises such as running, jogging, walking, jumping jacks, and sit-ups are all free and devoid of equipment.

The goal of any exercise routine is to increase metabolism, thereby leading to weight loss.

Weight loss means an avoidance of health conditions such as diabetes and obesity that will require you spending heavily on medical bills.

So this means if you exercise more, you spend less on medical bills, thereby cutting down on the amount you spend on health care bills.

  1. Switch to a Bank that Accords you Respect

Do you get alerts from your local bank for too many maintenance fees? Does your bank provide you with a very little interest rate on your savings account? Or you’re not getting any interest out of your checking account?

You should take the initiative; you need to switch banks. Start searching for a Bank that can offer you better interest rates and less maintenance fee charges.

Swapping banks can efficiently save you $30 – $40 a month; this sounds like an adequate plan to me.

One thing is for sure; if you haven’t the will to cut expenditure, you most certainly will not. You’ll end up in a rat race cycle at the end of every year leading to no improvement in your lifestyle.

Take the initiative, save up some cash, and secure your future and the future of your generations. All it takes is just a little effort and its smooth sailing downhill.

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