Eliminating Extras to Save Money

Eliminating extras to save money is one of the first things you can do to start keeping more money in your pocket instead of watching it leave faster than you can spend it. Oftentimes, we look for the harder solutions first before we consider that it might be the simple smaller transactions that are doing us in. When you consider how much you're spending, you're more likely to look at your car payment, your rent and how much you spend on groceries. However, those daily trips to the coffee shop and weekly lunches with friends, and that extra pair of shoes that you purchased because it was a great deal can often be what is really draining your wallet way too quickly.

Adding Up Smaller Transactions

Because these things add up so quickly, you can often spend a hundred bucks before you even know it. It's much easier to spend as well when you're using plastic because you don't actually see the cash leaving your hands. This is why if you really want to make the most of your financial planning efforts, you should give yourself a certain amount of cash in your pocket and that's it. That will keep you from overspending because it's not there to use, in any form. Of course, it's always good to have access to a credit card in case of an emergency, but emergency situations should be very clearly identified. Renting a kayak for those weekend activities is not considered an emergency.

If you're stranded or have a medical emergency that comes up, then this would be something that requires the use of a credit card. Keep in mind that it's always better to pay with cash so there are no remaining bills to worry about, but this is not always possible. As you talk to a financial professional, they will be able to give you more professional tips and advice like this. Because they see many clients all the time who get themselves into financial trouble through the small transactions that appear harmless on the surface, they can describe to you in detail what kind of problems arise from those choices.

Considering Grocery Shopping Bills

Another way to save might be going over your food shopping list more carefully. It's not a good time to go shopping when you're hungry because you spend a lot more on snacks and other things you wouldn't normally purchase. It's hard too when you have your kids because they will tend to ask for extra drinks and other items that are sugar-laden that might also be substituted for something healthier otherwise. More wives will tell you as well that when you take your husband shopping, the bill tends to increase by a couple hundred dollars. Of course, having the help is also nice, so you have to weigh up the additional cost versus facing the grocery store all alone.

When you're trying to eliminate extras to save money, it's just best to look at everything you spend money on. This is where you sit down with your spouse and write everything down, including the incidentals that typically get purchased during the day. All of it adds up to cash leaving your bank account, so it all needs to be discussed. If there is no way to get around these daily purchases, then you should settle on a daily amount that can be used for them and not go over it. At least if you plan ahead for them, then they will be a part of your budget and you won't be taking money away from another obligation that cannot be neglected.