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Three Ways to Control Your Money

Do you feel like you have a manageable amount of debt, a comfortable amount of emergency funds, and control of your financial standing overall? If the answer is no, it may be time to get your spending under control. For most of us, our major financial goals will require us to dedicate immense time and energy toward reaching them. Successful saving requires mindful spending.

Take control of your spending by making these three changes to your spending and saving habits:

Take a Break: Thanks to their convenience, credit cards often make it easy to spend more than we should. Set a goal of reducing your credit card debt to a point where you can repay your balance each month. In order to do so, consider leaving your credit cards at home and push yourself to keep credit card spending to a minimum. Delete saved credit card information from sites where you have a tendency to shop.

Reassess Your Necessities: A great place to reduce our spending, in exchange for more savings, is to reevaluate what we identify as monthly “necessities.” Practice smart spending. Reflect on if all your monthly expenses are things you truly need, or if they are luxuries you can avoid. Watch out for overspending: it can be easy to overpay for an item out of convenience or the desire to get the “best,” when, in fact, the same quality item could be purchased for less.

Reassess Your Fun: A movie with family, a dinner with friends, a day at the spa … entertainment and self-care expenses can quickly add up. But just because you want to reduce your social and reward spending, doesn’t mean your life should be dull and unrewarding! Consider more home-hosted events, rent movies online, and think about taking a warm bath at home instead of paying for a pricey massage. Include your savings-minded friends in your budget plans: chances are, you all have financial goals you’re working toward. Adding a second source of income is another powerful strategy to help you increase your ability to spend and save.  

Learn more ways to spend and save with confidence at