How to Spend Less Money

We know what we need to do to build wealth, right – you need to make more money, right. Sure, making more money HotmMama is a good goal, but if you never get your spending under control, then you all the money in the world won’t do you any good.  You need to learn how to spend less money.  If you can spend some time figuring out how to spend a little less of your hard earned money, then you won’t have to spend some much time figuring out how to make more of it.  And what should you do with all of this hard earned money?  Save it of course.  But look below for some strategies on how to spend less money without feeling like Scrooge.


Learn How to Spend Less

Keep a List – Don’t worry about totally cutting yourself off from spending.  Simply keep a list of things you want – whether it’s a new purse or a tv or even a book.   Resist the impulse to buy it right then – just add it to y0ur list so you know you won’t forget it.  Take a day or more to decide if you really need it.  Research similar products on the internet (as long as that won’t send you into a spending frenzy).  Plan how you’re going to pay for it – i.e. I’ll skip breakfast out today.  And then, and only then, decide if you really need it.  We bet that half the time you find that you’re burning need for it right then wasn’t so burning.  You wind up buying less and making more thoughtful purchases.

Go Shopping in Your Closet – Take the time to go through your drawer and closets and build a wardrobe out of what you already have.  If you get rid of old, too small or too big clothes, you will be able to see what you really have.

Track, Track and Track – One of the best ways to take a look at your spending habits and what you buy is to track everything you spend on for a week or two.  Take a small notebook and write down what you spent your cash on.  Go back over credit and debit card receipts and see what you bought.  Look at the whole picture and see what your biggest and smallest expenditures were and see what can be trimmed.

Make Luxuries Special – There’s an old saying, “A luxury once sampled, becomes a necessity.”  Do you truly need all those manis and pedis?  Could go to a cheaper salon, or go less frequently?  Can only rent movies from the library and cut your cable bills?   Are you eating out too often?  Can you turn it into more of a special occasion?  Review what you’re spending and determine what should be moved to a special or luxury category, to be enjoyed less frequently.

Ok so these 4 tips won’t make you a millionaire but they will help you get handle on your spending – without feeling like you’ve been stranded on a desert island.   If you want a full simple, easy to work plan for saving for money and building your family’s wealth – no funny business, risky investments or second jobs required, then check out the HotMama Secret’s Way to Wealth Guide –  A Simple Guide to Finding and Saving More Money Today Click Here:

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