When it comes to spending money wisely not everyone can say that they are an expert on it. Most people admit to spending more than they would like to in most areas of their life but aren’t really sure where to start.
If you are able to identify the areas that you overspend in, then you will be able to make better changes in your spending habits and make more room for things that you have always wanted to do. A vacation, or perhaps a new piece of technology that you have been wanting. Whatever it is that you have been wanting, try to take a look at some of the following ways that you may have been overspending, and make changes accordingly.
Clothing
The average person spends an average or $300 a month on clothing spread out over the year. This is usually due to poorly taking care of your clothes. It is important to try to make them last so that you don’t have to spend this much.
Try always following proper washing instructions and make sure that your clothes are stored properly and not at risk of getting musty odors or holes in them from unwanted critters. If your closets are prone to bugs, you will want to make sure that you take the proper steps for getting rid of moths or other creatures.
Gasoline/Petrol
A lot of people drive cars which are not fuel efficient and end up burning much more gasoline/petrol than they would have otherwise. It is important to invest in a fuel efficient car which burns less fuel which will save you hundreds a month.
Many people also fail to maximize their route in order to avoid traffic. Sitting in traffic for long periods of time will burn more fuel. You might as well be lighting dollar bills on fire and throwing them out of the window.
Eating And Drinking Out
The average person spends about $50 every time that they go out for drinks or food. This adds up quickly when you are doing this several times a month.
By limiting your eating out to only special occasions you will increase your savings significantly. Try to limit eating and drinking out to twice a month and you will find that this small restriction will save you a lot.
Miscellaneous Impulses
A lot of people are easily enticed by impulse purchases which they can’t seem to turn down. When you go to places which are known for having lots of temptation then you can spend hundreds before you know it without being able to know where it all went.
Try to avoid places you know will be an easy trap. If you know that you tend to spend a lot when you go to Target, for example, try to remove yourself from the temptation entirely.