How to Budget without Giving Up What You Love |ADDICTED

A budget is an excellent way to gain more control over your finances. It ensures that you have a complete understanding of what you can reasonably afford to spend each week or month, so you don’t end up dealing with overdraft fees and other expenses. The biggest problem that many have with these saving plans, is that they often assume they mean giving up on the things they genuinely enjoy. However, the truth is that you can improve your spending habits without compromising on the things that matter most to you. Today, we’re going to give you the three best tips for regaining control of your spending strategy, without losing out on the things that make you smile.

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Compare Your Spending Options

Rather than looking at your luxury expenses for insights into what you might be able to cut down on, consider your regular monthly must-have expenditures instead. Everything from your utility bills to your loan repayments could be cheaper if you take the time to look around for the best deal. Look at loans, for instance. If you explore your options online before applying for a personal loan, you can improve your chances of finding an option that’s more effective for your needs. There are many different kinds of lending products out there, intended for everything from financing your new car, to handling your credit card debt. Doing your research will reduce unnecessary expenses.

For example, I reduced my phone and internet costs by almost half through an excellent bundle offer from my existing provider. In any case, it seldom hurts to ask and could save you big bucks cutting down on monthly costs.

Make More Deliberate Purchases

One of the biggest problems of the digital world is that it makes it too easy for people to spend without thinking. You can flash a card or purchase with the click of a button these days, which also means that it’s easy to overspend without noticing what you’re doing. To reduce your chances of spending money on things you don’t need or want, be more deliberate. The next time you’re going shopping for groceries, make sure you write a list of all the items you need, paying attention to what you already have in your fridge and cupboards. That way, you’ll spend less cash on waste. The same rules can apply when shopping for gifts too.

Make Small Changes

Finally, if you’re intending to see a difference in your typical spending habits, but you don’t like the idea of giving up much of what you enjoy, start by making more minor changes that you’re less likely to notice. For instance, if you usually get takeout food twice a week, cut down to just once a week instead, that’s what I did over the past year. This will reduce your expenses while still giving you something to look forward to. These little changes will push you to think differently about the way you interact with your money without forcing you to change your life. You might find that some adjustments are easier than you thought.