10 Simple Tips to Control Your Expenses

by Gily Tenorio on April 22, 2010

in Personal Finance

Every day we have expenses. For example, we buy our food so that we have something to eat for our meal.  We use electricity everyday so we also spend money while we use our computers and other home appliances.  We can’t really avoid spending money but we can control it.

The question is: How can you control your expenses?  For most people, it is really a difficult task especially to mothers who are in charge of budgeting their family’s finances.  Yeah it is difficult at first but if you start controlling now your expenses, it will be easier as months go by.  Here are some tips on how to control expenses and save money in the long run:

1. Make a maximum limit for your expenses each month or in a year.  You must spend your money below this limit.

2. List all your expenses each month in spreadsheet so that you can monitor where your money goes.

3. Buy your household necessities like soap, toothpaste, detergents and other stuffs in discounted or bulk price. These are the items which not expire for a long time.

4. Always turn off lights and appliances when not in use.

5. Iron your clothes in one session and not in separate days.

6. If you have a vacant land in your yard, plant vegetables that you always consume such as tomato, eggplant, pepper and other vegetables that is easy to plant and manage.  In this way, you will lessen your expenses on food; the other benefits will be healthier meal and free exercise while you’re gardening.

7. Allow one month to pass when you are tempted to buy an expensive clothes, shoes or gadgets.  If you still like and desire to have that after a month, you may buy it as long as it is still below your monthly limit of expenses.  This tip is to spare you from impulse buying.

8. Learn how to distinguish desires from necessities.  Prioritize necessities so that you will spend your money on things you really need not on what you want.

9. Engage in quality hobbies while on the home such as reading books, playing musical instruments, knitting, gardening and other hobbies requiring no computers and appliances that consume electricity.

10. Eat healthy food and exercise regularly so that you will avoid being sick requiring you to spend money on medicines and/or hospital bills.

Controlling expenses is a must if you want to save more money. Spend on things you really need, not on luxuries or things that you want.

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