You say you know where your money goes and you don’t need it all written down to keep up with it? I issue you this challenge. Keep track of every penny you spend for one month and I do mean every penny.
You will be shocked at what the itty-bitty expenses add up to. Take the total you spent on just one unnecessary item for the month, multiply it by 12 for months in a year and multiply the result by 5 to represent 5 years.
That is how much you could have saved AND drawn interest on in just five years. That, my friend, is the very reason all of us need a budget.
If we can get control of the small expenses that really don’t matter in the overall scheme of our lives, we can enjoy financial success.
Cutting your lunch bill from five dollars to three a day will save you $100 in the long run. It may not seem like much now, but after cutting it for just four months and spending that money on something else interesting, by year’s end you’ll have saved enough to buy yourself an iPad or go out with friends each weekend!
The idea of saving or putting aside cash can be daunting for many people- but it doesn’t have to be! In order to live a more frugal lifestyle you need only look around for small expenses that are easily remedied in everyday life; from making lunch instead of buying out every day, turning off lights when they’re not needed (even if it’s just while reading), washing clothes as soon after wearing them as possible– these all add up over time with both savings AND peace of mind.
Set some goals for yourself and work diligently to make them happen. Goals are rarely achieved without a plan, so start with the end in mind!
If you want to be able to make a down payment on a house, start a college fund for your kids, buy a sports car, take a vacation to Aruba… anything… then that is your goal and your reason to get a handle on your financial situation now.
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