1. Track Your Bills and Review Your Bank Account
You should keep an eye on your bank account. Sometimes, it’s hard to see exactly how much money you’re spending when you’re shopping. You can only figure this out by taking a close look at your bank account. It will show you exactly what amount you’re spending, so you’ll realize how much money you’re actually wasting.
Those $5 purchases may not seem like they drain your finances; however, if you’re making this kind of purchase daily, this could result in several hundred dollars less by the end of the month.
Don’t forget that you don’t always use your debit card when purchasing things. Therefore, it’s important to take a closer look at all the payment portals you use. Review all of your bills. This will help you get a handle on exactly how much money you’re spending.
Next, sort your purchases by what’s necessary and what’s not. How much money are you actually throwing away on unnecessary purchases? Well, if you’re lavishing yourself with expensive clothes, eating out, having daily Starbucks coffee, and so on, there’s a good chance that you’re spending more than you think.