How to Keep From Overspending Throughout The Month

One of the hardest part of making is keeping the money. It can be easy to get your paycheck and think to yourself that you have a ton of money.

If you’re like me you would easily spend all your money early on in the month and have nothing left over at the end.

The Problem

The problem is that you’re looking at your money all wrong. Let’s say for example you have $100 to spend every month on whatever you want.

The problem is that you see that $100 and think you have $100 right now. What you need to do is look at it on a smaller scale.

Do Daily Amounts

The best way to go about this is to do a daily amount. Instead of thinking in months you need to think in days.  So there is about 30 days in a month. If you have $100 a month to spend that is $3.33 a day. Or $23.31 a week.

money divided up

When you break it down in the days you see your money better and will hold on to that $3 more than you would if you had $100. Its crazy that it works this way but it does.

The Best Part

I think the best part about this method is that it causes you think before you buy. If you’ve been eyeballing a certain item that cost $50 this will give you at least 2 weeks to think about it before you buy it. In those two weeks you can ask yourself questions like ” do I really need this?” or “will this make my left better?”.

This allows you to see money as a time. Forcing yourself to wait is a great way to keep yourself in check and keep you from buying useless crap.

If it helps place the $3 in an envelope. If you don’t spend that $3 then keep adding it to the envelope. Then you’ll soon have a surplus of cash to buy stuff.

Going a Step Further

To really test yourself you can try spending less that the amount you give yourself. Instead of $100 a month why not stop at $75 and place the other $25 in a savings account or plan for a bigger purchase at the end of the year?

Placing that extra $25 in an emergency fund will be the best thing you’ve spent your money on if you have a real emergency.

This tip was a huge help for me in college and finding ways to spend less each month really help when I was job searching. Having little money after college was a pain, but that small emergency fund I created help keep me afloat in the hardest of times.

 

Getting More Help

We can talk for days about how to save money and how to keep from overspending. I like to read books on the subjects to really help me figure out what the real problem is.

The book I recommend is probably not my most favorite person in the world, but what he says is true for a lot of people. The total money make over ad, who I will not mention his name, is actually a good book. If you’re having trouble saving money or spending too much I would suggest your read his book.