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Control Your Spending

Curb, control or budget your spending should be included in your watch out list so you know where your money goes to. It's absurd you complain that your salary is not enough and you wonder where your money went.

I already mentioned many times in my previous posts that you should learn how to pay yourself first before other people. In that way, you accumulate money that you don't need at the moment which could be served as savings, emergency fund or perhaps cash to use in investing (be it time deposit, mutual fund, UITF or stocks).

If you learn to control your spending and only spend on things that are on your well-planned list, you probably save a lot of money. Imagine, if every day you buy a can of soda (out of your habit) that costs 30 pesos. If you multiply it by 30 days, it sums up to 900 pesos a month. And you will be shocked upon learning that a can of soda a day for a year is a big 10,800 pesos. That is a huge amount that can be used instead in buying more important things. Besides, I'm a health conscious advocate and I don't want your health to suffer and put into danger. I don't want you to either sacrifice your cravings or dictate what's good for your life. As a general rule, if you pay yourself first (save a portion of your money after receiving your income), then you're good to go. The remaining money is all yours and can be spent on your bills every month, luxuries you longed for and the list goes on.

Don't just believe that if you have a bigger income, your life will be good as well. Yes, you can buy whatever your heart desires but come to think of it, you'll get into more debts. Also, most of the people who work in a corporate world, as soon as their salary increases, their kind of lifestyle increases as well. But if you know how to manage, budget and invest your money (don't forget to spend only on needed things and not on unnecessary stuff), then I assure you of acquiring big money in your pockets or bank accounts.

I hope you like my today's post.

Lastly, if you want to receive more tips and advice on making money at home, please consider subscribing to Learn to Earn Money Online, thank you.

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