Congratulations! You’ve reached the last step in your money management journey. That doesn’t mean you can spend whatever you want, whenever you want, though. It just means you should now have the mechanisms in place to keep you on sound financial footing.
So what do you mean by keep your spending limited?
The best way to keep your spending limited is to plan in advance. Going out grocery shopping? Then make a list and stick to it. Check for advertised specials so you can stock up – but only if it’s something you’ll use! Going out to eat? Then check the menu online and determine how much you’re willing to spend. And always take your leftovers home!
Keeping your spending limited doesn’t mean you can’t spend money ever – it just means you try to plan out in advance how you’ll spend it!
Won’t people think I’m cheap?
You may have some friends or family members who think you’re cheap because you don’t spend as much money as you possibly can. But that’s fine. Some of them will hopefully come along with you on your financial journey and be better for it, and some of them won’t and may have regrets in the long run. Either way, you’re responsible for your own financial freedom, and it doesn’t really matter what anyone else thinks.
Any other spending tips?
One of the good and bad things about being an adult is that there isn’t anyone to tell you what to do! When you were a kid, your parents could limit what they bought you and even how you spent your own money. But as an adult, you have free reign over how you spend your money.
So it just comes down to keeping track of how you’re spending money and making sure you’re making the most of your purchases. You don’t have to limit yourself to only the bare essentials in life but think long and hard about which “little pleasures” are the most important to you.
The Takeaway
The key to keeping on track with your spending is to plan as much of it in advance as possible. You don’t have to figure out to the penny in advance exactly how much you’re going to spend on groceries or a nice meal out, but it does help to go in with a rough idea of how much you can afford to spend. And remember that impressing other people isn’t more important than your financial security!
