If you don’t belong to the select few individuals who can spend money without a care in the world, then you need to have a better grasp of your finances. You need to account for your money and keep tabs on your expenses because failing to do so could be a costly financial mistake that dooms you to a life of financial struggles.

You also need to save money for a rainy day and to invest in projects that grow your wealth. Saving starts by reining in on your expenses which calls for a few lifestyle changes.

Avoid lifestyle inflation

Lifestyle inflation is increasing your expenses as your income rises. You spend money on unnecessary items and services, not because you need them, but because you have the money to afford it. The most common example of lifestyle inflation is moving to a more expensive accommodation when you get a pay rise yet the previous house was ideal for you.

They key to saving more money is to avoid unnecessarily spending more money just because you have it. You will have more money to save and invest if you remain at your old house in the same neighborhood.

Have a budget

A budget is the way plan for your money and track your expenses. You are able to make your money work for you if you know how much goes where.

A budget also helps you live within your means and avoid debts in order to fund a lifestyle that you cannot afford. It’s also much easier to come up with a comprehensive debt repayment plan if you have a budget that takes care of all your financial obligations.

Through a budget, you are able to know how much money you can free up so that you can quickly settle your debts.


There are a several online resources like YouTube and Access 2 Knowledge where you can learn a number of skills to enable you do a lot of basic projects for yourself.

You don’t always to call someone or hire a company for basic repairs that you could do by yourself with skills learned from the internet.

DIY projects saves you a lot of time and money. Instead of lining up at an auto repair shop for some minor car issues, you can learn basic car maintenance skills to enable you to attend to the car yourself. Of course, some tasks will require an expert hand – if you’ve been in a car accident, for instance, you are going to want to find a collision repair shop that can help fix your car and get you back behind the wheel as soon as possible.

Bulk shopping

It’s cheaper to do your shopping in bulk than make several trips to the store. You save on transportation costs as well as the ATM or credit card transaction fees you get charged every time you make a withdrawal/payment for a small shopping.

Make money withdrawals that can last you for at least two weeks and pay on cash whenever you can. This stops you from making unnecessary expenditure. If you use a credit, make sure you repay back in time to avoid hefty fines.

You are also likely to get cumulatively lower prices and even discounts when you buy in bulk.