Learning to Spend Less So My Earnings Are Greater

Most people are on fixed salaries.  Each pay day, they're going to receive "X" amount of dollars.  From that money, they've got to be able to pay for their living expenses, bills, savings for retirement and/or kid's colleges, and maybe even have a few dollars left over to rent a video on the weekend!  The problem with the way most of us earn money is that our bills and expenses always seem to be increasing, despite our income level staying the same.

As a freelance writer, I'm often able to increase the money I make simply by taking on more work- but as a general rule, people are limited to what their salaries are.  Short of looking for a second or third job, you earn what you earn, and there's not much you can do about it!  So, instead of wishing or dreaming about the day when you win the lottery or otherwise increase your level of income, you could learn to spend less.  Spending less money is the same as increasing what you earn; there will be more money available to you from each pay period if you have to pay less.  Make sense?

Out of Sight, Out of Mind.

I know there isn't enough money left over after you pay the bills and your living expenses to put money into a savings account.  I know, because I used to do the same thing.  I'd start writing out checks and going online to make payments for the things I owed, and by the time I got done, I was lucky if the money stretched enough to pay for it all.  There was never any money left to put into a savings account.  So, I had to change the way I did things.

You've heard it before, but I'll say it again:  Pay Yourself First.  The best and most convenient way to do this, that I've found, is to set up an automatic transfer of money from your main checking account into a savings account.  Start out with a small amount, like $20 a week or so (or per pay period), and just forget about it.  Over time, this $20 will add up, it will earn interest and you'll have some money in savings.  If  you don't have it in your account to use, you will forget about it and trust me, after a few weeks you aren't even going to notice the missing $20 from each pay period.

Make a List and Check it Twice

Never go shopping without a list.  When you decide what you are buying before you go to the store, you will spend far less than if you just randomly walk through the aisles of the store and grab things you "need".  Make a list, and buy ONLY what you put on the list.  If you do this every time you go shopping, you'll notice substantial savings in the amount you are spending each month on groceries and other shopping.  Chances are, you can further reduce what you spend on groceries each week just by buying less.  You don't need to have a ton of snacks lying around the house, and if you're like most people, you could get by with eating a little less in general.  Buy less and enjoy the cash savings and the weight savings!

Make a Game Out of Discounts and Coupons

Who really likes to clip coupons?  Not too many people - unless they  make a challenge out of it!  You really can save when you shop discount stores, clearance items, and use coupons.  Challenge yourself to save $30 a week or more by shopping with coupons or the sale racks for the things you have to buy, and it may make it more motivating to put forth the effort to save.

Spending less in general will make your existing money go further and seem like more.  If after cutting out the non-necessities from your spending, and working to save on the things you must buy you still don't have enough money, you'll have to get the second job or find a way to increase your income.