If you want to control your spending, you have to go about it in the right way. You know you have to save for the future, but how do you make sure that it’s really going stick?

Unless you have some great ideas and a plan, you might run into trouble. That is the reason why different financial experts have shared practical steps you can take to help you better control your spending.

We are going to share some of the tips and advice you need to spend less and get the most out of your money.

• 15 Ways to Control your Spending
• How can you Create and Manage a Budget?
• How can you Manage Unexpected Bills?
• What are some Spending Problems?
• What are the Different Types of Spending?
• How can I Stop Spending Big on Food?

15 Ways to Control your Spending

1. Set Savings Goals

It’s always good to make a plan. Are you saving your money in order to buy a car? Perhaps you just want to pay down those credit card balances. Whatever the case, set your goals.

Read Also: This is How Your Grocery Store is Tricking You Into Spending More Money

Once you have a clear idea of what you are saving for, you will be prepared to work toward that goal. Think of your goals as a line of defense protecting you from spending inordinately.

2. Plan Your Budget

Keep track of what you are spending, and log daily entries into a budget spreadsheet. Over time, you will see how much you spend every day, week, month, and year.

If you need some help, there are many effective budget planners that you can find using a search engine. You can analyze your budget, and pinpoint exactly where your wallet is hemorrhaging.

You can also keep track of your income in the same manner – make sure that you are not spending more than you earn! In any case, simply cut out the expenses that aren’t doing anything for your savings, and watch your earnings grow.

3. Balance Before You Spend

Pay all of your bills before you leave the house to go out. When you are unaware of your financial condition, you are more likely to spend money frivolously.

When you have a good idea of your finances, however, your awareness will help you when you go out. Balancing your checkbook will provide you with the willpower to avoid spending too much.

4. Wait Three Days

Whenever you are tempted to make a big purchase, wait three days. While you’re waiting, consider whether or not you need what you want to buy. After the rush of impulse shopping wears off, you will know if it’s something you actually want to purchase.

5. Eat Your Food

Don’t go out to eat. There’s food in your fridge that’s probably better for you, and you will save big bucks by staying home. Check your pantry before you take another trip to the store: you probably have some food in there too.

And when you do go to the store, eat before you go – a hungry shopper is a spendy one!  Remember, only go to the store when the food is gone. You’ll take fewer trips and lower your grocery bill, effectively saving you some money in the process.

6. Pack Your Lunch

Many people spend their money daily on expensive restaurants and food trucks. Avoid this trap by making a sack lunch before you leave the house for work. You will eat healthier, and you’ll save a great deal of money by following this tip.

7. Shop With a List

Make a list of what you need to buy before you leave the house. This will galvanize you when you are out – just stick to the list. In this manner, you can easily avoid impulse buys. Just remind yourself that you can’t buy anything that isn’t on the list.

8. Cancel Catalogs and Emails

Retailers are sending you emails and catalogs all the time. They want you to open them so that you will be mesmerized by their latest deals. Don’t open them! Unsubscribe from these emails (usually there is a link to opt-out right at the bottom of the email).

Call retailers that send you catalogs and ask them to remove your name from their mailing lists. In these ways, you can allay your temptation to check out the latest deals (saving you some hard-earned cash!).

9. Hide Away Your Credit Cards

Your credit cards can be your worst enemy when you are striving to save money. Therefore, place them in a spot that isn’t readily available to you.

A safe is a good place to start: the credit card won’t be readily accessible, and it takes time to enter the combination. Safes aren’t the only way to stop spending with your credit card. You can try anything that will slow you down when you want to pull out the card.

There are more drastic measures that you can take (especially, if you don’t have a safe). Try wrapping your cards in plastic and burying them in the backyard. Or you can freeze them.

Just place the card in a bowl of water and stick it in the ice box. (Put a coin atop the card to keep it from floating.) Next time you need to use your credit card, you will need to thaw it out or dig it back up – very effective deterrents, indeed.

10. Cut Up Your Cards

So the icebox trick didn’t work. Or maybe you’re really good at digging. You somehow managed to spend with your credit cards even after you tried to hide them away. No worries, just cut them up.

If you find yourself spending too much with debit cards, cut them up too. No more trips to the ATM on a whim, and no more impulse buying. No credit and no debit means no frivolous spending with your cards.

11. Borrow Don’t Buy

When money’s tight, think of borrowing what you need. The neighbor’s lawnmower, a tie for a special engagement, your brother’s pickup truck. Remember, you often don’t need to rent or buy anything, especially if it’s for short-term use.

12. Trade & Barter

Many things that you currently own have value. Keep this in mind when you need to buy something: you can trade what you already own! Ask the neighbor if he wants to trade his lawnmower for your chainsaw. You can even barter your own time if necessary, like babysitting your brother’s kids so that you can borrow the truck again.

13. Collect Spare Change

Keep a change jar, and deposit all of the pocket (or purse) change you accrue. Another fun idea, put a label on the jar, like “Ski Trip,” “Disneyland,” or “Sound System.” Whenever you put money into the jar, you’ll feel good for working toward a savings goal.

14. Just Do It

Rather than paying someone else to weed your yard, fluff & fold, or clean your house, go ahead and do it yourself. In the long run, these services aren’t doing much for you. Sure, they’re convenient but they’re going to cost you. The cost for doing it yourself is just a bit of your free time – and your savings will thank you for it.

15. Consider the True Cost

Whenever you want to make a purchase, consider the “true cost” to you. Find the true cost by calculating how many hours it would take you to earn the money to pay for what you want to buy.

For example, if you make $20 per hour and you spend one-hundred dollars to go out and eat, you just spent five hours of work. By effectively converting the monetary figure to an hourly one, it can serve to deter you from making purchases you might regret.

Have can you Create and Manage a Budget?

Budgeting strategies and techniques vary across the board. There will be differences, for example, between what works for a first-year college student and one for a retiree.

But there are five basic steps in creating a budget. They are all important because they build on one another, helping you organize your finances sensibly.

Step 1: Set Goals

There are two types of financial goals: immediate and long range. Immediate goals focus on using your money today, while long-range goals deal with saving and spending over decades. Both are important, and complement one another: Saving money today affects what you spend now but also how much you’ll have later in life.

You need to determine which goals address necessities and which ones cover luxuries. Then, you can prioritize your financial goals accordingly.

Immediate financial goals include covering current expenses. Some of these are obligatory and include your mortgage or rent payment, car loans, utilities bills, child care, food, cell phone and household supplies.

Secondary goals, called discretionary items, include non-essential clothing, subscriptions, dining out and taking vacations. Long-range financial goals could also include retirement savings, investments and charitable donations. If you have debt, paying it down can be both obligatory and discretionary.

Making required payments is essential to financial solvency, but paying debt early, while not required, can make long-term sense.

Step 2: Calculate Your Income and Expenses

After you determine your financial goals, you need a plan for reaching them. To do this, you need to evaluate your income and your expenses. Most people budget monthly because most bills follow a monthly schedule.

Start by making a list of your monthly income sources, including your salary (after taxes), any bonuses you incur on a regular basis, and child support or alimony payments. If you don’t know the exact amount, you can use an estimate. Once you have your numbers, add them up. The total is your monthly income.

The next part of the equation is your expenses, which fall into three categories: fixed committed expenses, variable committed expenses and discretionary expenses.

If you fail to pay off your credit card bills each month, you’ll begin to pay a great deal of interest. This can play havoc with any budget. If your carried-over credit card payments eat up more than 10% of your monthly income, you should consider speaking with a nonprofit credit counselor. 

Over the telephone or online, a free credit counseling session will walk you through your budget and recommend expenses that can be reduced or eliminated. If you qualify for a debt management program, you may be able to reduce your monthly debt payments as well.

Step 3: Analyze Your Spending and Balance Your Checkbook

The goal in budgeting is to make sure your expenses do not exceed your income. If they do, and more money is going out than is coming in, then you need to make adjustments.

This doesn’t necessarily mean you need to start penny-pinching; it just means it is time to revisit the discretionary cost category and see where you are willing and able to cut the fat.

If you make any payments by check, your checkbook register can help you keep track of incoming and outgoing money, and what you spend money on.

Although paying by check is becoming rarer, those who stick to this payment method should keep their checkbooks balanced. This will help you avoid overdraft fees or bounced checks, and it can shed some light on your spending habits.

Step 4: Revisit Your Original Budget

After you’ve had a chance to monitor your income and expenses for a month or two, you will be more aware of areas that need adjusting.

Maybe your initial monthly income estimates were off, or perhaps you didn’t account for expenses like car repairs or veterinary bills. Make adjustments, but always balance inflows with outflows.

Once you work out all the kinks in your budget, you need to commit to following it. No budget is forever, however, so periodic reviews are key to success.

If you get a promotion, for example, you can increase your discretionary spending as well as your savings goals. On the other hand, a layoff or fewer work hours could mean cutting back on spending until you restore your income.

Savings should be part of the plan. Financial planners recommend that your savings cover six months of income, enough to compensate for a job loss or other emergency.

You might find it useful to open a separate savings account and fund it gradually until you reach the goal. Keeping a separate account will make it more difficult to raid the emergency fund to cover non-essentials.

Step 5: Commitment

Creating a budget is a great step in working toward a more financially sound future for you and your family. Committing to your budget will get you there. Remain realistic, evaluate it often and don’t be afraid to adjust. Budgeting is all about balance.

How can you Manage Unexpected Bills?

an emergency fund is crucial to financial security. Start by setting aside $50 per week. In a year, you would have $2,600, plus any interest, for when the refrigerator stops working or when the transmission blows.

Experts recommend looking at your withholding taxes to find hidden cash. If you receive a large refund every year, perhaps you need to change your filing status to receive additional money in your paycheck to put toward an emergency fund. Unless, that is, you are putting your tax return funds into that fund.

Medical crises in particular can turn a balanced budget upside down. Negotiate large medical expenses, such as an emergency hospital stay, with the hospital. Almost all hospitals negotiate fees.

Often if you contact them immediately instead of waiting until the amount goes into collections, the hospital or provider’s office can set up a payment plan.

If not, a medical bill consolidation may help, as it allows you to combine all your medical bills into one lower monthly bill through an agency or a bank loan.

This not only makes it easier on you, but the arrangement protects your credit score because you are able to make on-time payments. The downside is it may take you longer to pay your debt in full.

What are some Spending Problems?

Spending issues can impact your financial future and can lead to serious financial issues, like debt, home foreclosure, poor credit, even marital issues.

You may have a shopping addiction if you shop to deal with negative feelings, argue with loved ones about your spending habits, buy things on credit that you couldn’t afford to buy in cash, or feel guilty or ashamed after going shopping.¹

If you think you might have a spending problem, it’s important to acknowledge these issues. You may need to seek professional help, which will allow you to take control of your finances. Here are five common signs of a spending problem and how to recognize them.

1. Hiding Purchases from Others

One of the biggest signs that you may have a real spending problem is that you hide your purchases from others, especially a partner. If you are married, it may be that you are hiding your purchases from your spouse. If you are single, you may be hiding them from your roommates or even your friends.

You may also be hiding the purchases from your parents. ​This is a serious sign of a spending problem, and you need to take steps as quickly as you can to address the problem.

2. Seeking the “High” of Shopping

Much like other addictions, some people get a “high” after shopping or purchasing things, even if they don’t really need them. If you find yourself craving the experience of going shopping especially after a bad day, or counting down the minutes or hours until your next shopping “fix,” you may have a spending problem.

3. Maxing Out Credit Cards

If you have multiple credit cards, if they are constantly maxed out or you continue to max them back out after making a payment each month, then you may have a spending problem. You may also have an issue if you are constantly juggling between them, trying to figure out which has enough credit remaining on it so you can spend more.

Continuing to spend even when you do not have the funds to do so, is another sign of having a spending problem. Being in denial about the amount of debt you have, or how much money you actually spend on things you do not need each month, are other signs.

4. Losing Track of What You Own

If you have a hard time remembering what you already own, you may have a spending problem. You may be running out of space at home with a lot of extra boxes stored in every closet of your home, or have an extra room devoted to just the items that you have purchased recently. This is a big sign that you may have an issue. 

Take an inventory of what you own. If you start to see many duplicates, such as three toasters or five similar white shirts, then you may have a spending issue and should seek professional help. 

5. Buying for the Sake of Buying

Do you ever go into a store and begin walking around the store putting random items in your cart? Do you ever load up your online cart, even if you don’t need anything new? Is it not as much about what you are buying, rather, the simple act of buying something? Then you may have a spending issue.

People who buy things simply for the sake of buying, or who overbuy for family and friends for holiday and special occasion gifts, may have a spending problem.

6. When to Get Help

If you think you recognize any of these signs in your spending, then you may have a spending problem and should likely seek professional help before it’s too late and your finances suffer.

Remember, spending issues can cause other serious problems with your finances, such as debt, home foreclosure, relationship issues, and more. Additionally, you may tackle your other financial issues, like getting out of debt, separately.​​

What are the Different Types of Spending?

Determining the Type of Spend strengthens your relationship with yourself and with your money. It’s a tool that gives you an access point for cleaning up stressful and painful thoughts… even ones you never knew you had. It helps build self-awareness as well as financial awareness.

The Four Types of Spending are Abundant Spending, Neutral Spending, Scarcity Spending, and Avoidance Spending. Each type of spending leads to drastically different results.

1. Abundant Spending

This is money spent from the abundant zone on the Abundance Scale (+2 to +10). Thoughts about this spend are abundant, generous, and positively charged. You feel good about the price, feel good emotionally, and feel good about the item that you are paying for. It is an action that is taken from abundant and positive feelings and thoughts. 

2. Neutral Spending

This is money spent from the neutral zone on the Abundance Scale (-1 to +1). Thoughts about this spend are neutral and not emotionally charged. You feel neutral about the price, feel neutral emotionally, and feel neutral about the item that you are paying for. It is an action that is taken from neutral feelings and thoughts.

3. Scarcity Spending

This is money spent from the scarce zone on the Abundance Scale (-2 to -10). Thoughts about this spend are scarce, resistant and negatively charged.  You feel bad about the price, feel bad emotionally, and/or feel bad about the item that you’re paying for. It is an action that is taken from a scarce and negative feelings and thoughts.

4. Avoidance Spending

This is money spent unconsciously in order to notexperience scarce/negative feelings and thoughts. Avoidance Spending is money spent in the scarcity zone on the Abundance Scale, even though you do not recognize the feeling at the time.

This is an action taken to NOT FEEL something. To numb a feeling. This is an action usually taken to distract yourself from the truth. To distract you from what you’re really feeling. It is typically money spent in order to avoid feeling broke, stuck, bored, lonely, punished, left out. 

Avoidance Spending can also be money that you are unconsciously spending because you aren’t dealing with your finances (extras like un-used gym memberships, extra cell phone minutes, unused automatic payments, overdraft fees, etc.)

How can I Stop Spending Big on Food?

Overspending on food happens for a number of reasons, from poor planning on our parts to deals that seem too good to pass up. If you want to start saving money on food, you might need to change the way you approach grocery shopping and food buying in general.

We have some tips and saving advice to help you spend less at the grocery store, without resorting to cheap noodle soups or plastic cheeses.

1. Research Prices

One of the best ways to learn how to stop spending money on food is to learn when things are on sale and to only purchase them then. Researching prices isn’t as dreary as it sounds. In fact, it can be kind of fun.

Set aside about 30 minutes a week to flip through the sales flyers each week. Make yourself a cup of coffee or tea as you browse, play your favorite music, and make a list of the items you need to purchase that are on sale.

You’ll start to see patterns in terms of sales. For example, you might notice that coffee is $5 one week, then $3 the next, before jumping back up to $6.

Once you learn the sales cycle for the foods you buy frequently, you can start purchasing them only when they are on sale, so that you end up saving money on food you actually eat.

2. Stick to Your List

Making a grocery list can help you spend much less on food, but only if you pledge to stick to the list. Since you can’t literally put blinders on when you step into the supermarket, you’ll need to train yourself to ignore or avoid certain areas of the store.

Some people have stopped going down the snack aisle and the cookie and cracker aisle, since doing so always meant they add a few extras to my cart, whether they were on the list or not.

3. Eat Before You Shop

Never shop when you’re hungry. That might be the best piece of saving advice you ever get. When you head to the grocery store before you have a chance to eat, something strange happens the minute you set foot inside the store.

Suddenly, every single thing looks like something you need to buy and eat right now. If you need to learn how to stop spending money on unneeded groceries, learning to always eat before shopping is key.

4. Plan Out Your Meals

Wasted food is a big reality in this country. The average person ends up wasting over 200 pounds of food each year. Food waste isn’t just a concern for the eco-conscious. It should also be a big concern for your wallet.

When you buy food only to throw it out in a month, uneaten, you might as well just throw your money in the trash.

Planning each meal for the week before you go shopping will help you avoid excess waste. Before you consult your sales flyers and make your list, check what you have in the pantry or fridge. Plan the meals around what you already have and what’s on sale.

5. Consider Buying in Bulk

Some grocery stores have bulk bins for staple items, such as flour and nuts. You can save a lot of money if you choose to use the bulk bins, rather than purchasing packaged foods.

When you buy in bulk, you only purchase what you need, which means you’re less likely to end up tossing food. The price is often lower, since you’re not paying for extra packaging, either.

6. Think Outside the Grocery Store

Depending on where you live, the supermarket might not be your only option for food purchases. In the spring, summer, and fall, many areas offer farmer’s markets, which let you purchase in-season, locally grown produce.

While farmer’s markets have a stigma of being over-priced, that’s actually not true. Most produce from farmer’s markets is less expensive than the produce on sale at the grocery store.

Saving money on food might also mean purchasing dry goods online. Some online stores, such as Amazon, let you purchase large quantities of foods such as dried pasta, cereal, and baking supplies on a subscription basis.

The cost per item is lower, plus you save if you decide to have the foods automatically shipped to you on a certain schedule.

7. Coupon Carefully

Some people really love their coupons and believe that the coupons help them save a lot on food. You can save money with coupons. But, you can also waste money, if you get caught up in the coupon game and start buying foods you won’t actually eat.

Don’t let the thrill of saving 50 cents or so tempt you into purchasing items you’ll never use or don’t need. Save coupons for the foods you do eat regularly. If you do use coupons, remember to use them when the items are on sale.

8. Shop with the Seasons

Getting blueberries in December and winter squash in the middle of summer is a luxury. You’ll end up paying for that luxury by paying a higher price per pound.

Teach yourself not to want summer produce in winter or winter produce in the summer and you’ll save considerably when you shop. You’ll also be less likely to waste the fresh produce you buy, since seasonal foods tend to taste much better.

9. Limit Meals Out

You knew this tip was coming. Try to limit restaurant meals to special occasions. You end up paying more for foods at restaurants in two ways. First, the food costs more when someone else makes it. Second, you risk wasting food you already purchased when you choose to eat a restaurant instead.

When you choose to dine out, pay attention to any deals offered by the restaurant. A lot of places will offer special deals on weeknights to attract diners.

Read Also: Your Personal Budget Bliss

If you need help breaking the restaurant habit, set aside the money you would have spent on a meal out the next time you get the urge. Prepare your meal at home instead. At the end of the month, take a look at the money you’ve set aside. Odds are it will be a pretty good amount.

Final Thought

With these simple tips, you’ll find that you can eliminate needless spending and start to grow your savings. It might not be easy at first, but it can be fun!

Try thinking of the money in your bank account as your score in a video game – avoid the spendy temptations, incorporate these tips into your buying habits, and rack up those points! Before you know it, you will be heading down the road to reducing your debt and building up your wealth.