Transforming Life with Quality Money Habits

This year has been so different on my side, financial wise. I started being so conscious about my income and spending. Well, it's not like I was a spendthrift or something. I guess it's one of the things that come naturally after becoming a parent, isn't it?

In just few seconds, I am going to tell you five new habits that literally reshaped my life. I now know what to spend and what to save for the future considering my income. Makes me feel less guilty spoiling myself sometimes, as I am certain that I have a budget for that. So here come my secrets, (which are not secrets anymore as I am sharing with you all).

Note down expenses

I wrote down all my expenses, from the major to minor ones. I prepared an Excel sheet ready for that and I named it Monthly budget. I noted my spending, like outings, groceries, transport, shopping, salon etc. Writing them all down makes it easier to track and this restrained me from spending mindlessly.

Have a budget for everything

I estimate a budget for each of my expenses by the start of the month. As I have already noted them down, I just estimate how much I am going to spend on each one of them. And of course, I have an emergency budget too, for things that occur unexpectedly. I am doing my best not to exceed the budget I set aside for each expense.

Minimize costs

I found ways to minimize costs. Any option that has less cost, I go for it. If there are things that I could buy in bulk, I do so to reduce costs of buying every so often. If I could cook at home, then I don't eat out. I realized I was spending too much on internet. You all know how costly our bundles can be hence, I chose to use Wi-Fi instead. It's a long-term solution that saves me the stress of constantly worrying about the internet.

Never pay for what I can do myself

I started this rule, that I won't pay for what I can do by myself. Let's say cleaning or laundry now and then. As I don't have a helper at home, I could be tempted to do so but in turn I just manage my time well. For that reason, I realized there is a lot I can do by myself without having to pay. I am not saying we shouldn't pay at all, but let's only do so when necessary.

Have a plan

I planned to expand my small business. So, I am saving for that. It's pointless to save if you have no plans afterwards. Save with a plan. Have the end goal you want to achieve, be a dream house, car or that vacation you have been dreaming of, yey! This will make you stay motivated and have discipline.

I know that 'upare" in me makes me economical by default, heh heh. However, I always find ways to further improve my financial prudence and so should you. Meanwhile, I need you to think about money habits, the good ones of course, that help you save more and more. I have my pen and notebook ready and will be taking notes (I am serious). What money habits do you have that help you save?

PS: In the quest of having good money habits, don't fall in the attitude that spending is bad. Use money for what is for, living.