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These first couple tips to slash overspending have helped me out soo much and I know they will help you too!
1. Write your budget down!
Writing your budget down on paper before the month begins is extremely helpful in knowing just how much money you have to work with in each category.
Being aware of where your money needs to go for the month will help you realize there is a cost to overspending.
2. Find your Why
You need a reason for why you are doing the all the work to budget. Do you want financial freedom for your family? Do you want to travel? Do you love to give, but never have enough money?
When you have a Why, it becomes much easier to check yourself on purchases, when the money could be used towards your goal instead of buying something you didn’t need in the first place.
3. Make your dreams visible
Kind of like your Why, but your money dream is what you are actively working towards. Are you paying off debt or saving for a car?
Make your dream visual , so you can see it every day and be reminded of what is really important when you are tempted to spend outside your budget. Print out pictures and stick them in your wallet, on the fridge and in your car.
4. Adjust your budget to be realistic
I know, I just told you in step #1 to make a budget and now I am telling you to make it realistic!
But the simple truth is, if you say you can feed your family of 4 on $75/for the month, most likely it isn’t realistic. When the amounts are not realistic, there is absolutely no way you can avoid overspending.
It is far better to have a little more money in that category to put into savings at the end of the month, than to constantly overspend.
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Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!