Control Your Expenditure. How?

The Financial System of the world today is not a pleasant story to tell.

We wake up everyday to face a higher level of depreciation. Prices of goods, commodities and services are increasing rapidly. Things are getting costlier, People are giving up on trying to grow their finance.

Many people are no longer trying to manage their income and expenditure. Some people even spend everything they earn for the day and just wait for the other day. This cycle continues, leaving them with no savings, reserve and worse, no investment.

Truth is that, the rate of depreciation in the value of our currencies really affect our way of life. However, that does not mean that we should be reckless in our use of money. Instead, there are many things we can do in order to manage the little money we get.

This Post will Highlight 4 Simple Tricks we can use to control our expenditure.

Source

Spend In Cash

This sounds a little bit awkward but the truth remains that, we do not always notice how much we spend when we just transfer from our mobile app or device.
Spending with cash allows you to notice the amount of money you are going out with.
When you spend in cash, You will realize that you've spent a huge sum of money but spending directly from your app is directly the opposite. You won't feel it.

Next time, You want to go for shopping, Try this out:

Withdraw your desired amount from the Automated Teller Machine (ATM), buy the things you need, then pay from the cash you have. You'll definitely notice that you've spent a huge sum unknowingly.

Keep Records

Many Times, we end up becoming mathematicians once we are running short of funds. Trying to calculate what we used our money for and even thinking that we misplaced some of it. We often find out that we never misplaced any.
This is because we do not keep record of our income and expenditure.

Keeping records makes it easier for you to track the movement of your funds, these records too also allows you to notice less important expenses and decide to stop them.

Next Time You receive your wage or salary, Try this out:

Keep a record of the amount you received, at the end of each day, use a book or notes app to write down your expenses, indicating things you bought and their amounts. At the end of the week or month, calculate everything and make adjustments to unnecessary expenses.

Have a Budget and Stick to it

Many People end up spending more than required because they never had a specific amount in mind. Their mind is set at "Any amount it is, I'll buy". This is really damaging to our funds.

Always have a budget and strive to stick to the budget. Think of any alternatives that will help you stick to that budget. If possible, go out with that specific amount, You'll see that you can actually manage it to get you everything you planned for.

On our Next Shopping Day, Try this out:

Have a budget, go out with that specific amount, keep you Debit card or any other means of withdrawal far from sight. Believe me, You'll get your desired commodities with you budgeted amount.

Plan Towards Investing

Saving is doing us more harm that good. When you save, your money is static, it doesn't yield anything instead, it depreciates in value as long as the normal currency is depreciating.

Try to think outside the box, plan to invest any little amount you have in something, small business, cryptocurrencies, stock market, real estate and other things.

Next time You're paid, Try this out:

Dedicate a certain percentage to investing and try to forget about it. Continue that way for other months, within 6 months, try to check the value of that your investment. It must have surely added something to that actual amount you invested

Conclusion

It is never easy to stick to a financial plan, but the result is worth it.
I've tried the steps out and they're productive. I hope they will be fruitful for You too.