5 simple ways you can get better with your spending

Making money isnt as easy as spending it. You can expend your energy and time working to make N100k in one month and before the end of that month, your bank account is already empty.

This happens to a lot of people and it is not about the village people standing on anybody's case. It's their spending habit.

Being good at spending your money does not really require a math skill. In fact, nobody excepts you to be a professor in mathematics or banking and finance to understand how to spend your money.

See, all you need to is a sound financial skill that guides your spending, controls your debt and helps in actualising your financial goals. That's all you really need.

So, talking about how to get better with your spending, here are five useful ways to manage your spending. And trust me, these tips will prevent you from living from paycheck to paycheck.

1. Think before you spend

When you are faced with a spending decision, don't just assume you can afford the item you intend to buy. You need to hold on a little to check if you can really afford this item.

Also, confirm if you've not committed the fund you are about to spend on this item to another project or expense.

2. Have a Budget

Budget is always a talking point when it comes to personal finance. You really can't attain your financial goals if you don't have a mechanism that controls your spending. This is where budgeting becomes very important.

If you are very bad with money, having a budget and sticking to it is all you need.

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3. Use the budget

Having a budget that outlines your spending in a month is one thing, having the discipline to follow the budget is another.

You'll always need to refer to your budget every time to guide your spending decisions. You'll always need it to track how much you have spent, how much you have left and how much you are saving.

4. Make sure you are paying the best prices

A lot of people aren't good at pricing. Pricing is also a skill you need to guide your spending.

You can save a lot of money when you compare the prices of an item before you decide to buy it. Always make sure you're paying the lowest price for any product and service.

5. Save up for big purchases

Big purchases require big money no doubt. So, your ability to delay the pressure of having this big item is extremely good for you.

You really don't need to be pushed to make a hasty decision about any item. You need to be very sure if having the item is actually necessary and if it is, just chill, compare prices before you decide.

By saving up, you avoid the pressure of taking a loan or using your credit card, If you do, the debt is yours and it might affect other genuine expenses.