At the end of every month, people often complain about their income because they do not have enough money left to save or use it in one or another luxury or spend leisure time. Still, they continue worrying about money but do nothing to solve their financial situation.

Yes, it is true that there are people with very low income that hardly serve to support their families and cover their needs. But on the other hand, there are individuals who improve their salary but go through the same problem of not having enough money left to spend at the end of the month.

This happens because of not managing the money wisely. We never make a budget, we don’t save, invest for the future, and don’t even know how much debt we’re adding each month.

No matter if you have started working career or have many years of experience earning income. It is very important to be organized in such a way that you are clear about what is left monthly, how much money you are spending or investing, and whether it is necessary or not to seek to get more income.

With this list you will be able to identify unnecessary expenses in your day to day life and eradicate them for a month. So that you can see that you can effectively save an interesting amount of money. And the best of all is able to reduce the anxiety to buy everything that comes your way.

#1 Food Products: If you are amongst those who end up buying everything but the indispensable foods needed for your balanced diet, it is better to reconsider. Food items such as cookies, sauces, packaged foods and six-packs of soda shoot up the grocery bills. And if you reduce some of them, you will definitely notice a good change. Best is to buy indispensable things, in bulk, which will last longer and save money.

#2 Morning Coffee: Although it sounds easy, it is not as simple as it seems because there are people who follow a sacred ritual to take one cup of coffee when they wake up, another when they arrive at work, one more in the afternoon and a last at the end of the day to successfully close their work activities. And for them it is very difficult to put off this drink aside.

However, there is one thing that will motivate you to do so: Add up the money you’re spending daily in the cafeteria. If you buy 4 cups a day (@$3 per cup), you’ll find you’re spending an average of $4,000 or more a year.

And if you want one more reason, think about your health as too much of coffee is not so good for the body. It leads to increase in blood pressure, insomnia, increase rate of heart attack and so on. If you are taking coffee as an alternative to beat hunger it is better to include a few bars of cereals and carry it daily to the work.

#3. Alcohol: If you don’t like beer or drink, skip this item. But if you accompany this drink with your lunch, evening or the vast majority of weekends, it is worth to pay attention. Because ‘alcohol’ is becoming exaggerated. Remember one thing, “once a year doesn’t hurt,” but when they’re frequent, they don’t just affect your health, they also affect your wallet.

#4. Clothes: “Those shoes would look great on me”. Does this phrase ring a bell? If you are one of those who take out on credit every month to buy a shirt or an accessory, you may be addicted to shopping. Ideally, your goal should be to gradually stop buying any garment or accessory. Initially you can start with a month, then two months, and so on until you save a good amount of dollars.

If it is very difficult for you to say “no” at the beginning, preferably avoid visiting the mall. And do not carry credit card in your wallet.

#5 Personal Care Products: It’s okay to take care of yourself. But for that you don’t need to splurge money on expensive brands and buy product for each part of the body. There are people who buy personal care products for hair, face cream, another for the hands and a different one for the legs. Even worse, they decide to spend a little more money because they like the packaging or the color. That’s why it is recommended that you buy what is strictly necessary. If you run out of toothpaste or brush of course you should replace it, but never exaggerate.

#6 Paying Uber or Taxis: Public transport is complicated, most of us know. However, in many occasions individuals take this type of transportation because of laziness or because of the ease of reaching home earlier. But, by doing a deep analysis, you will realize that much of the money from your income is being spent there and many a times, on short trips. If you really want to save and contribute to vehicle chaos, use a bicycle or walk. You will see significant impact on your health and pocket.

Bottomline

You should follow a monthly habit like a company does. It is about making an overall balance to your financial situation. But before making this evaluation you must be willing to be honest with yourself. Because you must include each of your expenses, even if you think that these are not so relevant. Because you may be surprised to realize that maybe these are the ones that are making a big hole in your pocket.

It is even possible that during the exercise you may find out that you have problems with compulsive purchases and that you cannot visit a shopping mall because you end up spending the money on the rent, the cell phone bill or making card advances without it being necessary.