How to avoid over expenses and have discipline

[bitLeap]

Perhaps this isn't on your list, but it holds immense significance for me – the art of shaping Financial Objectives.

Frequently, we stash away funds devoid of a distinct purpose, save for the simple notion of accumulating wealth. Yet, it would prove wiser to harbor a robust rationale behind every savings endeavor. Once your objectives are vividly outlined, like say, amassing funds to purchase a home outright, eschewing installment plans, that's where your commitment gains its mettle.

There's no need for grandeur in these aims; commence with the minutiae. Begin by stowing away for a novel musical instrument, a conduit for your passion, or any other commendable aspiration.

Why isn't living in the forest on the OP's list? lol

I 100% agree and saving is the dream of many people including me. But we don't realize it when we look at it from a policy perspective where the government demands that we buy goods at high prices, taxes, electricity, living water amidst instant food and much more. Can we really apply this rule at home with different types of people's habits. Certainly not

Even though we uphold the house rules, the fact is we can't be selfish just to be a keen idealist. Because if we look at the surrounding conditions and live in society, we will know better what the reality is, needs and desires will always be there. I will not deny and advise what in real life I don't do at all.

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[Comingdown]

you can't really avoid spending too much, especially if you're extravagant. But if you can discipline yourself and control yourself, I think it's easy for you to save here. Set a budget for the month you will spend and then save the excess, but of course you also need to save for emergencies so you don't touch your savings.

I know it's very difficult, especially controlling yourself to not spend. But I think that if you do it, you will get used to it and it will be easy for you. Just don't be hard on yourself

[MFahad]

Actually people wants luxury life therefore they cannot manage their funds easily. If they do each activity according to planning then it will not be hard to live a life according to the budget and also save some amount.

There are lots of activities which are not necessary but people are involved in it like a person can eat well at home but everyone wants to eat at expensive restaurants. Restaurants are so expensive that if a single person eat at Restaurant then that money will be enough to feed five people at home.

If there is no saving at the end of month then try to know that what are the things which you should not do to save money. I don't say that living a luxury life is bad but I want to say that if everyone lives according to his budget and salary and do not Compare life with others then no will be sad in his life due to shortage of money.

[Iroh]

It's wise if we buy what we need, not what we want.
But I don't think everyone can do this because it is very difficult to do. However, if we can respect the decisions we have made to be wiser in allocating finances, this will be easier to do.

I personally haven't been able to fully do that, sometimes if I go to the supermarket or look at the online Shop when I want to buy the things I need there are always useless items that go into the basket.

It takes real discipline for anyone to have and keep with a set budget and it’s more harder for someone who spends extravagantly. But if we could be disciplined enough to follow through on a set budget, resisting the urge to purchase things that isn’t necessary, we would make better financial choices.

I think it’s best whenever you’re going shopping to first have a list of whatever you’re going to need to buy. Having a list in your hands could help keep you focused on the exact things you need and also helps to keep irrelevant items away from your basket.

[palle11]

I think it’s best whenever you’re going shopping to first have a list of whatever you’re going to need to buy. Having a list in your hands could help keep you focused on the exact things you need and also helps to keep irrelevant items away from your basket.

Being careful in what to spend money on is not only about having a list of what you intend to buy at the mall or other narkets, what is important is being discipline. If you are not discipline then you could make some spendings not listed in your book because you allowed yourself to be distracted into something else. There is no rule that says if you have written something on a paper then you can't change the figures but it is discipline that will make you not to change it. Therefore someone who is discipline not to over spend outside his budget would not do that no matter the distraction.

[Fortify]

Isn't it stressful when we spend more than expected, right? especially if we follow a budget, having a smart spending habit is a good way to avoid such situations or events.

1. Make a realistic budget
           In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

2. Find out what triggers the cost
            It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.

3. Break down luxury expenses
             Try to list the things you have spent and separate the luxury and the things you have spent. It is important that you know what is really needed and the word I deserve it.

4. Make the 24 hour rule
             This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.

5. Set a budget
            Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

That is some really good advice and tips, but there is definitely a fine line to walk which can vary with age. There is no point saving all your money and living like a pauper in your 20's and 30's only to realize that your body cannot perform as well in your 40's and 50's. When you are young you should definitely maximize your energy, travel as much as possible to broaden your horizons and even waste money occasionally trying different things even if you figure out they are rubbish. However you should avoid being too materialistic or chasing the latest phone or car, which can be expensive to own, in order to give the appearance that you're richer and for no other reason.

[irhact]

you can't really avoid spending too much, especially if you're extravagant. But if you can discipline yourself and control yourself, I think it's easy for you to save here. Set a budget for the month you will spend and then save the excess, but of course you also need to save for emergencies so you don't touch your savings.

I know it's very difficult, especially controlling yourself to not spend. But I think that if you do it, you will get used to it and it will be easy for you. Just don't be hard on yourself

You can avoid overspending if you budget your expenses very well, it's called overspending because you're spending on things that doesn't matter and when you realized that you can then easily reduced your spending. For example, if you were using an Uber, you can stop using them and go with buses or taxi for your transportation and you would have saved costs on transportation. Same thing can be done for other areas of you life and you'll have a good spending habits.

Many individuals are living above their income and that's why they don't have savings as they have too many expenses they have to handle but if they only reduced their standard of living, they'll have enough savings to handle other important expense and invest for the future.

[Oasisman]

you can't really avoid spending too much, especially if you're extravagant. But if you can discipline yourself and control yourself, I think it's easy for you to save here.

You are actually contradicting yourself. Discipline or self control over unnecessary spendings are actually a way of "avoiding" spending too much. I'm not sure what you actually mean by that, but it sounds absolute contradictory statement to me.
On the other hand, saving would never be easy, usually if the source of income comes only from your day job. Without a side hustle, I'm most certain that it's never gonna be easy to save.

[ndutndut]

you can't really avoid spending too much, especially if you're extravagant. But if you can discipline yourself and control yourself, I think it's easy for you to save here. Set a budget for the month you will spend and then save the excess, but of course you also need to save for emergencies so you don't touch your savings.

I know it's very difficult, especially controlling yourself to not spend. But I think that if you do it, you will get used to it and it will be easy for you. Just don't be hard on yourself

It looks easy to manage finances and discipline in managing finances. But it's true, as described above, we need to try, even though we can't be one hundred percent successful, at least we can manage financial expenditure that is right on target.

* buy what is needed rather than what is wanted (training the brain to think more).
* Buy something with durable quality and the selling price doesn't drop (practicing the return value assessment doesn't burn in vain) is like buying luxury goods.
* Detailed data discipline (practicing meticulous cultural habits not leaking in vain) is hard to come by, don't easily waste it.
* don't underestimate small values....if there is investment....there are also emergency savings....you will be surprised after it has accumulated for so long...it looks less valuable but once collected it has even more value.

If you are wise in managing money, you will surely develop and life must have definite targets. For example buying property, bitcoin (this is what I like because there's no loss). There is a saying "Save the base of the rich". So be diligent in saving and investing.

[Vaculin]

Focus on your needs, and disregard your wants. I know you will still be able to afford all your wants in the future if you become financially stable and secured. For now, know those things that are necessary for your survival and stick to it. That way, you will only spend within your budget and within your means, which means no overspending that will eventually ruin your financial plans. Always discipline yourself when it comes to financial matters. That’s the only way so you won’t end up relying in your debt and just learn to live within your means.

[TimeTeller]

Focus on your needs, and disregard your wants. I know you will still be able to afford all your wants in the future if you become financially stable and secured. For now, know those things that are necessary for your survival and stick to it. That way, you will only spend within your budget and within your means, which means no overspending that will eventually ruin your financial plans. Always discipline yourself when it comes to financial matters. That’s the only way so you won’t end up relying in your debt and just learn to live within your means.

Whenever you will buy something, always check if it is a need or a want.
Because that will help you gauge if you really need the item or not.
This simple technique also help me in curbing down my unnecessary expenses.
If you will just follow your desires, it will be too late before you realized, you already spent a large sum of money
for something you won't really need for the next coming days.
Always remember that those savings will help you in desperate times where nobody can send help to you.

[Oilacris]

Focus on your needs, and disregard your wants. I know you will still be able to afford all your wants in the future if you become financially stable and secured. For now, know those things that are necessary for your survival and stick to it. That way, you will only spend within your budget and within your means, which means no overspending that will eventually ruin your financial plans. Always discipline yourself when it comes to financial matters. That’s the only way so you won’t end up relying in your debt and just learn to live within your means.

Prioritize your needs indeed and its not really that bad to buy up sometimes with our wants as a form of reward from our hardwork but you should really know your limits and be responsible on  such act.

People do usually mess out on the time that they would really be spending on things which arent that important or really that in priority on which on the time that they have seen that their needs are
already depleting and they cant buy something then  this is where they would usually be freaking out.If you are really just that mindful about your priorities and responsibilities then you wont really be able to experience such problem.Usually people do only learn up things when its too late. Its a basic and common principle and condition on which majority of us do really experience out.

How much more if you do have your own family to raise? Spending out something which its not really that important and simply wasting up your money would really be bring out that disaster.
We know that we cant really be having that income forever or something that huge problems do kicks in.

[Rockstarguy]

I particularly liked your point 4. Make the 24 hour rule. I think it’s practicable and if done right, could help put off unnecessary spending.

Irrelevant purchases often happen on a whim and most people tend to give in to those urges to buy what would seem then to be urgently needed.
But if you could just put off buying that item for a while, you would realize you don’t really need it.

It's wise if we buy what we need, not what we want.
But I don't think everyone can do this because it is very difficult to do. However, if we can respect the decisions we have made to be wiser in allocating finances, this will be easier to do.

I personally haven't been able to fully do that, sometimes if I go to the supermarket or look at the online Shop when I want to buy the things I need there are always useless items that go into the basket.

It takes self discipline and consciousness to accomplish financial decisions, with these two elements it is very easy to manage expensive for financial budget. Sometimes when we buy things we Don't really need, we do it unconsciously and we later realised that the decision was made due to the result of urge and not because it was really important to get. Discipline and being very conscious of the decision made helps on how money is been spent.

This thing is not a difficult task if only one can stand by his/her decisions and never to expend money just to impress people but only go for exactly what is needed.

[trendcoin]

There are some really good propositions in the subject, but this is a subject directly related to will, and will is a metaphysical phenomenon that yields positive results only under strict rules and repetition. I do not give up my principles even for 1 cent. I adhere to my principles to avoid overspending and to save money. I have seen in my life experience that when I start to compromise for 1 cent, I turn into someone who compromises for 1000 dollars. Of course, I don't always manage to stick to my principles 100% of the time, but when I get out of control, I can see what I'm doing wrong.

[lienfaye]

5. Set a budget
            Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

Before, i'm really bad in budgeting our money and I tend to always exceeds to one thing (like for groceries) resulting to tight budget for other expenses. If you don't plan, limit and list what to prioritize first, you'll struggle financially.

That's why having a set budget for expenses is really a must to have a guide on how much you can only spend for that particular plan. I also learn to not spend more than what I can earn, this way I can still allocate money for savings that can be use for emergency. It's really effective, we just need to have discipline to avoid spending for not really needed.

[Xampeuu]

5. Set a budget
            Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

Before, i'm really bad in budgeting our money and I tend to always exceeds to one thing (like for groceries) resulting to tight budget for other expenses. If you don't plan, limit and list what to prioritize first, you'll struggle financially.

That's why having a set budget for expenses is really a must to have a guide on how much you can only spend for that particular plan. I also learn to not spend more than what I can earn, this way I can still allocate money for savings that can be use for emergency. It's really effective, we just need to have discipline to avoid spending for not really needed.

if we can run like you do, maybe no one has a lot of debt just to cover his lifestyle. nowadays many people want to look rich even though their income is not appropriate, therefore many people are in debt just to cover their lifestyle so that their friends see them as rich, and can live a lifestyle beyond their income. Such things actually torture yourself, because one day it will explode like a time bomb. However, there are also job demands as marketing which require a lifestyle like that so that it is equal to associating with rich people, because that is their business target.

[dothebeats]

5. Set a budget
            Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

Before, i'm really bad in budgeting our money and I tend to always exceeds to one thing (like for groceries) resulting to tight budget for other expenses. If you don't plan, limit and list what to prioritize first, you'll struggle financially.

That's why having a set budget for expenses is really a must to have a guide on how much you can only spend for that particular plan. I also learn to not spend more than what I can earn, this way I can still allocate money for savings that can be use for emergency. It's really effective, we just need to have discipline to avoid spending for not really needed.

if we can run like you do, maybe no one has a lot of debt just to cover his lifestyle. nowadays many people want to look rich even though their income is not appropriate, therefore many people are in debt just to cover their lifestyle so that their friends see them as rich, and can live a lifestyle beyond their income. Such things actually torture yourself, because one day it will explode like a time bomb. However, there are also job demands as marketing which require a lifestyle like that so that it is equal to associating with rich people, because that is their business target.

I completely agree with you. The pressure and enviousness a lot of people get from social media to "fit in" pushes a lot of individuals to live a lifestyle that does not fit their financial status. Instead of buying essentials for their daily needs they instead buy luxury products to show off to their "friends" and brag about it on social media for approval.

[Sayeds56]

Indeed, practicing prudent spending habits and upholding financial discipline is key for achieving financial stability is not only crucial in your personnel but also in your professional life, particularly for those involved in business activities. It is imperative to align our living standard according to our earning, as well as develop habit of setting aside some cash to address unexpected financial needs. Additionally, enhancing our skill set for generating some extra income is equally important. This extra income can be utilized to invest in precious asset like Bitcoin that can potentially yield significant rewards in future.

[slapper]

Indeed, practicing prudent spending habits and upholding financial discipline is key for achieving financial stability is not only crucial in your personnel but also in your professional life, particularly for those involved in business activities. It is imperative to align our living standard according to our earning, as well as develop habit of setting aside some cash to address unexpected financial needs. Additionally, enhancing our skill set for generating some extra income is equally important. This extra income can be utilized to invest in precious asset like Bitcoin that can potentially yield significant rewards in future.

Financial discipline? Absolutely. Aligning our living standards with our earnings? Couldn't have said it better, but it's basic knowledge, isn't it? Most people don't get that

Now, on the subject of extra income, you're talking my language. Diversifying your skills is smart; it’s something I've always done. But let's get one thing straight: Bitcoin isn’t just a 'precious asset' like some toy in a collection. It's the future. The rewards? They won't just be 'significant', they will be YUGE

Learn from the best, and invest where it matters. Bitcoin isn't just an option; it's THE option. But you're on the right track, and I respect that. Just remember to always shoot for the best

[AicecreaME]

The 24 hour rule for me should be a week rule, because that gives me enough time to think if I should really buy it.

It's not that bad to spend your money over some things that you wanted as long as you can afford it and you're not spending way too much based on your salary, if I'm not mistaken, you shouldn't spend more than 10% of your salary to avoid wasting your money in the things you only wanted, like new clothes, eating in fancy restaurants more often, buying luxury items, so on and so forth.