4 Keys to Controlling Expenses

Saving Money is the goal of all or at least of the vast majority of people, but the reality is that at the end of the month there are few who are able to manage to reserve some money for future plans or emergencies.

Here are 4 keys to control expenses.

Step 1

You may be good at keeping accounts in your head, but nothing will compare to putting it into paper. One side should keep track of your income and the other side should keep track of the fixed expenses (rent, water light, etc.) Then it is time to evaluate where the rest of the money is going When you write it down, it is easier to know in where you are spending your money everyday.

Step 2

Nothing beats the classic piggy bank. Everyday you should be putting something into it, even if it is just a little. If you drink two coffees daily, start to drink only one and save the money for the 2nd one. After a few months, you will be surprised to see how much you have been able to save. It seems silly but it is infallible.

Step 3

Each time you receive your paycheck, set aside a fixed amount in another account, only to have it there in the event that later an emergency occurs or you plan a trip with your friends/family. You never know what can happen and it is better to get accustomed to that habit because at some point in your  emergency savings will be necessary.

Step 4

You should heavily evaluate if you are buying or things from the place where it is the cheapest. Try shopping around and comparing the prices for everything. It is important that you keep the receipts of your purchases so you will know if the prices of the products are cheaper in one store compared to the other.

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