Take Control of Your Spending in 2007


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Sometimes when you go over your finances, it is often compelling to worry about how all that income was spent. For most people, money appears to just slip away in small amounts. Ten dollars here, twenty dollars there; all these seems to add up to reasonable and sometimes disturbing expenses. Of course, it is also normal to protest that you are not spending any extra amount. But that won't solve the problem.

Come to think of it, we all waste money on a regular basis. Worst still, we don't even have to think about this expenses. The first step in taking control of your expenses is to critically look into where you spend your money without any thought. We all have cravings and illusions that eat up our money. These are where the major chunk of our wasteful spending goes. Once you know what habits are costing you money, you can take steps to fix them and start working towards controlling your expenses.

There are so many things that we argue that we simply can't live without. We argue that these items make life easier and without them, life will be difficult. However, in the real sense these items only make us spend unnecessarily. For example take a look at the numerous charges and fees you pay monthly. The call forwarding feature that you never really make us of, the unlimited long distance calls that you never really need, the faster internet connection that is not actually faster than what you've been using; are all things that make you waste money without realizing it. Look into all the extras you pay for on a regularly basis, differentiate between what you can and can't live without. You will be surprised to realize that you can do, conveniently, without those extras. And your savings will be better for it.

Taking control of your expenses also require you to be mindful of every charges, fees or commissions you pay. In most cases, people just pay whatever they are charged even if it incorrect. In 2007 resolve to pay only what you owe. Cross check every bill you receive and have any error fixed before you pay. Even if it's just $10, it is still your money and it is better saved than wasted. Paying for bills you didn't owe could take another dimension. Think about it, how many times, in the past year, did you signed up for memberships that you never took advantage of? For examples, gym memberships that you didn't cancel for months after signing up and never going or credit watch programs, credit insurance and access fees for websites. Resolve not to pay for what you didn't use this year.

The bottom line here is that you should pay more attention to where your money is going. To take control of your finances, you have to be aware of everything financial transaction you make. Train yourself to properly think about every financial decision you make and carefully select what you really need and don't need. Of course, you won't see the results tomorrow, but start spending consciously today and over time; you will surely see your finances changing for the better. Make 2007 a better financial year!

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