12 Healthy Money Habits That Will Help You Save More
Are you ready to completely win with money in 2023? This is the year and the time! These money habits will make you feel much more empowered.
Make sure it’s realistic and that you’ve adjusted for inflation. A budget isn’t a list of restrictions. You can spend as much as you want in any category… as long as you write that spending into your budget and the math works.
2. Identify needs and wants
Go back over the last three months of your spending. Highlight everything that is a restaurant, concert ticket, clothing shop, Amazon, and Costco. Add up the total and you will see why you aren’t reaching your financial goals.
Needs: housing, food, utilities, clothing, and transportation. Wants: vacations, furniture, luxury items, Amazon browsing, restaurants, entertainment, and grocery treats.
This simple money habit makes it easier to manage all your bills.
4. Avoid the debt snowball
Lists your debts and make a plan to systematically pay them off
5. Delete autofill
An easy way to save money is to delete your Paypal and credit card information. If you have to get up to get your card, chances are you won’t buy it.
6. Avoid Amazon
It may be convenient, but it’s also a temptation.
7. Wait for 48
Let items simmer in your online cart for two days to curb impulse shopping
8. Avoid lifestyle creep
How does it happen that people making $200,000 a year live paycheck to paycheck? Sometimes people’s incomes go up, and their lifestyles start to get more expensive as well. They buy a bigger house or a better car.
It’s better to keep that safety gap between income and spending, so if you start making more, simmer down with spending until you get acclimated.
9. Avoid temptations
Figure out what tempts you and avoid that thing. Don’t go into Costco “just to look.”
10. Separate savings
Keep them in a different account than your ordinary savings account.
11. Make more money
You can make more in a side hustle than you can save by splitting hairs. There are so many opportunities out there if you are creative.
Ignore what everyone else does with their money. Do what's best for you.
Healthy money habits
If you don't like where you are financially you can change it, there are so many different ways to change it. You can have anything that you want, you just can't have everything that you want. What are your spending priorities? Let us know in the comments.
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