More Smart Spending Ideas

I Love Making Money
8 min readDec 17, 2020
Smart Spending Ideas — How to Save Money and Stop Spending So Much Money

Now that you’ve changed your financial mindset — and you’re committed to making it a lasting change — here are a number of other concrete ways you can spend more wisely and value your hard work.

· Make a shopping list — and stick to it! For example, grocery shopping makes up a significant part of your spending. Before you go, make a list of what you need. Plan the week’s meals. Then buy only what you need — don’t bother with the “just in case” stuff or be tempted to pick up a few impulse items. And don’t go grocery shopping when you’re hungry — you’ll almost always spend more!

· Plan ahead for purchase you’ll make. If you wait until the last minute, you’re at the mercy of whatever is available, at whatever the cost. Even if you still have a quarter tank of gas, fill up if you’re near the lowest-price gas station in your area. If you’re out of milk and your only option is a convenience store… you’ll pay too much.

· Delay purchases. You may think you need — or maybe you just want — something right now. But do you really need it? Wait a week… or better yet a month… and see if you change your mind. Often, our emotions drive us to get something now. If you let yourself “cool off”, that desire may go away, saving you a lot of money.

· Carry cash. That way you can only spend what you have, and you’ll make smarter choices. In fact, here’s a thought: Try only using cash for a week. No checks, no credit cards, no debit cards… just cash. Your spending will most likely go down when you have to take out cash to pay instead of swiping a card. Cards are easy spending; cash is hard.

If you have credit card debt, then try the debt snowball method or a consolidation. You could also get a credit card consolidation loan. I used a service called Payoff, which combines all the payments into one. That frees up cash to pay down the principal.

Related Articles:

You could also check out this paid off guide to get out of debt.

· Try store brands. House brands typically cost 20 to 30% less than name brands, and often are made by the same supplier. Why pay extra for a fancier label?

I Love Making Money

Kit Elliott is the founder and CEO of I Love Making Money, an independent publisher specializing in making and management training, guides and reviews.