In the era of Amazon Prime and Deliveroo, your spending on food and entertainment has increased. You find yourself buying food, clothing, and entertainment without thinking. When you stop looking at the bank account, you realize you’re living paycheck to paycheck. You find yourself stuck in a shopping lifestyle and never move forward.
We also spend a lot on our wardrobes because fast fashion is a vast industry, and we can’t forget our utility bills and monthly subscription services. Where, then, to start working toward breaking your bad spending habits and addictions by taking small steps? Today, you’ll find out how you can cut down on these areas to save yourself some money.
We’ll also examine some simple changes you can make to your lifestyle to stop spending money on food, clothing, and entertainment.
The 5 Most Common Areas of Overspending
Most of the time, we attribute our excess spending to five reasons:
- Spending Money on Food.
- Spending Money on Eating Out and Street Food.
- Spending Money on Clothes.
- Spending Money on Entertainment.
- Spending Money on Unnecessary Things.
A famous proverb says, “Stop Spending Money You Don’t Have to Buy Things You Don’t Need to Impress People You Don’t Like.”
I know that sometimes it is tough to avoid and control all your extra expenses on delicious food outside, your desired clothes, regular shopping, partying with friends and family, and much more.
But to live a good financial life, you must stop all your extra expenses at any cost to be financially free and save money for your future. Let’s know how to stop spending money.
How to Stop Spending Money on Food?
After the mortgage, car payments, and other significant expenditures, most people spend their money on food. Yes, you heard the right thing. Spending money on food can be a reason behind any financial crisis. To stop spending money on food, you must change your approach to grocery shopping and supermarkets for food buying.
I have some money-saving tips on food to help you spend less at the supermarket.
1. Research Prices:
One of the easiest ways to stop spending money on food is to learn SALE. When stuff is on sale and then buy it. The pricing study is challenging. Before purchasing, list the items you need to buy.
2. Stick to Your List:
Making a list of groceries will help you spend far less on food, but only if you commit to sticking to the list. Because when you move into the supermarket, you can’t put blinders on, you’ll need to train yourself to disregard or avoid other parts of the shop.
3. Eat Before You Shop:
When you’re hungry, never shop. Experts say this is the best money-saving advice you’ll ever get. When you forward yourself to the grocery store before you have the option to eat, something magical happens the minute you set foot inside the store. Everything you need to buy and eat right now looks like something. If you need to know how to stop spending money on food, you must always learn to eat before shopping.
You do not need to stop spending on the food budget, but at least you can plan it effectively. Let me help you with the following eight money-saving ways on food-
Different Ways to Save Money On Food:
- Set a budget and create a grocery list
- Plan budget-friendly meals
- Avoid expensive food- Eat less meat
- Keep yourself away from meal delivery service apps
- Buy your groceries in bulk
- Organize your pantry using expiration dates
- Reduce food waste
- Embrace eating leftovers
How to Stop Spending on Eating Out and Fast Food
Eating fast food is not a definite concern, but regular spending on street food can be. An average of 54% of people used to go to restaurants for lunch and dinner twice or thrice a month with their friends and family. And 64% of food lovers are habitual of street food and fast food like pizza, burgers, rolls, etc.
This spending on eating out and fast food affects your monthly budget. So, Stop Spending on Eating Out & Fast food. Plan to go out only occasionally.
Best Ways To Stop Spending Money On Food
- Do your breakfast, lunch, and dinner on time to feel well-rested at other times.
- Avoid office/college/school canteen food. Try to bring a snack box with you.
- Fast food causes obesity, diabetes, and other health issues. Think about it before you think about eating out and nutrition.
- Read health magazines and books.
- Avoid late-night parties, and spend your free time with your family.
- Plan to go out only occasionally.
- Don’t let your mind think about food. Try always to engage yourself in work.
- Early to Bed, Early to rise, Makes your mind healthy, wealthy, and wise.
How to Stop Spending on Clothes
To stop spending money on clothes, consider the following essential factors:
1. Think Long Term While Buying Clothes
In your overall budget, apparel and clothes that last longer can be better and can help reduce clothing waste. Cheap is better, but only sometimes. Stop spending money on cheap clothing. Go for quality clothing that not only suits you but also runs longer. This technique will help you a lot in saving money.
2. Buy What You Need
Another essential thing to remember while shopping for clothes is to Purchase clothing only you need. Often we go to the shopping mall to shop for socks and find discount offers on shoes; as a result, we also buy them. Avoid such unnecessary shopping.
3. Create A Budget Line
You can also set a monthly spending limit for clothes shopping. The best way to limit spending is to create a budget line or define clothes. Set a standard limit. And don’t go over it. Budgeting is an accurate way to stop spending on clothes.
How to Stop Spending on Entertainment
There is no denying that entertainment is essential in our lives. It can provide much-needed relief from the everyday grind and help us relax and unwind. However, it is important to note how much we spend on entertainment.
While it’s okay to have a little fun now and then, it’s not worth going into debt or sacrificing other critical financial goals to finance a lavish lifestyle. There are lots of ways to enjoy yourself without breaking the bank.
Best Ways to Stop Spending Money on Entertainment
There are many ways to save money on entertainment expenses. Here are important tips:
- Plan and set a budget. It will help you spend less on entertainment.
- Look for deals and discounts. There are often ways to save on tickets and other entertainment expenses.
- Be creative. There are many free or low-cost entertainment options available.
- Take advantage of free events. Various communities organized free concerts, movies, and other events.
- Use your library. Libraries offer free or low-cost entertainment options, including books, movies, and music.
Now, the next time you or someone else is tempted to spend money on entertainment, ask yourself if it’s worth it. You may be just as happy – or even happier – without it.
How to Stop Spending Money on Unnecessary Things
Avoid spending money on unnecessary things. Sometimes we buy something just because they are on sale, not because we need them. This excessive purchasing can cause significant financial issues.
Important Tip: If you don’t need it, don’t buy it. No matter what “percent off” it is.
Always remember that you have to save money and say, “I am a money saver.” Because this formula always works, especially when you are in any supermarket.
The best way to stop spending money is to avoid things that make you want to spend, like those stores that carry to buy your favorite items.
Best Ways To Stop Spending Money On Unnecessary Things
78% of unnecessary spending includes food, entertainment, and shopping. Try to limit such things which need money from your pocket.
- Create your buying list before going shopping to avoid unnecessary shopping.
- Prepare a shopping list and stick to it.
- Stick to your buying list when you go shopping, don’t look at another counter.
- Spend less time in any shopping stores.
- Only go to the supermarket with reason.
- Avoid impulse buying because of SALE Offers.
- Avoid late-night parties and eat out with friends and family.
- Avoid outing entertainment habits like clubbing, gaming, movies, etc.
- I prefer cash payments instead of credit card payments.
- Avoid street fast food like pizza, burgers, etc.
- Always prefer your health first so you can quickly eliminate outside food.
- Create your monthly budget for every expense to keep a record of your spending. You can use budgeting apps for the management of your costs.
How to Stop Spending Money For 30 Days
Financial freedom is a huge deal. Sometimes it seems challenging to avoid spending, especially when we talk about a family of 4-5 members who regularly need groceries, clothing, food, and other retail shopping. And in such cases, if someone tells you to stop spending money for 30 days. It seems too challenging to do.
But what if this technique turns into magic and saves money for you? Yes, now it is becoming interesting. Stopping spending money for 30 days means stopping buying unwanted things.
How To Not Spend Money For A Month?
- Challenge yourself and create a budget sheet and follow it.
- Download a stop spending money app to keep records of your spending and track your expenses regularly. It will help you track unnecessary expenses you can exclude from your spending list.
- Don’t go beyond the limit. Avoid all unnecessary shopping, eating out, fast foods, extra clothing, and other unusual expenditures.
- Apply this method for 30 days only; as a result, you will spend 20% less than last month.
- This is your extra savings.
Conclusion:
STOP SPENDING MONEY is the first step towards SAVING MONEY. Taking control of your expenses leads you to be financially strong.
Spend Less Saves More. Always remember “The Micawber Principle”:
“Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result in misery.”
-All the best!
