Friday, February 23, 2007

How to save money

Here is a very good tip I found at This tip can be useful for people who are unemployed and want to cut down on their expenses.

To cut down on your expenses, keep a spending log. Track your spending - those lunches out, the online shopping, fuel expense for the long drives etc. By keeping track of your spending activities throughout the day, you can become aware of which expenses are essential and which can be avoided. You can then effectively lower your expenses at a time when you are waiting for your next job or even while you are in a well paying job (who doesn't want to save a few bucks).

Isn't this a cool advice to become aware of our spending habits and cut down our expenses? What is your opinion on this?

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Bernard said...

It takes a lot of discipline to do that. I have tried that for a month and after a while I just stopped.

Syd said...

It takes discipline to do this. However by maintaining a log you can become more aware of your spending habits, and awareness is the first step towards a positive change.

Even if you had failed in your previous attempts, you may have noted atleast some improvement in your spending habits.