Taking Control Of Your Spending
Thursday January 20, 2011

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{A simply luxurious life, while full of the concept less is more, luxuriates in the decadence of high quality, complementary style and an appreciation for the beauty that surrounds us in decor, fashion, nature and people themselves. One does not need to maintain a balance in the bank that one might associate with a millionaire, however, it would be a mistake for me not to address the fact, that being secure financially – just the knowledge of this fact – brings about a priceless piece of mind that contributes greatly to a well-balanced simply luxurious life.

With that said, peruse through the entire archives focused on Money here where I focus on sharing a bit of financial food for thought that will help you create a sound financial life that makes it possible to make the choices that will help you create the life of your dreams.  Because after all, simply having choices is a luxury – enabling independence, however we might choose to go about our every day lives. }

Do you feel like money has control over you? Do you feel like you can’t get a handle on it? Or maybe you just want to give your spending a bit of a break and begin saving more.  Wherever you may be in your life regarding money, getting it under control and keeping it under control are imperative to a successful financial future. Over the next few weeks, I will be sharing two tips per post from David Bach’s book Smart Women Finish Rich.

Why only two you might ask? Well, while we sometimes want the information now, all at once, we often become overwhelmed and end up tossing all help aside when we’ve taken on too much.  So I’d like to suggest (and I’m following my own advice as well) to those of that would like to gain a bit more control over your finances, to try and incorporate the two tips that are suggested each week into your life as they are suggested.  By gradually adding, it is my hope that they will be more likely to remain a habit that you practice on a regular basis on your road to financial success. Let’s get started!

1. Use Only Cash

In other words, if you don’t have it in the bank, don’t spend it. This will temper your spending and will at first be difficult if you’ve been using a credit card for many purchases. However, once you start to practice this habit, you will feel better with every purchase because you know that you have the funds to back up your decision.

2. Keep A Daily Record

At the end or beginning of every day, write down into your budget sheet (excel, mint.com, or whatever source you prefer) what you have spent. This will not only keep you accountable, but you will be able to visually see what you are spending as it adds up.

Click here to view part two of this series.

15 thoughts on “Taking Control Of Your Spending

  1. Good advice. I write everything down in those deposit books. I started keep track of my “fashion” purchases 2 years ago in an excel sheet, it’s interesting to review. My friends are shocked when I tell them I don’t have a credit card. Material possessions aren’t worth going into debt for!

  2. I always enjoy your posts. …learning with style..
    I try use cash, I do not have a credit card, I keep all my receipts, I do not go out as often as I would love to, I have cut down on lots of fun stuff.
    If your goal is to be rich, in times like these, you are probably going to fail (unless you marry a wallet not a man).
    If your goal is to be financially independent and be successful in your work or business and you are driven by sincere passion and hard work, you are probably going to be happy.
    Happiness will give you good health. And you are privileged because most people may head for money but end up sick or lonely or wondering what is wrong with their life. They mess it up. But if you stick to some rules, for example like the ones you indicate, it will work out for you. Am I talking to myself?


  3. Mosaicista Appassionista – you are so true on all accounts. Thank you for sharing your thoughts and your experience. Happiness/contentment is priceless and if we aren’t spending our time doing something we love, no amount of money will make us truly content.

  4. Julie Victoria – I can understand your concern. However, Mint.com uses the same security that all US Banks online use. The format is “read-only” so no one, even if they log on as you, can move money around. I hope this helps. When you visit their site, it is very easy to use and answers any questions you would most likely have.

  5. Such great tips. I keep a little notebook most often, just for expenses, so that I can keep an eye on things… I have learned to be more careful as of late, as so many have also. These tips are extremely helpful — your posts are always inspiring, in so many ways 🙂

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