7 Smart Ways to Spend Less ...

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Smart ways to spend less isnโ€™t going to be a list of tips about how to cut costs but more some pieces of advice about money management in general.

I think we all know that ways to spend less include buying in bulk, making a list before you go grocery shopping and sticking to it, shopping in the sales ...

that list goes on.

What I want to present, are ways to spend less that require you to take hold of your finances and make them work for you;2

more long term goals than short term gains.

Here are 7 Smart Ways to Spend Less:

1. Get Organized

All of your important financial documents should be organized in one place, neatly filed.

How you do it is entirely a matter of preference but also consider the value of some of your papers and how they should be stored.2

Check out this post for some valuable tips.

Being organized helps you spend less because it gives you a handle on your finances.

Itโ€™s the basis of being able to formulate a budget.

2. Create a Financial Plan

Please do note how I have said financial plan and not a budget - distinctly different, a budget is the mechanism for understanding where your money goes and identifying where you can save money.3

I still advocate that everyone should have a detailed budget, but one of the smart ways to save money and spend less is to formulate a financial plan.

Donโ€™t be woolly!

Decide what you want to accomplish in the next year and plan to achieve it.

What will you do, how much will these actions save and how will you use the savings to work best towards your plan.

3. Be Tax Smart

One of the more gratifying and smart ways to save money and spend less is by paying less tax.

Even though itโ€™s a very boring subject, take some time to research all the taxable deductions you might be eligible for โ€“ thereโ€™s bound to be some you are ignoring.

Check out these.

Be strict with your tax receipts.

Take good care of them and theyโ€™ll help save money.

If you want to be electronically organized there are tools available - is a good example.

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