7 Amazing Tips to Keep from Spending Money ...

There are several tips to keep from spending money. Whether you are looking to reduce your expenditures, increase your personal savings account or modify your budget, learning how to keep cash in your account can help you reach your financial goals. Unfortunately, reducing your spending can be tricky however, here are seven amazing tips to keep from spending money.

1. Deposit Your Paycheck into Your Savings Account

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If you’re looking for tips to keep from spending money, deposit your paycheck into your savings account. Unfortunately, you're only allowed six no-fee withdrawals from a savings account each month. Therefore, you’ll need to plan accordingly. Put your money in savings and take out only what’s needed to cover bills.

2. Do Not Carry a Credit Card in Your Wallet

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The more plastic in your wallet, the easier it’ll be to spend. Some people keep an emergency credit card in their wallet, but with a card easily accessible, it'll be hard to resist sales and other seemingly impressive deals. Keep your cards out of sight, such as frozen in your freezer. If you prefer an emergency card in your wallet, carry the card with the lowest spending limit. This reduces the likelihood of major debt.

3. Only Carry Enough Cash for the Day

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Similar to a credit card, the more cash you have in your wallet, the easier it'll be to spend. Going forward, only carry cash that you’ll need for the day. This way, you only spend what's necessary, and you're able to save the rest.

4. Give Yourself a Splurge Budget

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If you always deny yourself, you might overspend later. It's okay to shop, but moderation is key. For that matter, after receiving each paycheck, give yourself a reasonable splurge budget. This is free money that you can use for anything you like, such as lunch, clothes, a manicure or another special treat. This budget will vary depending on your income, perhaps $30 to $50 per paycheck.

5. Stay Away from Retail Stores

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If you have a shopping problem, stay as far away from retail stores as possible. Even if you only visit a store to browse, you could end up spending money. However, this advice doesn't only apply to brick-and-mortar stores. If you’re a big online shopper, avoid your favorite retail websites.

6. Do Not Shop with Your Friends

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If you need to buy something, go to a retail store alone. It might be more fun to shop with friends, but if your friends money goals are different from yours, they may encourage you to spend outside your budget. And if your friends are spending money, you might be tempted to spend in order to keep up.

7. Always Shop with a List

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Whether you're buying groceries, clothes or other personal items, always use a list when you hit the stores. With a list, it is easier to only purchase the items that you need. It also reduces the amount of time you spend browsing stores, which reduces the likelihood of impulse shopping.

Keeping money in your bank account is much easier than you might think. In most cases, it requires a careful shopping plan and you’ll need to adjust how you shop. Curbing your spending may be tough, but it's worth the effort.

What other tips have helped you keep money in the bank?

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