Do you want to improve your budget – if so, there are plenty wallet hacks to get your money on the right track. You have control over your personal finances. And if you're always overspending, there are tricks to improve your situation. Here are seven wallet hacks to help you stick with your budget.
Writing down your financial goals is one of the best wallet hacks to stick with your budget. Grab a piece of paper and write down your financial goals. These might include buying a house, paying off debt, starting a business or building your emergency fund. Fold the paper and place it inside your wallet -- right in front of your debit or credit card. Any time you're tempted to make an impulse purchase, pull out the list and review your goals.
If you only carry your driver's license and other important information, such as your auto and health insurance card, you're less likely to spend money. This way, you can enter a store and avoid the temptation to pull out your debit or credit card and spend money you don't have.
Personally, I feel comfortable knowing I have an emergency credit card in my wallet, just in case. If you don't want to remove your debit or credit card from your wallet, consider locking your wallet in the glove box if you only plan on browsing or window shopping. With your method of payments inside the car, it'll be easier to leave a store without making a purchase.
Right now, there are several apps that let you save your debit card or credit card information on your phone. This makes for easier check out. But unfortunately, saving this information on your phone also makes it easy to shop impulsively. You can leave a credit card at home, but if you have your phone in your pocket or wallet, you can still make impulse purchases.
Likewise, if you have a favorite retail store, don't save your credit card information on the retailer's site. It'll also be easier to shop. With your information saved, you can make a purchase in just a few clicks without ever reaching for your wallet.
Whether you're going to the grocery store, a movie or hang out with your friends, decide a reasonable amount to spend for the evening, and only bring this amount in cash. You're forced to spend only what you have.
People underestimate the usefulness of making a list. This is one way to stay focus when shopping. The trick, however, is sticking to a list. Don't get sidetrack and start looking at things not included on the list, or you might be tempted to toss extra items into your cart and exceed your budget.
Staying on budget is one of the best ways to ensure you have enough cash to get through the month. But unfortunately, impulse shopping can break your budget and complicate your finances. What wallet hacks help you stay on budget?