In this post
Hi friends, let’s talk about money.
We’ve all been there, looking at our bank account and wondering, Where did all my money go?
Spending habits can sneak up on us, but the good news is we can take control of our finances with a few simple changes.
Let’s dive into how you can spot your bad spending habits, make better choices, and even teach your kids to manage money like pros!
Enjoy and don’t forget to comment at the end, I love hearing from you and subscribe to get access to FREE printables, newsletters, the latest posts and more.
Spotting Your Bad Spending Habits
The first step to fixing a problem is knowing it’s there.
Spend a week or two tracking everything you buy.
Yes, everything!
Even that cheeky coffee on your way to work or the late-night takeaway!
Keep a little notebook or use an app to jot it all down.
When you review your list, ask yourself:
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Was this a need or a want?
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Could I have waited to buy this?
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Do I feel guilty about this purchase now?
Chances are, you’ll start to notice patterns.
These are the questions I have become accustomed to asking myself. It took months but it is worth it now.
Having that financial security and a positive relationship with money is so important. Not just for us but for our children’s future.
Maybe you overspend on eating out or buy things on impulse. Sounding familiar?
Once you know your triggers, you can start working on them!
This isn’t something you can dip in and out of though, you need to be strict with yourself.
As I said, it was worth it for us. We went from being stressed, angry at each other, and exhausted to being able to buy ourselves and our kids treats. Go on holiday and buy a house!
Small Changes, Big Difference
Making better money habits doesn’t have to mean living like a hermit. Start small!
Here are some tips:
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Set a budget: Before your month begins, decide how much you’ll spend on food, entertainment, and other things. Stick to it!
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Use cash, not cards: When you use cash, you see the money leaving your hands. This can make you think twice before buying.
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Wait 24 hours: When you’re tempted to buy something that’s not essential, give yourself a day to think it over. You might realise you don’t need it after all.
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Celebrate small wins: If you manage to save a bit this week, treat yourself. You don’t need to spend money to treat yourself either. Spending an hour on a video game or a home spa day. It’s all about balance.
Shopping Smart: What to Watch Out For
Shopping doesn’t have to ruin your wallet! Keep these tips in mind when you hit the shops:
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Make a list: You know me, I love a list! Always shop with a plan so you don’t end up buying random extras.
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Avoid shopping when you’re emotional or hungry: An easy one to avoid. But both can lead to spending more than you planned!
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Compare prices: Check out a few stores or websites to make sure you’re getting the best deal. Try these Apps for deals: Shopmium, VoucherCodes and TooGoodToGo
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Buy in bulk (but smartly): Stock up on essentials when they’re on sale. But only if you’ll actually use them before they expire. Tin tomatoes, pasta and washing powder are ideal.
How to Lower Costs at Home
Little changes at home can make a big difference. Try these ideas:
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Cut unnecessary subscriptions: Are you really watching all those streaming services?
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Turn off the lights: Save on energy bills by switching off lights and appliances when not in use. Don’t forget to unplug them too, they still use energy being turned off but plugged in.
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Cook more meals at home: It’s cheaper and healthier than ordering takeaway. Need inspiration? Download my FREE 7 meal recipes to get you started.
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DIY when you can: Whether it’s fixing something or making gifts, doing it yourself can save you heaps! Don’t buy cards, make them (or get the kids to)
Teaching Kids Good Money Habits
Kids are like cute little sponges. They’ll pick up on what you do!
Teach them about money from a young age:
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Give them pocket money: Let them earn it by doing chores and saving for something they want. Mine have been doing this for years and this is our strategy here.
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Teach them the value of saving: Use a piggy bank or open a savings account to show them how money can grow over time.
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Play money games: Board games like Monopoly or apps designed for kids can make learning fun.
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Be a role model: If they see you budgeting and making smart choices, they’re more likely to follow your lead.
Bee's Final Thoughts - Why It’s Worth It
Changing your spending habits takes effort, but it’s worth it.
Imagine the freedom of not stressing about money.
Or the joy of treating yourself to something big because you’ve saved for it. Plus, by teaching your kids, you’re setting them up for a lifetime of financial success.
So, grab that notebook and start tracking!
You’ve got this.
What are your go-to tips for managing money?
Drop them in the comments, I’d love to hear them!
Bee 🐝
Bee’s Inspired Living
