Eight Ways to Reduce Your Cash Footprint

When preparing your family for the worst of contigencies, there’s more to consider than what you need.

One of the often overlooked aspects is preparing here and now to optimize your situation to have more resources to put into what you need to build up to not only be prepared for the worst of contigencis, but also to help make your family more independent.  A key factor in this is lowering your cash footprint.  Here are eight ways to reduce your cash footprint.

Eight Steps to Stop Overspending When You Don’t Know Where to Start

#1: Nip problem areas in the bud.

One common culprit of overspending is plain ol’ convenience. The fact that credit cards are so easy to use is one of the reasons people get into credit card debt, after all. You just swipe your card and worry about it later, and you may not even get a bill in the mail for weeks……

 

#2: Set up rules to prevent impulse purchases.

Tom Drake, Canadian blogger and the founder of MapleMoney, says he used to have a weakness for impulse purchases. There’s always a new gadget to buy or a great sale going on, he says. If you’re not actively limiting yourself, it’s far too easy to shop until you drop – or until you’ve spent all your money and then some……

 

#3: Switch to a cash-only diet.

While some people can use credit cards without racking up debt or spending too much, not everyone has the discipline, the desire, or the time to keep track of their purchases and their credit card balances. One way to avoid racking up debt is to switch to paying cash for everything – or at least all your purchases that fall within specific categories…….

 

#4: Look for ways to avoid temptation.

Sometimes our lifestyles work against our financial goals. Either we work in a job that causes us to spend money, we live a little too close to our favorite store or the mall, or we constantly find ourselves in situations where people around us urge us to overspend……..

#5: Start using a budget.

If you overspend each month and can’t figure out where you go wrong, it might be time to start using a monthly budget. Your budget doesn’t have to be overly complicated, nor do you have to use computer software if you don’t want to……

 

#6: Set up separate bank accounts for categories where you overspend.

If there are areas of your budget where you always over-do it, setting up a separate account to cover those purchases may help you learn to live within limits. This is what Kate Horrell did when she got tired of overspending at the grocery store, and she says it works rather well…….

 

#7: Track your spending.

Another way to get real with your spending is to track every purchase you make. When you track your spending, it’s impossible to hide from financial decisions or continue living in denial…..

 

#8: Find cheaper ways to get what you want.

Finally, you don’t have to cut everything out of your life to get your spending back on track. In some cases, you might just need to find ways to spend less on what you want.

Read More at The Simple Dollar

Editor’s Note- These are only excerpts of each of the eight steps.  Be sure you visit the source to get the full details of each of the eight steps.

About Paul Gordon 2928 Articles
Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines. He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv