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Updated: Feb 12, 2020

How do those ABBA lyrics go? “Money, money, money, always sunny, in a rich man’s world.” We all love to spend money; it’s one of the beautiful things in life. However, if we spend too much money, we end up having too much month at the end of our money.

“Money, money, money, always cloudy, in a poor man’s world” would be more accurate in this scenario. So, how do we ensure we still have enough money to pay our debts and make it to payday without going on a forced diet?

Well, leave it to this article to help!

1. Give Yourself a Reason to Save Money

If you have a reason to save money, it will be much easier for you to watch what you spend. Let’s say that you want to buy a car or pay off the advance for a house.

Next time you want to buy some expensive shoes you don’t really need, you will ask yourself this question: “What do I want to do more?” Obviously, you will choose your goals and dreams in favor of the momentary treats.

2. Have a Budget

You may not need a budget – but it sure doesn’t hurt to have one. Think about how much money you need for every activity or problem.

A good method would be to have an envelope for each – or, well, write it in a notebook. Take your salary and break it down into bills, food, necessities, entertainment – and emergency. Most people skip that category, but sometimes, it can be crucial. This way, your finances won’t have to suffer great hits.

Plus, let’s say that you don’t need the “emergency money” in one month. That money can go directly into your savings account.

3. Practice Patience

“Buying fever” is actually a thing – and many of us buy things on impulse, without actually thinking it through. Even if you say you can afford it, leave it pending for a few days – or at least 24 hours. If you’re not terribly excited the next day about buying it, then it means you don’t really need it.

4. Work Your Willpower

We have to admit that in this case, willpower is the key to saving money. We all have our temptations. Some people spend half their salaries on fast food, others “accidentally” buy concert and festival tickets. However, if you have enough willpower, you will not succumb to these temptations.

At the same time, this doesn’t mean you need to give up on them altogether. Instead, try to set some limits. Allow yourself to splurge every once in a while, to get your “refill” – and this way, you won’t be tempted.

For example, if you used to hit McDonald's once a week, tell yourself that you will still do it – but only once a month. Eventually, you will no longer have to fight your urges whenever you see the place – mainly because this once-a-month habit has already entered your system.

You can easily get into better money habits. All you have to do is pull some restraint, exercise your willpower and have a plan.

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