Controlling your spending habits

Being able to control what you spend is crucial in getting out of debt. The easiest way to cut costs is to find out what you can cut and what you can't cut.

Let's take my budget for example. There are three items that I can't

cut because of how fixed they are. Those items are my mortgage, my daughter's daycare, and my debt. Now, there are ways to lower these amounts whether it's refinancing your mortgage, finding an alternative daycare provider, or consolidating your student loans or other loans.

But assuming you've done all you can do like we have, then we're sitting at about 83% of my spending I can't touch or do anything about. Now, this number may scare some but we're working on getting out of debt right? So that percentage will slowly go down over time. We got this!

Now, the other 17% we can move around and change to an extent. That percentage consists of Utilities, Cable, Groceries, and Gas. Some ways you can cut these cost is by looking for discounts or rate cuts for your cable and some utilities. I call my cable company and my Auto & Home insurance companies every 6-7 months to see what kind of deals they have. You can save anywhere between $50-$100 if you're lucky!

The most control we have is Groceries and Gas. Some simple ways to save on grocery shopping is to look at flyers and sale items. You can also look around at other supermarkets to find the best deal, the same goes for gas stations. You should also set a limit. Like saying, I'm not spending more than X amount on groceries or gas.

The ultimate goal is to get that 83% down so we can save more and have Financial freedom to do whatever we want! If I were to pay off all my debt that percent would go down to 58% which is a lot less scary then almost 90%.

What do you do to save money? Tweet me @Ditchindebt or comment down below!

Comments

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