How Much Money Do You Waste Every Month?



Do you know how much you spend each month – and more importantly what you spend the money on?

Probably not.

But maybe it’s time you took more notice of how you spend your cash by tracking expenses and making sure that you get value from money from every penny you do spend.

The best way is by keeping a spreadsheet, or personal budget apps such as Mint, You Need A Budget or Personal Capital.

Money saving tips

There are dozens more similar personal budget apps out there, all you need is the discipline to keep the app up to date and some tips on how to cap your spending:

  • Scrutinise what you spend – The chances are you spend a lot more than you think on takeaways, coffee, sandwiches and subscriptions you do not use.

Try getting up 10 minutes earlier and taking a flask or a packed lunch to work. Not only is this a lot healthier, but it’s cheaper as well

  • Direct debit savings – Send the cash straight to your pension from your salary and you won’t be tempted to spend the money on something else


  • Don’t spend, invest – Get out of the habit of finding things to buy and think about how to save and invest instead. Money just evaporates as you walk around the shops buying more stuff you don’t need


  • Park the car – Walking and cycling instead of driving may be more suitable for some than others, but leaving the car at home can cut fuel and parking charges significantly while making you fitter


  • Shop online – Compare prices and shop on the internet and you can save a fortune on the same goods in high street stores. You can also save money by buying in bulk from online retailers


  • Become tech savvy – Tech savvy means don’t buy a phone or tablet because of the colour of the casing, but buy according to your needs. Invest in technology that is smart and saves you money, like thermostats that cut heating costs and LED lights


  • Bin big brands – everyone likes the kudos of Apple and other big brands but plenty of other providers offer the same service for a lot less money.

Don’t be scared to spend

Don’t forget there’s no point in cutting corners to save cash unless you leave the money in the bank and not spending it on something else.

You also need a life, so while comparing prices and watching what you spend is sensible, no one should be scared of spending a little here and there to make their life more comfortable.


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Chris Ferguson

About Chris Ferguson

Chris formed Credence to bring credible financial advice to the offshore marketplace. Chris has been in financial services throughout his whole career, with experience in the GCC, United States, United Kingdom and Australia. Chris entered the financial services sector to enable as many people as possible benefit from freedom and choice in life by making good decisions rather than experiencing stress and anxiety over money.

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