Tip # 1 – Keep Your Receipts 

Keeping your receipts is a great way to keep track of your spending habits. Each month you should go through the receipts and separate the necessities from the not so necessary items to determine where you’re wasting your income.

Tip # 2 – Keep a Weekly Budget

Verbally saying “I’m only going to spend $100 this week” is not as effective as writing it down and breaking down exactly how you plan to spend each and every dollar. Try keeping your budget in your cell phone; a place where it’s easily accessible. There are various free apps that can help you manage your finances.

Tip # 3 – Select a Goal Purchase

Don’t buy anything unnecessary for two weeks. This means turning down everything from ice cream to a new pair of shoes. Every time you get the urge to buy something unnecessary write it down; you’ll be amazed at how much money a little willpower can save you. Once the two week period passes go out and spend a small sum of money to reward yourself for your responsible spending.

Follow these tips and you should be well on your way to saving more of your paycheck.