Simple tricks to help the steemian community spend less money

Hi it's me Humptyy :)

And i just want to thank the steemian community for accepting me😉 into this wonderful platform. Although am just starting i just decided to give you a firsthand experience of what i hope to contribute to the steemian community. 👇👇👇

#1 Don't Use Credit Cards to Extend Purchasing Power

The obvious rule of thumb is don't buy stuff with credit if you don't have the money to pay it off right away. Most people abuse credit cards though. If your credit card balance is $2000 with a 19% interest rate, it will take 12 years and $4000 to pay off if you make the minimum monthly payments.

#2 Get a Birds Eye View of your Finances

What I mean by birds-eye view is to track and record where every single dollar goes. By having an overview of your income and purchases you can start fixing things and making tweaks which we'll discuss next.

#3 Eliminate and Shrink Purchases

The main areas people spend poorly are cars, dining out, and little purchases. Evaluate where your recurring and unwise spending is going. It can be things like subscriptions, daily coffee, takeout, gas, and anything else no matter how big or small. Once you find these patterns work on shrinking and eliminating as many as possible. It may be taking an hour to get a lower phone bill, deciding to drive less, or cancelling your cable.

#4 Cut Out Material Purchases

Depending how severe your situation or your goals, consider eliminating all material purchases like clothing, watches, electronics, toys, and so on.

#5 Grow Your Financial Muscles

Being financially disciplined is a skill. If you've never thought of it like that it is like a muscle. You have to keep working and practicing it to make it stronger. You shouldn't start with 500lbs on your first day at the gym, start slow, stay consistent and build yourself up with practice.

#6 Pay With Cash More Often

Cash and credit cards have different psychological effects when we spend. Credit cards stimulate overspending because it's less painful to swipe a plastic card then it is to hand over a $100 bill. Research proves people hold onto money longer if they have it in cash form. If you have bad habits then ditch the plastic, take out cash for 2 weeks, and see how long you can make it last.

WRAPPING UP
This and many more to come are the ways i hope to contribute to the steemian community and i sure do hope it was helpful.

Thanks for the love.