Ask 'What Else Can I Spend This Money On?' Before Big Purchases

Making big financial decisions always involves a lot of variables. While translating a purchase price into hours worked is a fine metric, try asking what else you could buy with that money to get some perspective.

Spend Money On Things You Love, Not Just Like, To Save More

The more money you have, the more ways you’ll find to spend it all. To get a handle on your impulsive spending, divide your potential purchases into two categories: likes and loves, then toss out the former.

Find Common Ground To Initiate A Difficult Money Conversation

Whether it’s getting on the same page as a spouse or supporting a friend’s money goals, sometimes a financial discussion is necessary. To start the conversation on a positive note, find some common ground.

You Decide What 'Luxury' Means To You

Frugality can get you far, but you shouldn’t feel guilty for indulging in a luxury that actually improves your life. However, you have to define what “luxury” means to you. Nobody else can do that.

Create Your Budget With Long-Term Life Goals In Mind

When budgeting money, most of us assume the point is simply to pay our bills. However, if you set out to make your budget with goals for what you want out of life in mind, you can use your money more effectively.

Consider A Month-Long 'Money Diet' To See How Savings Add UpĀ 

Money challenges might not work for everyone, but they can teach us something about our financial habits. Consider a month-long “money diet” to see just how much your savings add up.

Set A Fixed Fuel Budget And Save The Excess When Prices Go Down

Petrol is a difficult expense to budget for, since its price fluctuates often. To make your budget more stable (and save some cash along the way), make petrol a set expense. When the actual cost is lower than that, save the rest.

Calculate How Much Of Your Savings A Big Purchase Is Before Buying

The first step to making a purchase is usually to ask whether you have enough money to cover it. However, a better and more financially conscious question might be how much of your life savings you’re giving away.

Think About Your Major Impulses, And Avoid Them To Save Money

Impulse purchases add up fast and prevent you from saving money. Take note of what you buy impulsively, whether it’s clothing or home decor, so you can start adjusting, budgeting or removing yourself from tempting situations.

Use The 'ERR' Strategy To Practice Frugality

Frugality is about getting the most value out of your money, but a lot of us aren’t good at it. If you want to learn to be more frugal, start with the ERR strategy.