How To Control Your Expenses ?

We all know how to make money — how to get a job and work hard — but we don’t learn how to manage it which is the important part.

In this article, we will look at how to control expenses and achieve our goals.

I am indeed rich, since my income is superior to my expenses, and my expense is equal to my wishes.

Edward Gibbon

You may hear over and over again that you need to control your expenses. Are you wondering, how are we supposed to do that? You may even be asking why do we need to do that? Unfortunately, many people are often faced with a choice: either control expenses or face financial disaster. 

Hopefully, you are not in that position, but there are always ways you can control expenses to maximize the use of your money.

Limit Debt 

Limit the amount of debt that you take on. A rule of thumb is monthly payments on your debts (not including your mortgage) should not exceed 20% of your take home pay.


Plan to go the grocery store weekly and plan the meals for the upcoming week before you go. This will help you from impulse buying stuff you don’t need if you only buy items you plan for. Also, lay off the soda, beer, chips, and other junk food. These items are extremely expensive, do them in moderation if you need to buy them at all. 

Invest Wisely 

Make prudent investments. Avoid investments that promise a high return, like penny stocks, junk bonds, and speculative deals. The reason that those investments offer a high return is that they are extremely risky! 

Eating Out

Eat out less often. Some people spend well over a hundred dollars in a  month just on eating out for lunch. Brown bagging it is much cheaper. For dinners, plan out your meals for the week as I suggested above and you will be much less likely to go out to a restaurant.

Pay Off Debts In Full

Charge only those items that you can pay off in full when you receive your credit card bill. Don’t get into the habit of maxing out your credit cards and just paying the minimum payment. This irresponsible habit means you’re continually spending more than you have and you are collecting more debt due to high credit card interest rates. 


Do you really need the most deluxe cable package? I don’t think so. With services like Hulu available now, you can find most of your favorite shows online for free now! 

Cell phones

We realize cell phones are important, but you do not have to spend so much on your cell phones. Minimizing the way you spend on cell phones can help you control your expenses. 


Spending on gifts can also get out of control and increase your expenses. Try minimizing this can help you control your expenses.


These are ways to control your expenses. There are many more and we encourage you to always be on the lookout for ways to save. The important thing is to separate your self-worth from your possessions. How much stuff you own is not an indication of how good or successful person you are. 


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