Budget; the most dreaded b-word known to all mankind, at least in my opinion. I think I've briefly touched on my struggles with effectively saving money long term here on MGC before, but this week I finally figured out why I feel like I can't seem to save anything consistently. I eat out too much.
I actually sat down and calculated all the money I've spent on fast food/eating out in the past 2 weeks and was in shock...no wonder I don't think I can put anything away! I'm literally eating myself out of house and home. But no more my friends. It's time I kicked this bad habit once and for all.
My plan is to at least begin teaching myself effective techniques for saving money and that starts with setting boundaries for myself. Baby steps.
Create a savings account. I've had one off and on for about 4 years, but every now and then something big comes up and I end up clearing the account. At most banks you have to put down a minimum amount of money to open one, my personal goal is keeping that money in there no matter what!
Eating out once a week. Not one day a week. One meal a week. This will take a lot of a adjusting for me, but since I know for a fact that this is where my money goes, I want to make it my #1 priority.
Keep a record. I've already started doing this, but keeping a record of how much you're spending on what keeps you accountable. I can try and deny/rationalize my financial situation all I want, but those receipts make it real. And you can't change that. For me at least, seeing things in black and white makes all the difference.
Do ya'll practice good saving techniques? How do you keep yourself in check when it comes to money?