spending wisely habits

How To Spend Money Wisely And Build Good Money Habits

Take charge of your finances and learn just how to spend money. With good money habits and planning, you’ll feel more in control over your money, your choices, and your life. Here are some tips on how to spend money, create good money habits, and prepare for emergencies.

Identify The Money Habits You Want To Change

Start simple at first and slowly build up. What are some common problems or situations where you tend to overspend? Maybe you always go over your cell phone data limit, or you end up ordering food because you’re too tired to cook. Or, you end up spending too much at the supermarket and buy items that eventually spoil.

Think of what situations you’ve been through and how to spend money more effectively in these situations.

Use These Tips To Change Your Money Habits

Now that you know exactly what money habits you want to change, you now have to figure out how to go about changing them. Follow these

Create A Savings Plan

Saving isn’t money you have left over after spending. Instead, saving money should already be built into your budget. Financial planners recommend that you start by saving at least one percent of your salary.

As you learn how to control your spending more efficiently, increase that to two percent, then three percent, and so on. Aim to reach the point where you are already saving about 15 percent of your income. With a plan like this, changing your money habits and saving becomes a lot easier.

Pay Yourself First

Think of your savings as a way of paying yourself for your hard work. You are setting aside money for long-term goals like creating an emergency fund or a retirement fund. This, in turn, will help you have peace of mind and ensure that you will be able to enjoy a comfortable life.

Set up a separate savings account and arrange for a portion of your salary to be automatically transferred each month. This reduces the temptation to spend all of your income and makes you think twice about withdrawing your savings for an impulse purchase.

Avoid Late Charges

Do you forget to make payments, and end up incurring late charges? Those late charges are the worst! And of course, if you keep paying late, your credit will soon drop. Instead, arrange for automated payments or set up payment reminders on your email or phone.

Use A Money Management App

Let’s face it, managing your money can be difficult. And if you aren’t careful, you could put yourself in a bad financial situation. Instead of trying to manage your money on your own, use a money management app. This kind of app can help you track expenses, remind you of payment dates, monitor your savings goals, and identify areas where you tend to overspend.

Keep A Money Diary

Money is never just about money; our money spending habits are often based on subconscious attitudes or emotional triggers.

For example, you may overspend to distract yourself when you’re stressed. Or, you buy too many gifts for people — even when it’s more than you can afford — because that’s how you express affection or love.

A money diary can help you identify your emotions or motivations. Once you learn to manage your attitudes, it’s easy to manage your money habits.


old man counting money for wise spending with payday loans


Give Yourself Non-Monetary Rewards

Yes, you do deserve a reward or a treat after a long day of work. But these don’t have to be expensive! Make a list of simple, cheap, or even free things you can do to make yourself happy.

Instead of going to a spa, take a long bubble bath while listening to your favorite music. Instead of eating out and watching a movie, invite your friends for Game Night at home. There are plenty of rewards you can give yourself that don’t have to cost you a small fortune.

Find A “Money Buddy”

Just like it’s easier to stick to fitness goals if you exercise with your friends, it’s more fun to save if you have a money buddy. This is just as it sounds – a person you can go to and discuss your money habits. You can talk about your money goals, encourage each other, and give each other ideas on how to save and budget.

Have An Emergency Plan

Ideally, you should have an emergency fund that can pay for unexpected hospital bills, house or car repairs, and other urgent expenses. Financial experts recommend you have at least three to six months’ worth of cash in your emergency fund.

Unfortunately, you may be caught in a situation where your savings aren’t enough to cover all the costs. That’s where a fast payday loan can help.

What Is A Payday Loan?

A payday loan is like a bridge between your pay period at work. Basically, it is a short-term loan you receive when an emergency pops up before you have your next paycheck to help you out. Generally, you will pay back the loan with your next paycheck; but if you find that you can’t pay it back, come speak to us and we will see what can be done for you.

The amount you qualify for depends on your particular salary. In Fast Payday Loans in Florida, you can qualify for anything up to $1,000. This money is there to help with emergencies like medical bills, home repairs, late utility bills, or late rent payments. And there are plenty of other advantages as well.

Advantages Of Fast Payday Loans

When it comes to fast payday loans in Florida, there are certain advantages to these loans versus other traditional bank loans. Those advantages are:

  • You don’t need a high credit score. Whether you have a bad credit history or no credit history, you can still take a payday loan.
  • It’s easy to apply. You don’t have to line up, gather a lot of documents, or go through several interviews with a loan officer. You can begin the application online on our website at any time.
  • You can raise cash quickly. The nature of most emergencies is that you need to have money as soon as possible. Through a payday loan, you can have the cash in as little as 30 minutes from the time you step into the store.

Find Fast Payday Loans Near Me

Just like our name suggests, Fast Payday Loans provides the easiest, most convenient, and quickest way to raise emergency cash.

Our fast payday loan near me process does away with red tape and paperwork. Just follow this step-by-step guide:

  1. Go to our website and fill out the online form;
  2. Our loan representative will call you to confirm your information and set up an appointment;
  3. Head to a Florida payday loan nearest you. Make sure you bring your government-issued ID, your most recent pay stub, and a blank check from an active checking account in your name;
  4. After verifying your required items, our loan representative will walk you through the final steps of the approval process, including the simple paperwork;
  5. If you get approved, you will receive your cash the very same day.

For more information about a Florida payday loan and other ways it can help you raise emergency cash, visit our website.

If you want to start this new year off correctly, use these tips to learn how to spend money and develop positive money habits.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.