Have you ever wondered why does all your income which you spend so much effort earning disappears miraculously quick from your bank account? What the eye can’t see the heart doesn’t grieve over, right? In the modern era of cashless payments it is crucial to keep track of your spending to prevent this magical decrease on your bank account. Here are eleven tips on how to stop spending unnecessarily.

Refinance your home and life insurance

Informing yourself about options available is always a good idea, especially when it comes to finances. Many times, when making a decision about your home or life insurance you might not know all the choices available on the market. Moreover, our world changes unpredictably and so do your options. Checking how can you refinance your home or insurance can save you money monthly in form of better rates or smaller fees.


Unneeded insurance

Let’s discuss one more step of refinancing your life. Have you ever checked what does your home insurance actually cover? If you have no idea which objects your agreement includes the best thing to do is to check. But do you know what is an even better thing to do? Do it know! Agents working for insurance companies are most likely always on the company’s side so do not be surprised if you find out that your insurance includes flood insurance even if you are living in hilly Alps or sandy Sahara.

Pricey exercise classes

Lots of people cannot imagine their life without going to a gym weekly or even daily. Exercising is enormously important for maintaining your body and mind in a good condition but if your budget suffers a lot even without you having a gym membership than you might consider exercising differently. There are millions of ways how to stay fit without attending expensive classes at the gym with a private personal trainer. Buy a bike and cycle to work. It will not only keep you fit but also saves a shitload of money you would spend on fuel, not discussing a good impact it would have on our planet. Watch YouTube videos. There are tons of resources available online for free! If it is exercising with your own body weight, doing yoga or a really high intense fat burning workouts you can find inspiration and build your own exercising routine at home. The only challenging thing is to not to run to the kitchen straight after.

Expensive gifts

It undoubtedly feels nice to please your loved ones with luxurious gifts. But it is scientifically proven that when gifting to others people tend to not to look at limitations of their resources, not speaking of trying to show ourselves off. Rather try to spend some energy thinking ‘What original, cute thing can I get her, which shows my interest and knowledge about her?’ Well aimed gift showing you remember the persons interest in books or other hobbies can make someone happier than the most expensive piece of jewellery in the world. Do not forget, hand made gifts count as well and show you think about the person- because that is the whole purpose of giving and receiving gifts, isn’t it?



Not mentioning the health benefits, giving up a cigarette a day might benefit your wallet enormously as well! I know what you might think…. Buying a package of cigarettes will not make one bankrupt. You could be buying a chocolate bar a day instead and it would be the same. Actually, it would not! At today’s prices, if you smoke one pack of cigarettes each day for ten years, you will spend over $130,000 which is easily enough to buy a new car or two or put a deposit on a house. Realising how difficult it might be for someone to stop smoking completely, saving and not smoking a cigarette or two daily would save you over 3000$ in just five years if you’re a daily smoker.


Rethink your cell phone plan

If you are one of those people who are dying to get the latest iPhone every and each year and you are trying to save some money, maybe it is time to realise that the original purpose of a mobile phone is to serve us, not to have the latest trends and the best camera on the electronics market. Rethink your cell phone plan as well. Are you using all your data each month? Isn’t there a cheaper option which would satisfy your needs? Isn’t it better to first save some money and then buy a new phone rather than making arrangements with your mobile network provider and overpaying the price of your phone sometimes by more than 100%?

Eating out

Not having to worry about washing the dishes, dragging heavy bags with shopping all over the town or dealing with leftovers is, we are not going to lie, an amazing and freeing feeling. Considering your budget? Not so much. If trying to save some money by minimising your expenses, thinking ahead and cooking at home is a must. It does take a long time and energy, but at the end of the day doesn’t it feel much better to enjoy a meal you cooked by yourself rather than having food prepared by a stranger? And it is a wonderful way how you can distract your mind after a long day at work or school!

Full-priced new items

It is more than understandable that everyone wants to please themselves every once in a while. It feels truly nice to buy a new pair of shoes or a nice sweater. However, the price difference of brand new things and those which are already used is enormous. Buying second hand clothes or used items has a huge impact on our planet as well as your wallet.


Nights out

Club entries, fancy drinks and post-club snacking used to be or still is a part of many people’s student lives. If your passion for clubbing is still burning, try to think about how much money do you spend on this not exactly cheap hobby. It certainly does feel freeing and exciting to go out and have a couple of drinks, or maybe more than a couple. But doing this often not only costs you a lot but has an impact on your health as well. An average cost of one night out in a club depends on the area you live in but can cost you more than a $100 a night.

Not having a fixed budget

Ignorance is the source of many unwanted events happening in todays world. Ignoring numbers in this case can lead to self-destruction in form of unreasonable spending. Not knowing how much you can afford to spend on specific aspects of your life is the worst mistake one can make when it comes to finances. I would strongly recommend sitting down this evening and trying to come up with a budget reasonable for your income.

ATM fees

Unexpected expenses can sometimes cause real trouble for one’s budget. It is well known that banks and financial institutions are not very kind with costs of withdrawals abroad or from ATMs of other organisations. If you would like to avoid such unexpected expenses, the simplest solution is to plan ahead and withdraw money wisely. Having a little bit of extra cash is always a good idea in case things do not go utterly according to your expectations.

From all of the mentioned aspects of spending it is mostly important to know your priorities. Since everyone has different goals, income and spending habits, it is very important to create your own financial plan not looking at other people and trying to ignore possible social pressure your surrounding may put on you.

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