It’s safe to say that all of us want to earn as much as possible in order to afford all the things that we deem necessary for ourselves, from a car to a home and everything in between, but earning a lot seems to be directly correlated with spending a lot. If you find yourself in a situation where you constantly blow all the way through your finances and you acknowledge that it is a problem, you’ve come to the right place. Here are some ways for you to stop doing it. 

1. Open a Locked Bank Account 

If you’re earning a ton of money, this should be your number one priority. It’s crucial that you save a certain amount each month and the chance of that happening is pretty slim if you put it all in an open account. Open a locked one or at least one that has clear-cut limitations in place. 

2. Embrace Frugal Living 

Frugal living is as simple as not stocking your fridge full only to have an armful of past-date products to throw away, buying used things instead of brand new or always paying with cash instead of credit cards. Frugal living shouldn’t be mistaken for “poor” or “cheap” living – it is just a way of becoming happy with less and thus putting a stop to money controlling your life. 

3. Get Rid of Useless Subscriptions 

Are you paying for the gym although you rarely go? Are you paying for Netflix but rarely have the time to use it? Subscriptions to things you seldom use can and will bleed you dry. Make a list with all the subscriptions you have and see which ones you can expunge from your life. 

4. Travel in Your Car 

Traveling is great, but you don’t really need to pay for plane tickets in order for you to go on vacation or at least not all the time. You can just as well get in your car and go on a trip on your terms and on your own dime. Visit friends and parts of the country you’ve never been to and you’ll have saved a lot without even breaking a sweat. Of course, you’ll still be paying for gas, but we can all agree that it would still be cheaper than spending hundreds on plane tickets and accommodation. 

5. Invest Your Money

Nowadays there are countless venues of investment one can pursue, from real estate and promising business startups to foreign exchange through Forex brokers like the ones you can find on FX-List. Investing your money intelligently will not only save you money, but actually multiplying it over time. 

Final Words

You’re neither the first nor the last to have an overspending problem. It is so deeply ingrained in our society, in fact, that there are psychology studies on it. Now, there’s nothing wrong with wanting nice things for yourself and your family, but if you spend all your earnings on things that nobody ever needs, you should follow all the steps we’ve talked about in this article.