Maybe you know that you are ready to take charge of your finances but are unsure where to begin. The best place to start is by coming up with a detailed list of goals. What would you ultimately like to achieve? How will your finances change ten years from now? What about five years? Perhaps you envision that the house is paid off, or maybe you are no longer making payments on your student loans. Go smaller, but think bigger. A year from now, do you see your financial situation differently? Can you commit to what you will have to achieve to attain financial freedom?

The truth is, debt is a mindset and can change with the proper focus and motivation. Here are two secrets for saving time and money to help you cut costs and ultimately achieve your long-term financial goal(s).

Create a Budget

First, create a budget AND STICK TO IT. If you are serious about saving cash, you need a realistic plan that will ultimately lead you to your long-term goal(s). If you are having a hard time understanding the significance of a solid budget, then think of taking a road trip. Not having a budget is like travelling without a map. Would you expect to find your way from Windhoek to Cairo without a map or any directions? Maybe you are a person who likes being lost and having to find your way. In that case, I would ask, are you also okay with getting lost down some back road only to end up in a place that resembles a scene from the movie Deliverance?

Most people hate losing their way. So why would you want to do the same with your finances? Now that you know your goal(s) is/are, you need to find the most direct and efficient way to get there. A budget will most certainly help. So come up with a plan and stick to it because success is only a few miles ahead.

Don't Buy What You Don't Need

Second, stop spending money on things you don't need. Pop a TV dinner in the microwave, grab the remote and get comfy on the couch. You will see a significant difference in your bank account even if you cut back to going out 1 or 2 nights per week. On average, you probably spend a minimum of $15 to $20 (not including gas or other secondary expenses) every time you go out. So do the math. If you spend five nights per week at restaurants, at the movies, going to bars, or whatever you like to do, you are spending an average of 100 dollars per week on social activities alone! That's money you could put toward your long-term goal or money you could put in your gas tank.

It's time to get focused and take charge of your spending.

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Thank you for reading and hope you have a good rest of the day!

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