The Digerati Life blogger Karen Datko does a wonderful guest post on MSN: “Living on reduced income: 5 strategies for spending less”
Of these 5 strategies 2 are key:
Prioritize. I reflect on each purchase I make very carefully, regardless of how much it costs. Spending on a large item can take quite a bite out of your budget, so think about the outlay carefully before you commit to it. And while it appears much easier to spend on smaller purchases, they may actually be more hazardous to your wallet because your impulse buys can easily add up. [...]
Defer. See if you can delay your unnecessary expenses and address them at a later time. To me, being frugal doesn’t mean you need to say no to spending. It just means later. In the age of instant gratification, pulling out the plastic becomes a habit that can lead to financial trouble. There are a lot of bad ways to use credit, which can trap us into lifelong debt. Waiting just a little longer to buy something can spell the difference between solvency and bankruptcy.
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