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Does your spending result in financial stress?

(Source: https://www.pexels.com/photo/a-man-and-woman-doing-budgeting-7735783/)

The economy looks like a scrambled omelet, and there’s a real risk of the world falling into a recession. So, if you were waiting for a sign to start spending your money wisely, then this is it.

If we’re being honest, cutting back on expenses might be the hardest thing we have to do. It means sacrificing some expenses in our day to day and giving up something we love or enjoy.

However, it means we get more money to spend on other, more important stuff.

Well, It’s Always Easier Said

It’s super easy to say you’re on a budget or you want to cut expenses, but it might get tricky when it comes to actually putting in the work.

If you’re having trouble keeping up with your finances, there are several apps you could use to your advantage.

Apps to Help You Cut Expenses

• YNAB – You Need a Budget

Spending money without any sort of planning will have you thinking you’ve been robbed. So if you want to keep track of every dollar, you should know exactly where you’re spending it. And that is what a budget is – an indicator of where your money goes.

If you’re new to this, budgeting might be overwhelming and frustrating. But there’s no need to complicate it; all you have to do is know your goals and be able to tell the difference between a want and a need.

YNAB is a revolutionary budget app that gives you total control of your money. The app operates on four simple rules to ensure guilt-free spending and effortless savings. They are;

• Give every dollar a job
• Embrace your true expenses
• Roll with the punches/be flexible
• Age your money.

This budgeting technique focuses on money at hand, thus making it easier to pay off debt, organize your finances, reduce financial stress, and save.

• Hily Dating App

If you have an active social life and you’re often going on dates, then it’s time to get yourself on a dating app. This might sound absurd, but you wouldn’t believe how much money creating a dating profile spends.

Ever gone on a date and it was a no-show? Worse still, ever had a really bad experience on a first date? Have you been on a date when all you can do is sip coffee or eat to avoid a boring conversation?

You’re spending a lot of money getting ready, Uber trips, food and drinks, and activities, but are you guaranteed to have a good time?

Hily dating app allows you to find ideal partners that match your likes, priorities, and values. You also get to start talking on the app, so there’s no need for meet-ups if you feel no chemistry.

In addition, you don’t have to go to the movies if that’s not your thing. Imagine how much money you save by only going out with people you actually like.

If you’re interested, check this app on Google Play Store or the App Store and get started.

• AnyList Shopping List App

A shopping list highlights what you need and what you can do without

(Source: https://www.pexels.com/photo/black-calculator-beside-coins-and-notebook-5466785/)

Have you ever gone into the supermarket for eggs but come out with a bag of chips, paper towels, and perfume you really don’t need? You are not alone- it happens to the best of us.

It might be hard to hear, but you’re shopping your way into poverty and debt. In addition, you are denying yourself other opportunities just by overstretching your finances.

A shopping list is a great way to stay on track and avoid filling your trolley with junk you really don’t need. In addition, a shopping list gives you better clarity on your needs and wants.

Keep a running list throughout the week to prevent impulse buying, and add items as they run low. Also, plan your meals so you get all the ingredients at once.

List your items according to how they are located in the aisles. This way, you can avoid the aisles where the impulse devil resides – the candy and junk aisles.

Compare prices and brands to ensure you get the best bargain, and opt for stores with reward programs. Also, remember your coupons!

AnyList allows you to share your shopping lists with other family members. But this isn’t the best feature of AnyList.

Order your groceries directly from the app through popular retailers such as Walmart, Instacart, and Kroger.

• Wally

Keep track of where your money is going at all times so you can easily spot impulse spending.

Wally is a colorful app that offers expense-tracking functionality. What’s more, the app has a free version. This expense app allows you to take photos of your receipts, and it categorizes them accordingly.

Conclusion

It is important to keep track of every dollar, especially if you’re running on a tight budget. It allows you to afford necessities while avoiding unnecessary debt.

Even without financial constraints, cutting costs allows you to spend more on stuff that you love.

Have you ever had to cut costs before? What was your experience, and is it something you’d want to do again? Share your experiences with us. We would love to hear from you!