5 Simple Steps to Take Control of Your Spending

Taking control of your spending doesn't have to be overwhelming. Here are five proven strategies that successful savers use to manage their money effectively.

1. Track Every Dollar

The first step to controlling your spending is knowing where your money goes. Use apps like Spendal to automatically categorize and track your expenses.

2. Create a Realistic Budget

Build a budget that reflects your actual lifestyle, not an idealized version. Include entertainment and discretionary spending to make it sustainable.

3. Use the 24-Hour Rule

For non-essential purchases over $50, wait 24 hours before buying. This simple pause often prevents impulse purchases.

4. Automate Your Savings

Set up automatic transfers to your savings account. Pay yourself first, and you'll be less likely to overspend.

5. Review and Adjust Monthly

Your budget should evolve with your life. Review your spending patterns monthly and adjust as needed.