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Financial Tip

Assess your spending plan for this month. Are you on track?

 
home › economic survival tips › Spending › Shopping Therapy › Look at Your Spending

LOOK AT YOUR SPENDING

 

Plugging spending leaks — areas where money is wasted or spent needlessly — can help you feel more comfortable in these challenging economic times.

Cutting unnecessary shopping trips is a good start. Next, see if you can decrease your regular expenses.

Can you get a less expensive cell phone plan? Drop the premium channels on your cable TV subscription (or drop it completely)? Maybe it’s time to refinance your mortgage with a lower interest rate and a lower monthly payment.

When you cut back unnecessary spending, it frees up money to pay important bills and gives you peace of mind. Longer term, some of the money you save can be earmarked for an emergency fund, which will help you if you lose a job or face unexpected necessary expenses down the road.

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