Cut spending: know what you have and what you don’t need

Do you want to cut your spending?  Organize your belongings and stop to think before you buy.  How does that help? Read below

Organize your belongings

Have you ever made a purchase only to find out you have the exact same thing at home?  If you are organized – knowing what you have and where to find it –  you will save time and money.  Buying duplicates of things you already own is a waste of money.  I am talking about the items in your clothing closet, your food pantry, your linen closet, and your garage.

Stop to think: Do you really need it?

A great price doesn’t necessarily mean a great buy. Check your supplies at home before you buy. The same is true for coupons – don’t buy just because you have a coupon: make sure you need it, want it, and will use it in the immediate future.

Don’t panic about missing a great price. Chances are it will go on sale again in the future.

Be careful in warehouse clubs.  If you only need 1 of something, then just buy the one, and not the 12-pack.  If you aren’t going to use all 12 right away, you will have to find a spot to store the extras. Will you know where you stored them in a year, or will you be at the store buying another 12?

Stop to think: Are you buying for “someday” or for right now?

Be careful about buying for future fantasies.  If you have a dream of doing craft projects with your children, don’t buy the items now when you don’t have kids.  This someday-buying will make you spend more and cause you to have items that need to stored.  Buy things only when you need them. Even buying too far ahead for the holidays can be an issue.

Simply put, know what you have in your home and where to find it when you need it.  Don’t buy more than you need right now, regardless of the great price.  Living with less will mean more cash in your wallet.