Stay motivated to manage your spending

Posted On Tuesday, Apr 24, 2012


monthly cash flows

You would agree that one of the most important steps to grow money is to ensure that your monthly cash flows always stay positive. This allows you to regularly put aside money that can be invested. A Spending Plan aims to increase your surplus, by controlling your spends (expenses). It is actually just a mindset shift, though a much needed mindset shift!

Here are a few points that would help you stay motivated in controlling your expenses.

Remember How Far You've Come

Recall the times when you didn't earn as much money as you do now. Compare your spending habits then to your expenses now. Most of us will realize that we did manage to live just fine on the income you made earlier, even though it was lesser than what you have now. This realization in itself is an empowering thought! Try thinking...

Start Thinking 'Value'

Picking out Value in your purchases is like a treasure hunt. Enjoy it and apply it to the bigger purchases in your life. For example, you might just save quite a bit by purchasing a low mileage, used, good-quality car instead of a new one that depreciates five percent when you drive it off the lot. Think Value! Cultivate a mindset of always buying value, especially with regards to higher priced assets. The more you begin to find value, the sooner you would get to your financial goals.

Reducing Spending is a challenge Enjoy Reducing Spends

Reducing Spending is a challenge. Enjoy the thrill of pushing yourself to keep at it. Set yourself spend-cut targets. And when you look back at your bank balance at the end of the month, the extra that you have ended up not spending will surely add a smile to your face. Living within your spending plan is a mindset that can really be enjoyed.

Be Thankful

Be thankful for everything that you have achieved and for everything that you do have. Don't think about people in whose place you would like to be, instead think about those people who would actually gladly swap places with you. Instead of feeling frustrated that you can't be a member of the top country club right now, appreciate that you can swim at a well maintained gymkhana pool. Always focus on what you do have, not on what you are lacking.

There is always more to accumulate, and focusing on what you don't have will always leave you feeling needy. Learn to enjoy spending less, and soon you will be able to appreciate just how much more there is to life, other than the fact that by being cost-conscious, you would have more to spend on things that really matter!


The views expressed here constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. This information is meant for general reading purpose only and is not meant to serve as a professional guide for the readers. This document has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. The Sponsor, The Investment Manager, The Trustee or any of their respective directors, employees, affiliates or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information. Whilst no action has been solicited based upon the information provided herein, due care has been taken to ensure that the facts are accurate and opinions given fair and reasonable. This information is not intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Recipients of this information should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed investment decision before making any investments. None of The Sponsor, The Investment Manager, The Trustee, their respective directors, employees, affiliates or representatives shall be liable for any direct,indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way from the information contained in this material. Please visit – to read scheme specific risk factors.

Above article is authored by Quantum.

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