Let’s learn how to cut back on spending!

As most of you all know, personal finance is my forte’. I love all things personal finance. Therefore I will be posting daily money tips to help you get out of debt, control your spending and become financially healthy. So everyday, visit the site for a new money and if you have any suggestions, please email me at lovingmefree@gmail.com!

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Money Tip: If you’re trying to save money and cut back on your spending, give yourself a spending limit that is between $10 – $25. If you’re one of those people who enjoys eating out for breakfast, lunch and dinner, then this may be somewhat of a challenge to you. However, the point of this exercise is to help you stick to your budget and cut back on your spending. Once you have set a spending limit for yourself, the next step is to find a partner. Each week, report to your partner the amount of money you spent, what you bought and how you plan to improve the following week. Also, please note, the $10 – $25 will be outside of your normal expenses such as gas, food and monthly bills.

Let me know how your first week went. Include in the comments!