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15 Spending Habits to Break in Order to Begin Saving Money

changing habits for saving money

All of us struggle to break out of spending habits. However, here we are to help you break your spending habits and actually start saving money.

Here are 15 ways you can break out of your spending habits, and you can start all of them today! 

Plan Your Budget For Saving Money

Plan Your Budget For Saving Money

The first thing you need to do when you’re trying to save money and break your spending habits is make a budget. 

A budget is one of the most important financial tools that you have at your expense. Use it to the fullest capacity to make sure you can bring your spending on track. 

Your budget determines how much you absolutely have to spend throughout the month such as your bills and debts, grocery shopping, and fuel or gas for your vehicle. 

Once you have this budget, you’ll know how much money you are saving keeping aside the mandatory spendings. This is the point where you can break out of your spending habits. 

Ideally the goal is to make sure from that savings you do not spend anything more than 20% of it. The best way is to have a separate savings account and not have that debit card on you at all times. Keep that money safe and spend the 20% you have after your mandatory expenses. 

Here Are 10 Budget planning tips for families!

Track Every Expense 

Tracking every expense is an important step for saving money. It does not matter if your question is how to save money or it is how to grow your savings account, the answer is to track expenses. 

Once you track your expenses you will notice that there are certain charges on your statement that could have been avoided, very easily. You immediately need to make sure you don’t make that expense in the coming month. 

It’s these small money habits that will make for big changes in the long run. Tracking expenses is an effective way to learn where you are overspending and where you can cut back. 

Ask For Receipts 

Ask For Receipts for saving money

The most common response to “Do you want a receipt?” is “No”. Break out of this habit. At least for the first couple of weeks you need to collect your receipt. 

Primarily, receipts are a good way to make sure you are staying on top of your budget and tracking your expenses. 

Secondly, it’s a good way to make sure you are not indulging in compulsive spending or that you are not being charged incorrectly. If you ever want a bank to forfeit any charges on your card, you need to have a receipt. 

Start Eating At Home 

One of the biggest expenses is eating out. You might feel that it’s not a lot but then at the end of the month, it is. 

For example, if you’re spending $10 everyday to eat outside, at the end of the month it is $300. However, just by eating outside once or twice a week, you can cut it down to $80 or less. 

Moreover, this step is not just about money habits or saving money but about health habits as well. You need to secure your wallet and appetite at the same time. Make sure you take care of both. 

Make A Shopping List 

A list is the one thing that will help you save money. Why? Here’s why. 

A grocery shop or a departmental store has a million things that you will want to buy. It’s nothing but compulsive spending. It’s this habit you want to curb. 

Hence, if you start carrying a list every time you go grocery shopping, you’ll genuinely end up saving money. As a result, you’ll just bring back things you need. 

This does not mean you cannot add interesting items to your list. However, divide your expenses. If on the first grocery trip you buy candies, buy the other items on the second trip. 

If You Can Borrow It, Don’t Buy It 

There are several ways to break out of bad spending habits. While yes budgeting and having a goal is important, it’s important to know when you shouldn’t buy something. 

Here we don’t mean something like an extra bag of crisps or candies but something like a lawn mower. 

Do you think you need the lawn mower everyday? If no, then borrow it. Once you start borrowing it, you’ll see your neighbours borrowing something you have as well. 

Not only will this help you break the habit of buying something at the first instance but it will help you build relations as well. 

Start Using Cash For A While 

use money to make payments

Money habits can be broken by switching the mode of payment and it’s an effective method as well. 


This is because when you use cash, you become more aware of the transaction you’re making. You are much more reluctant to make unnecessary purchases when paying with cash. 

Studies have shown that you individuals end up spending 15% less when they use cash as the mode of payment. 

Become Organised 

When you’re juggling a number of things at the same time, you forget to stay on top of your finances. 

One of the best ways to resolve this issue and help yourself break out of spending habits is allotting some time throughout the day to organise your finances. 

We recommend putting aside half an hour everyday to go through your bills and knowing how much of your daily budget you have crossed. This will help you plan the next day better. 

Save The Extra Income 

Whenever you get any extra income, you must save that. 

This money can come from overtime or freelance work. You must put this money aside completely. 

If you keep it within reach, you will inevitably end up spending it. So make sure you are not doing that. 

Commit To Not Spending 

Most of us are not willing to break a commitment made to ourselves. It doesn’t have to be a big commitment to change your money habits and saving money habits

Start small by committing not making unnecessary purchases during grocery shopping. You can use this point to build up from. 

Protect Your Assets

Breaking out of spending habits does not always mean that you need to stop buying things. Sometimes, it’s about trying to make sure you have your assets protected. 

If you have been a regular at your insurance policies, sometimes you’ll find that the company offers a lower premium per month. Try to avail these opportunities to make sure you make more savings. 

Have A Financial Date Night 

You need to be upfront with your partner about your spending and saving money habits. 

We recommend both of you decide on a particular date and then sit down and discuss your finances. However, this time is to help each other and not pick up fights. 

So, make sure you have a date night but with the aspect of a financial twist. Your partner is the best person who can help you break a spending habit. 

Pay Your Interest On Time 

Credit card interests or loan interests need to be paid on time. If you don’t, there is a penalty involved. 

Furthermore, your credit score is at risk. Make sure you have a proper list of debts and loans and their interests. Pay these on time. 

Read Our Guide On How to Pay off Credit Card Debt – Step – by – Step Plan

Change Your Expensive Taste 

Understand that an expensive taste is actually in your head. You don’t need to buy something utterly expensive to look good or eat good. 

If you do your research, you’ll see that there are a lot of options that are within your budget but have the exact same effect as something expensive. 

Changing the expensive taste is a good way to break out of your spending habits. 

Set A Major Goal

Set a MAJOR GOAL for yourself which involves finance. It can be to go on your dream vacation or buying your first car. 

Having a goal set out will definitely help you break out of the habits and help you with saving money. 

Make sure you take this goal very seriously and don’t budge from it. Not even for a second. 

You can get in touch with us and follow us on Instagram for any questions about being a FULL TIME FAMILY! We are always online and look forward to hearing from you.

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