Garrett Jay of Money Lessons for Life says, "We live in world that has taught us to spend, spend, spend and shop 'till you drop. Changing your behavior takes determination and patience, but it's not hard if you stay focused. Here's how to grab the bull by the horns. Sit down with a pen a paper or better yet, create a file on your computer so that you can easily edit and update your information."
Once this has been done, it's important to focus. "Determine which of those expenses will really make a difference and for now, only focus on the costs that will save you a decent amount of money. If you buy a cup of coffee twice a week for $1.50, and you plan to cut it down to once a week, you will only save $78 for the whole year. Instead, focus on cutting expenses that will save you at least $20 a month which equals $240 a year. Now apply this concept to your other expenses. Making a few small changes to your spending can really add up!"
Lastly, Jay says to kick it up a notch and then reward yourself. Every month or two once you've calculated how much you saved on your target expenses, select one or two additional expenses as savings targets. He adds, "Be sure to reward you and your family as you achieve your goals. You can have an ice-cream sundae celebration at home for less than $15."
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