Welcome to the Lincoln Savings Bank Senseless Spending Support Group, where you’ll never be judged. The truth is most of us overspend every day on things we don’t really need, and then complain when it comes time to pay the bills or purchase something we actually need.

Employing some spending strategies can help make this
sight a thing of the past.

No more! It’s time to get rid of our useless spending habits and make smarter decisions with our money! Here’s how to get lean with your spending:

Save at Sales- alright, so you badly need dress shirts for work, and, would you look at that, your favorite dress shirts are 50 percent off! You should grab as many as possible, right? Wrong. Only purchase what you need and make the sale actually worth it so that you’re spending less on what you really need.

Earn Cash Back- use LSB’s debit card so you can earn cash back on your purchases.  LSB’s debit card offers real-time visibility to carefully track your spending via online or mobile banking, so you can carefully monitor all your transactions. 

Be Frugal with Food- did you know Americans waste 40 percent of the food they buy at grocery stores? Before you check out, do an inventory of what’s in the cart and ask, “Do I really need that?” You can also keep track of your total bill on a phone calculator as you go.

Get Budgety- basic advice, but it works. Track your normal spending for a month.  If you are a pen to paper kind of person, get receipts for everything then tally everything up at the end of the month.  If you like to use technology, try LSB’sBudget Plus tool in online banking.  It’s an easy and FREE way of tracking, categorizing and monitoring your spending. Are there places you can cut back? Of course there are, so try to do better the next month.  Budget Plus will also help predict future spending and help you stay within your budget.

These tips are nothing new or groundbreaking, but rather simple fixes that have been used by many to successfully reduce their spending and have more money without making a cent more. For more in-depth savings plans or if you’re looking to save for your future, a Lincoln Savings Bank staff member will gladly help.

Our next post later this week will look at what financial steps you should be taking in different parts of your life to live the way you want. Be sure to check back on Thursday, and have a great week!