Beech Tree News Network

Winter has arrived. New Year’s resolutions have – or haven’t – been made, and most people are back on their regular work or school schedules. Since many of us dipped into our savings for Christmas, it seems like a good time to cut back on spending.

An article I recently read suggested some guidelines for spending wisely (http://www.msn.com/en-us/lifestyle/smart-living/10-frugal-resolutions-fo...). The article recommended that we develop a conservative financial attitude:
•    Stop impulse buying.
•    Take stock of where your money is going, and commit to living within your means.
•    Consult with your family, and surround yourself with people who are trying to be financially responsible.
It also encouraged a financial plan:
•    Pay your credit card bills in full. To spend less, pay with cash.
•    Build an emergency fund, and regularly put money toward a retirement plan.
•    Take your budget seriously.

Similarly, the wikiHow website provided several suggestions for spending wisely (http://www.wikihow.com/Spend-Money-Wisely). This article included information about spending basics, spending on clothing, spending on food and beverages, and saving cash wisely. Two of the suggestions for saving cash included (1) breaking free of expensive habits and (2) pruning your hobbies.

Benjamin Franklin said, “Beware of little expenses; a small leak will sink a great ship” (http://www.goodreads.com/quotes/46393-beware-of-little-expenses-a-small-...). So, to spend wisely, we might consider our household expenses. For instance, I have a three-season sunporch. If I choose to use the porch during the winter, my heating bill increases significantly. Last week, I moved the sunporch plants to other rooms so that I don’t have to heat that room. I can simply close the room off. Many people take steps to reduce their winter heating bills. Making choices to save money permits us to reallocate our resources and spend wisely.

Choosing how to spend is a big decision. Dave Ramsey said, “A budget is telling your money where to go instead of wondering where it went” (http://www.goodreads.com/quotes/349829-a-budget-is-telling-your-money-wh...). Abigail Van Buren said, “Maturity is … the ability to carry money without spending it…” (http://www.searchquotes.com/search/Spending_Wisely/1/). Having passed the holidays and entered a new year, I’ve decided to evaluate my spending. And, spending wisely just makes sense.