Knowing when, how and how much to spend

[Paul Abel]

It is good that you have the knowledge about the right moment when you should spend and not just that but that you also know how you should spend and on what you should spend and then how much to spend at every point in time for every commodity or service.

This knowledge will help you and go a long way in making sure all your expenses are calculated and that you don't overspend or spend on the wrong and unnecessary items and materials.

You can spend of course only when you have money. But our lecture doesn't stop here, you must know what and how to spend. Meaning you should be careful about the things you give preference to when making your purchases. You cannot be buying foodstuff when you already have enough at home. That will be an unnecessary spending, despite the fact that it is good to buy enough and keep, it is important that you avoid overdoing it at the expense of some important purchases you should make.

This introduces us to the how much of spending. You must be able to allocate some particular amount for every bit of item you are purchasing depending on its level of need and importance.

 

[Knowlopedia]

The best way to know how much to spend on anything is to develop a budget. A budget can apply to your personal expenses or business expenses. To help you out, we've compiled a guide on how to not only make a budget, but also maintain it.

Step 1: The best way to start off your budget is by figuring out what you actually want and need in life. It is more than just figure in expenses and the amount of money you have.
The way to do this is simple, make a list of everything you want or need for your life. Don't forget to include things that are important to you but have little to no monetary value.

Step 2: Once you have all of your items, break them up into categories. For example, if you need clothes, break them up into various clothing categories such as: formal wear-shirts and pants, casual wear-shorts and dresses and dressy wear-skirts and suits.

 

[Augusta]

Spending less money needs one to have a good self control I have come to realise that it's not all about making plenty money it is about not spending plenty money.

if you're able to conserve you will have money, lots of people that go through brokeness isn't that they're not making money but it's just that they are spending too much. This led to income being less than expenses or better put expenses exceeding income so with this theory we should know that to have money means we should spend less and increase our income this way we gain total financial freedom.