If you want to save money, part of the effort means finding the areas where you are wasting money. To do this, you need to think like a detective, checking out all the clues:

1) Do an inventory. For a week or a month, write down every dollar you spend. Don’t judge yourself, just consider how and why you spend your money. To be even more effective, jot down why you made each purchase and how you felt when you made the purchase. You may find that you buy things to cheer yourself up or just for something to do.

2) Check out your regular bills. When is the last time you got quotes on your insurance? When is the last time you comparison shopped your TV cable and Internet service? How much do you spend on phone calls? Many people just automatically pay their bills, but going over your bills lets you find ways to save. If it’s been a while, get a new quote for insurance – maybe you don’t need the same coverage or maybe you qualify for a better rate now. Check to see whether you can save money by switching Internet or phone service providers, too.

3) Take a look at your house and closets. Walk through your home and peer into your closets. How much of what you own do you actually use? If there are things you no longer love or use, ask yourself why. If you have bought things that you have never likes or used, ask yourself why you made the purchase. All of those purchases are wasted money – you can save a great deal by avoiding similar buys in the future.

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