5 ways to control your spending

Do you feel like your spending is out of control? Do you feel like there is always more money than month? When you get your paycheck are you happy for about 10 minutes until you realize that most of the money is already accounted for and you still have to buy food? Does just reading these questions stress you out?

Don't worry. There's help. You can definitely get yourself out of the situation. You can take control of your spending by making a couple of small changes. By making the changes consistently over time you will feel much more in control of your money. And, you may even realize that you have more month than money. Wouldn't that be a nice surprise?!?

To start to feel like you are in control of your money rather than it feeling like it just enters your bank account only to leave mere moments later there are a couple of steps you can take.

Step 1: The first step is to acknowledge that this is how you are feeling and that you want to do something about it. Acknowledging that you are not paying attention to how you are spending will help you right away. As soon as you realize this, you will start to see how you are spending more clearly. You may not do as much spontaneous shopping. You may actually think before you put down your credit card to purchase the next shiny thing that you just have to have -- or at least thought you had to have.

The second part of step one is to commit to doing something about it. You need to not only be aware that you are spending mindlessly but also commit to being more cognizant when you spend. It is a small shift but it can make a ton of difference.

Step 2: Identify what is triggering you to spend money. Did you have a stressful day at work and feel like you deserve a treat? Did your coworker get a new outfit and you feel like you deserve one too? Is it Wednesday? Are you mad, happy, sad, etc? What emotions are making you feel like shopping or spending money is a way to make you feel better?

Once you acknowledge what is triggering you to spend, try to figure out other ways to deal with that feeling. A walk around the block might be a better way to deal with someone that made you mad rather than pulling out your credit card and starting to online shop.

Step 3: Write down your expenses. All of them. Even the ones you don't want to admit. Every time you spend money write it in a journal or in your phone. Keep track of them for at least a month. Add them up every time you get paid to see how much you are spending versus what you are earning. This exercise can be painful to admit how much you spend but it works to make you more aware. You will also start thinking more before spending because you don't want to have to write it down.

It doesn't matter if you etransfer, spend cash or use your credit card. Write it all down. If it automatically comes out of your bank account it still counts. Write it down. Every. Single. Transaction.

Step 4: Now that you know where you are spending your money and have tracked it for at least a month, create a budget. A budget isn't a bad word. A budget is just a plan for your money. You know how much you are bringing in (for the most part) so you know how much you have to spend. Plan to spend that amount and only that amount. Part of your spending needs to include any minimum payments on debt.

We'll get into paying down debt and saving in a different post.

For now, just focus on planning your spending versus what you are adding to your account.

Step 5: Use your budget for at least a couple of months to see how realistic you are with your spending and what you earn. As you get better at planning, you'll feel more in control of your money and you'll feel a lot better.