Stop spending money

Trying to cut down on your spending can be very tough, particularly if you have expensive tastes. But follow these tips and you may soon be on a one way trip to Easy Street.

Write every single thing down that you spend in a year. You must really scrutinise whether what you buy is truly necessary. If you're a smoker, then you may be surprised by exactly how much you spend over a twelve month period. Like shopping? Well, same goes.

Of course, priorities should always be rent and mortgage. You must know what's important, and - dread we say it – pleasure items may just have to foregone.

Rash purchases or impulse buys you should avoid at all costs. Before buying something, ask yourself whether you really need it.

Think of what the true cost of the thing you buy is. If you earn £5/hour and, on your break, have a hankering after a can of Coke costing £1, just think that the real cost of that sparkling brown sugary liquid is 12 earth minutes, that's time you could have spent waiting for a bus, or having a shower.

Otherwise, you can try shopping online for groceries so that you avoid the tempting items on display. Always write a list of what to get when you do go to the supermarket, and try to only carry the cash you need on you – leaving the cards at home.

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