If you live paycheck to paycheck, rollover advance payday loans repeatedly and have plenty of credit card debt as well as personal loans, you probably know that you are spending quite a lot. Even if you don’t have lots of personal loans, having too much debt to repay easily can be a sign of trouble.

Spending less allows you to reply on loans less and lets you put more money towards student loans, mortgages, personal loans, and other forms of debt so that you can get out of debt faster. Plus, savings can mean more money in your savings account or emergency fund.

Saving doesn’t have to hurt and it does not have to be about deprivation. In fact, saving can be all about having more of what you really want. Keep track of every tiny expense for a week or a month – how many of your purchases really bring you pleasure? How many change your life for the better? The truth is, many of us spend cash on things we waste, throw away, and don’t really enjoy. Save on these items – rather than scaling back on true pleasures – and you’ll save plenty in 2023.

Here’s how to do it: each time you are about to make a purchase, ask yourself whether you really want to buy what you are about to buy? Do you love it? Will you use it? Will in change your life one to five years down the line? Will it bring you pleasure? If you’re getting “no” answers, think twice. Then, determine how much of your life you are giving away for the thing you are about to buy. If you make $20 an hour and you are considering a $100 sweater, you are considering a purchase that amounts to five years of your life. Is the sweater worth that much? Considering purchases in this way can make a big difference and can free you to say “no” and save your money for those items that really are worth it to you.