Sometimes, when the end of the month arrives, you’re wondering where your paycheck has gone. Here are some tips you can follow to make sure that your paycheck lasts.

List all your expenses. To do this more accurately, carry around a small notebook and write down your expenses as soon as they occur. At the end of each month, add up everything on your notebook and categorize them according to food, house expenses, entertainment, gifts and donations, and transportation. By having a detailed record of your expenses, you’ll easily see the areas where you can cut down.

Cut down on your expenses. There are several areas of your life where you can cut down on your expenses, but let’s start with the basics. If you notice yourself buying a $5 latte almost every day and getting take-out every night, try to cut down on this expensive habit and start eating at home. If you have any magazine subscriptions, make sure to keep only those that will be useful to you in the long run. Fashion magazines don’t have much of a lasting value, but magazines that include do-it-yourself projects can be stored and used when needed. Also, when buying groceries, go for cheaper, generic alternatives to the branded products you buy.

Pay your bills first. Most financial guides out there suggest that you pay yourself first and put 10%-15% of your income into savings. While this is a good idea, you should prioritize paying for your bills first. After all, you can’t tell the electric company “I can’t pay you now because I paid myself first.” So pay your bills, and cut off unnecessary expenses to keep enough for savings.

Buy second hand. You don’t need to buy new CDs, DVDs, books, and games. As long as they’re in good condition, you’re getting a good bargain when you buy them second hand. Sporting equipment can also be bought second hand – just make sure that you don’t buy products that deteriorate when they come in contact with sweat. Golf clubs, tennis rackets, exercise equipment, and baseball bats can be bought at great prices.

Know all your banking details. This one is a little harder to research, but it’s something that you should do. ATM withdrawal fees, service charges, and withholding taxes usually appear on your bank statement. Figure out how much these fees are for all local banks and move your savings or checking account to a bank with cheaper fees. Smaller, independent banks usually have cheaper fees, although they can be inconvenient because they have fewer branches.

Tags: Expenses, Money, Tops, Saving Money, Banking