Even though the state of the economy might out of your control, how you choose to spend your money is all up to you. The following are 10 clever ways to manage your finances.

Track your spending patterns. When you know what you are frequently spending your money on, you will be in a better position to make necessary changes to eliminate unnecessary expenditures. The BALANCE’s Fritter Finder form can help you keep track of your spending. Try using it for one to two weeks to find out exactly where your money is going.

Learn how to separate needs from wants. Perhaps you have been eyeing that 50-inch flat-screen television. However, if you are running on a tight monthly budget, you need to ask yourself whether you really need it.

Refrain from using credit to settle your bills. While using credit may offer a quick and convenient solution at the moment, it only sends you deeper into debt and increases your future monthly payments. Sometimes it will be essential to get cash fast, get approved today for a personal loan.

Make a habit of saving regularly. You can arrange to have a portion of your paycheck deposited directly into your savings account. Alternatively, you can put in place an automatic transfer from your checking to your savings every month.

Review your insurance policies. It is recommended to review your insurance policies from time to time. This helps to avoid a situation where you might be having too much coverage but not actually benefiting or too little coverage leaving you exposed. To find the best deals on insurance coverage contact Virginia CU Insurance services.

Avoid spending large amounts on seasonal expenses, for instance, holidays and gifts. Even though spending that money might feel worthwhile at that moment, later on, you might come to wish you had it and regret spending that much.

Switch or downgrade your services. Try finding more affordable cable packages or providers. If you still have active landline service, you can consider cutting it off if you have a cell phone.

Reduce your energy consumption. Ensure that all your lights and appliances are switched off when not in use. Consider using more energy-efficient light bulbs. In addition, if possible use a fan rather than the air conditioner, and instead of ramping up the heater, wear a sweater.

Sign up for online bill payment. This will not only help you to save on stamps, but it will also allow you to make timely payments. Bill Pay by VACU is free for all members.

Minimize ordering take-outs. Even when a take-out meal seems cheap, when you do it on a frequent basis, the small costs can rack up.