It takes a lot of willpower to decide if you plan to work yourself silly or gain financial freedom. The choice that you make to aspire for financial health is actually not an impossible feat.

In fact, you can actually save money and be able to survive without pressuring yourself to earn more from what you are currently earning. All it takes is some common sense and a dogged determination to see it through.

A study by the Australian Statistics Bureau found that nearly half of every household in major Australian cities live in a state of financial insecurity and are not able to muster finances for emergencies or have set aside money for their future.

Many Australians have also changed their spending habits dramatically over the years. But this may be about to change due to a growing culture of awareness because of advancements in financial technology and the current pandemic situation that have served to instil an awareness of sound financial management for everyone.

It is not difficult to understand why technology has played a crucial role in developing this awareness for financial health nowadays.

Here are three ways how you can take control of your finances and start saving money.

Make a budget and follow it

Making a budget for your finances allows you to keep tabs on your financial resources. List down your resources versus costs and when you plan for activities, make sure that include them in your budget.

First, you make a list of your income and expenses so you can get a good picture of your cash flow. You may be able to make adjustments on expenses if you see it is beyond what you are earning regularly.

Resolve yourself to stick to your budget and exercise self-discipline to stick to your budget at all times.

Spend smart

Smart spending is dispensing your money practically and judiciously.  Always take advantage of discount offers for things that you need. These opportunities can help you save money and increase the amount of your disposable income.

When shopping for groceries, make sure that you have a list of all the things you need.  Without it, you can end up buying stuff you don’t need so always stick to the basics and never be tempted to spend more than what you have planned.

Pay your debts

Live within your means. This can curb your spending, especially if you live a lavish lifestyle.

Take control of your finances and spending wisely by setting aside a portion of your earnings to settle your credit dues.

Reach out to your creditor to grant you a realistic payment scheme and live up to your commitments. Exert every effort to settle your dues first because neglecting it can compound your existing obligations and problems.