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financial services Ottawa

Regardless of your financial situation, there are many benefits to mindful spending. In essence, this practice simply requires you to bring awareness to your relationship with money and to spend it with intention. Here are some ways you can easily implement this approach to money management in your daily life.

Keep track of your expenses The first step to sound money management is to create a budget. This makes it easier to see where your money is going, monitor your spending and make adjustments as needed. Consider using a budgeting app, as this type of tool can help you stay organized, reduce the risk of mistakes and provide visual breakdowns of your expenses. Establish your priorities Once you’ve determined how much money you have to spend, you need to decide what you want to spend it on. By regularly reflecting on what’s most important to you, such as saving up for a house, a vacation or a monthly outing, you may find it easier to say no to overspending and impulse buys. Always make a shopping list Whether you’re doing a weekly grocery run or looking to update your wardrobe, make a list of what you need before you leave the house. Once you get to the store, be sure to stick to your list. Doing so will help you avoid browsing and adding unnecessary items to your shopping cart. Use cash whenever possible Credit and debit cards make it all too easy to spend money without a second thought, especially if you often use contactless payments. Being able to see how much money is in your wallet and how much of it you’re handing over to a cashier can be an effective way to keep your spending in check. Pause before you purchase Before you make a major purchase, stop and ask yourself whether you can really afford it and how long it’ll take to earn that money back. If you need help holding yourself accountable, share your goal of mindful spending with a trusted friend or relative, and reach out when you need to be dissuaded from making an unnecessary purchase.


If you need help managing your money or meeting your financial goals, the team at D. & A. MacLeod Company Ltd. can help. Our experienced staff provide credit counselling to help clients reduce their debt, rebuild their credit and improve their spending habits. We also offer professional guidance for personal bankruptcy, consumer proposals and debt consolidation in Ottawa, Kingston and elsewhere in eastern Ontario. Contact us today to learn more about our services.


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