Control Thy Expenditures

Master Your Spending Before It Masters You.

In The Richest Man in Babylon, one of the richest men, Arkad, offers this wisdom:

“What each of us calls our ‘necessary expenses’ will always grow to equal our income unless we protest to the contrary.”

In today’s language: If you don’t manage your spending, your lifestyle will always rise to swallow every coin you earn.

The Trap of “Needs” That Aren’t Really Needs

One of the biggest challenges in personal finance is mistaking wants for needs. You get a raise—and suddenly, you’re eating out more, upgrading your phone, or shopping online more often. Your expenses rise along with your income, and you still feel broke.

This is called lifestyle inflation, and it quietly kills your ability to build wealth.

How to Control Your Expenditures (Without Feeling Miserable)

Controlling your spending doesn’t mean living like a monk. It means spending with intention, where every kwacha, dollar, or rupee has a purpose. Here’s how to start:

1. Know Where Your Money Goes

You can’t control what you don’t measure.

Track every expense for 30 days—yes, even the small ones. You’ll be surprised how much slips away on things you barely remember buying.

Use a notebook, spreadsheet, or an app like:

• Mint
• YNAB (You Need A Budget)
• PocketGuard

2. Differentiate Needs vs. Wants

Before you buy anything, ask:

• Do I need this to live or work?
• Will this purchase bring lasting value or just a quick dopamine hit?

Train your mind to pause before buying. That one-second pause builds financial discipline over time.

3. Create a Simple Spending Plan

Use a rule like the 50/30/20 Rule:

• 50% for needs (rent, groceries, transport)
• 30% for wants (eating out, entertainment, subscriptions)
• 20% for saving and investing

Or modify it to your lifestyle. The key is deciding your limits in advance, not in the heat of the moment.

4. Avoid Emotional Spending

We often spend when we’re bored, stressed, or trying to impress others.

Instead, find non-financial rewards—walks, hobbies, conversations, journaling. Learn to find joy outside of consumption.

5. Plug the Money Leaks

Look at recurring expenses:

• Subscriptions you don’t use
• Bank fees
• Daily snacks or drinks you could prepare at home

Cutting these doesn’t hurt your quality of life—but it boosts your savings instantly.

6. Leave Room for Joy (Intentionally)

Budget in a “fun fund.” You’re human, and life should be enjoyed.

But when spending is planned joy instead of impulse chaos, you feel empowered, not guilty.

Final Thought: Spend Less Than You Earn, Always

You don’t need a big income to build wealth. But you do need control.

Wealth is not built by how much you earn—but by how much you keep.

So take charge. Control thy expenditures.

And watch how freedom begins with every coin you choose to keep.