Spending money is a big part (and often a fun part!) of life. Everyone knows that.When you spend smarter, your money goes further.
Shopping may be therapeutic, but overspending on things you don’t actually need attracts a lot of guilt. Here are some tips that will lessen, if not put an end, to your spending habits. Overspending in your budget, or impulse buying that doubles as a knife sharpener from an infomercial. Nobody wants that.
Here are the different ways you can try to change your spending habits.
Always shop with a list. Keep a tab on your spendings and see when you generally shop. Is it when you need to shop for a particular item or is it emotionally-driven?.
Do not shop when on an emotional high: You may want to keep away from shopping if the reason is emotional. Replace it with another activity, like catching up with a friend or going for a movie.
Use a budget – weekly or monthly – and keep that amount aside. Don’t give in to the temptation of overspending. Make a list of things you really need, and keep your eyes only on that.
Be true to yourself. Ask yourself these questions: ‘Do you really need it?’, ‘Will you get something similar at a lesser price at another place?’ ‘How often will you actually use it?’ Once you’ve honestly answered these questions, you might already be on your way to controlling your urge to spend.
Speak about your habit to a close friend you can rely on. Make sure that whenever you are shopping, they are accompanying you.
Use cash as your payment tool: Keep away from credit cards and only travel with cash at hand. That’s an easy way to avoid overspending.
Look for savings before you Spend: If you regularly shop at a certain store, then you probably know the times they have their best deals. Check out your supermarket’s weekly sales so you can stock up on the for-sale items that you need.