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Getting caught up in a shopping spree is easier than anything – you just have to take that wallet out of your pocket and proceed with your decision. This obviously applies especially when you have enough money to spend. Disorganized spending is a very common tendency which is present in today’s consumer’s behavior.
But these rushed decisions are more than often bringing disappointment and regret. Once you get home, you begin to realize that your spending was not purposed at all. The worst part is when you realize that the thing that you’ve just bought isn’t serving you any good.
You see…managing your funds is a fundamental skill that everyone should possess. I bet you’re reading this article because you’ve already become aware of your spending problem. You’ve accepted it as a problem, and that’s very important for your progress. No worries, we’re here to help.
During today’s article, you’ll learn a few strategies that should successfully teach you how to avoid the useless spending habits which frequently cause you disappointments. Pay attention and also apply what you learn here – otherwise, you’re just wasting your time!
1. Develop a Bigger Spending Goal
Instead of spending small bucks on all sorts of things, start saving money for objects that cost more, but are much more valuable and qualitative. This strategy might sound like a paradox, but it really makes sense if you think about it.
The things that cost more money are usually offering you more value. For example, you might want to change your laptop, as you want to play new games or do different (and more advanced) things.
Now, if you always think about that bigger purpose, you’ll find it hard to spend money on irrelevant objects that bring you no good. So if you’re always spending money on things that you don’t need, having a bigger goal in mind will most likely eliminate that urge of yours for good.
2. Use the 45 Minutes Rule
The 45 minutes rule is an invention of a famous finance blogger named Bridget Casey. The rule is very simple: if you are not using an object for at least 45 minutes each day, you just don’t need it. This sounds pretty insane, but if you break it down and look at the time spent each week (5.25 hours), it starts to make sense.
Take a close look in your closet for example. How many things do you actually NEED? Now look in your own room. Is it filled with objects that you consistently use, or they’re just sitting comfortably while filling the space?
Every time you consider buying something, think about the 45 minutes’ rule. Once you understand that you don’t need something, it’s crazy to think that you’re still going to buy it.
3. Become Aware of Your Spending Triggers
Each and every one of us has spending triggers. These triggers are 99% of the time emotional and psychological. For some people, these triggers were allowed to persist up to the point where they became disempowering habits. If you care to remove these triggers, you will no longer be tempted to buy irrelevant objects.
So next time you’re buying something, carefully examine what made you do it. Was it your friend that had to be impressed? Was it the mall that you’ve visited? Or it was just a usual urge to spend money?
Figure out the triggers and start removing them piece by piece. How do you do it? Well, you just become very aware of them. Once you understand that you don’t need a thing, you will not buy it.
4. Avoid the Most Tempting Places and Activities
Some of you might just be used to go shopping each day. You choose the places where you spend your time according to your shopping habits and it suddenly becomes a cycle. Now…the easiest way to avoid spending money on things that you don’t need is to just…avoid any provocative situations.
If you’re buying things on your way to work, change the route. If you’re buying clothes that you throw away in two weeks each weekend you’re going to the mall, stop going to the mall. I think you understood my point.
Now, if you’re also an online shopper, do not access the shopping portals which are so used to your visits. You can even block the links using special browser add-ons. Lastly, stop clicking ads that sell stuff. You can block them too by installing Ad-Blocker.
Either way, you have to understand that useless spending is caused only by you. You need to assume the responsibility and not blame others for your bad choices. When you take the responsibility, it’ll be easier for you to avoid all of these temptations.
With time, you’ll be able to visit all the places that tempted you before, and never worry about any triggers or bad decisions.
Once you learn how to spend your money with care and purpose, your thoughts and feelings will definitely become more positive. Moreover, your budget will look different, and you’ll be able to save and plan for bigger things that not everyone can have.
About the Author:
Julie Petersen is a freelance writer and educational blogger at AskPetersen, a top paper writing services blog. She was featured on Lifehack, Simplemost, Collective Evolution and other websites.