This is a collaborative post.
Everyone has bad spending habits. For some people, the issue might be that they spend way too much on takeaways and eating out each month. For others, the problem might be that you simply can’t resist a sale.
Whatever your problems might be, the quicker you can break your bad habits, the easier it will be to get your spending under control. The good news is that you don’t have to simply remain a victim to your spending issues. Once you realise that there’s a problem, you’re in an excellent position to start making crucial changes to your life. This could mean that you cut down on certain expenses, or simply look for ways to earn more.
Here are some top tips to help you control your spending;
Take Cash Instead of Plastic
Whether you’re heading out on a clothes shopping trip, or you’re going to pick up your food from the supermarket, take only the exact amount of cash that you’ve estimated you’re going to need for the day. Don’t just leave your credit and debit cards in your picket “in case” you need them. Put them on the counter at home and walk away. If you find out that you need some more cash, you’ll have to return home and re-think your purchasing decisions. Often, this means that if you only need more money because you’re buying something you don’t need, you’ll place that item back on the shelf, rather than forcing yourself to return home.
Know Your Spending Triggers and Avoid Them
We all have certain things in our lives that make us more likely to spend money than others. For instance, a lot of people struggle to say no to their friends when they’re invited for drinks or a meal on the town. Unfortunately, these things can be very expensive in the long term, and you might not have enough cash to keep up with the lifestyles of your loved ones. Figure out what causes you to spend money more often than you should and look for ways to avoid those triggers wherever you can. For instance, maybe you could invite your friends to your house for drinks instead of going out?
Visualise Your Goals
What’s the reason that you’re saving money so carefully these days? Do you simply want to have less stress in your life, or are you trying to put together enough cash for a family holiday? Whatever your reasoning, try to visualise your intended outcomes when the going gets tough. You could even print out pictures that represent your goals. For instance, if you want to put a deposit on your dream house, get a picture of a home and place it on your fridge. It sounds strange, but just imagining what you can accomplish if you stick to your guns will help to keep you motivated.
Always Compare Prices
Nine times out of ten, you’ll be able to get the items that you desperately want and need for cheaper elsewhere. All you need to do is be willing to look. Before you buy something, type a quick search into Google to find out whether anyone else has a better deal to offer. If nothing else, you get the peace of mind that comes with knowing you’re getting the right price. This applies to more things than you might think. For instance, if you’re thinking of taking out a loan, it pays to compare your providers before committing to anyone in particular. That way, you can ensure that you’re not paying more interest than necessary. Take the same approach with your monthly expenses, like gas and electricity, or car insurance too.
Get Support from Family and Friends
Changing your spending habits is difficult – but nobody ever said that you have to go it alone. Sometimes, it’s so much easier to make a significant change in your life when you have other people around to support you. Telling your friends and family members what you’re trying to achieve with your money is a great way to ensure that you have the back-up you need when the going gets tough. What’s more, it’s much harder to let yourself off with buying something that you don’t need, when you know that you have other people to hold yourself accountable to. Your loved ones are going to be in the background cheering for your success. That makes it a lot less likely that you’ll let yourself fail in your goals if you can manage it.
Until the next post,
Are and Pops.