Everyone has experienced one of those “broke” moments. Only when the wallet gets empty, you realize how poor your choices were. The regret lasts till you get your next pay check and then it becomes a vicious cycle of bad spending habits. Here is how you can control your urge to splurge:
- Get rid of all Shopping Apps: The number of shopping apps on your phone determines how likely you are to shop unnecessarily. Sometimes you buy online because you were just browsing through the app and liked something. It could be completely unnecessary but you still end up buying it because you have the money. More often than not, shoppers give in to tempting offers and deals that apps come up with. A simple notification is all that it takes to make that emotional purchase. Uninstall shopping apps and you will end up saving more money than you imagined.
- Take how much is required: If you are about to hit the mall on a shopping spree, figure out what you want to buy way before you leave. This way, you can estimate your purchase figures and keep an eye on spending in excess. Once you have your estimated amount, carry only that much in your purse. Fish out all your debit and credit cards. This way, you will be forced to finish your shopping with the amount in hand, thus leaving no room for excessive spending.
- Food Fetishes: Eating restaurant food affects you in more than one way. First, splurging around the city becomes an addiction and your money disappears in a matter of minutes. Next, it leads to overeating and obesity. Next time you feel hungry, ditch that super expensive meal at a cafe for home cooked food. Not only will you be saving money, you will also be eating healthy.
- List the Causes: Next time you see yourself spending money on something unnecessary, take a moment and think about why you are doing it. When you stop yourself from spontaneously spending money, you are more in control of how much you spend. Besides, intervention by your conscience is all that it takes to stop throwing your money at meaningless things.
- Set Goals: Set realistic goals about what you want to buy. For example, if you want the latest gadget, then set your eyes on it and start saving. You will be aware of the fact that you need to save money to achieve your goals. Towards the end, not only will you successfully achieve your goal, but you will also refrain from spending money.
Bad spending habits differ from one person to another. What your friend spends each month can be a huge amount for you. The key is to figure out what makes you spend money and controlling yourself from doing so.