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Change Your Spending Habits
talessi@ariesfoundation.org
7 Steps to Change Your Spending Ways
Here are 7 ways that you can impact the way your spend, or steps that you can take to help manage or change some habits you may developed when it comes to parting with your money:
1. CASH ONLY
Credit, and especially ATM cards, make it very easy for us to overspend, but you can't use them if you don't have them...on you. We know, this is like asking a teenage to go without their cell phone, but just try it for 1 or 2 days a week. See if having that "ready plastic" was what was casuing you to have a little less self-control with your spending.
2.SET A BIGGER GOAL
Sometimes we can lose sight of what we are blowing our money on; lattes, snacks, etc...so the suggestion is to make sure that you have something you are trying to save for, like a vacation, or upgrading your mode of transport, or maybe just trying to save up to pay off a debt. When you start to reach for the item 9or find yourself walking into Dunks) then remember the goal you are trying to achieve.
3. SHOP WITH A LIST
We went to the store with a certain item in mind to buy, so how come I came with 5 other things as well? This is helpful when going to the grocery store or places like Target, where we can get distracted and wind up with more than we needed or intending to get in the first place.
4. DON'T GRAB A CART
Speaking of both types of stores above, try to only use a cart when we have a lot of stuff on our list. The bigger the cart we use the move stuff is going to fit inot it! So try to go with a handbasket or go without. You are less likely to add more items if you don't have someplace to put them.
5. SURVEY YOUR SELECTION
Before you head to the register just pull off to the side and take a look at what's in your cart. Cross-check with your list. Did we really need another box of Coco-nutties this week? It doesn't hurt to give everything a once-over before proceeding to the registers.
6. COOLING OFF PERIOD
Whatever the new gadget or gizmo that you may have been salivating over, instead of rusing out or going online to purchase it, take a breather, institute a 1 day waiting period before you buy. This will give you a chance to reconsider, go back and revisit Step 2, decide if you need it, and don't just really, really Want It!
7. WANTS vs. NEEDS
Which brings me to delayed gratification and being able to hold-off, or wait, or not purchase that new doohickey today, so you can achieve whatever goal you are trying to obtain. We are doing whole webinar on this subject on Thursday, Feb 4th, because it is that important.
GOT QUESTIONS? ASK US. WE CAN HELP WITH THAT!
Are you and your money not on the same page? Need some boundaries or groundrules to decide who is actually in charge? Visit our website www.ariesfoundation.org.
Our mission is trying to help everyone have a better relationship with their money.
Completing these financial tasks before year-end can help set you up for financial success in the New Year.
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