If you are drowning in debt and unnecessary possessions, now may be the time to stop spending. But like any other addiction, quitting is not easy. Sometimes we have to devise ways to make the process of quitting a little less noticeable.
Here are a few of my favorite ways to stop the spending trend:
- Let it simmer—Before you purchase an item, go home and think about it for awhile. This will allow you time to cool offer, think straight, and determine if the item is really something that you want/need. It will also allow you time to do a little comparison shopping and to determine if the item is a wise investment.
- Avoid sales papers and catalogs—I normally avoid advertising publications, such as sales papers and catalogs, as often they encourage me to purchase items that I would have never thought of previously. You may also want to avoid receiving retailer emails and following favorite brands on social media sites if the temptation is too overwhelming.
- Avoid shopping as an activity—When I was young, if you were bored you would head to the mall. Even if you only had a little bit to spend, you would spend it at the mall. Window shopping became an activity in and of itself. However, as an adult, if you know that you are likely to spend on unnecessary items, it may be better to skip the mall, flea market, antique show, or any other setting that provides temptation. Shopping should be done in necessity only.
- Cash, please—If you are prone to overspending, even when you go grocery shopping, trim the fat by using cash. You will give yourself no choice but to spend the amount that you have available on the items that you require. Another option is to use a pre-paid debit card or regular debit card.
- Recall your hourly rate—Most of us work and make a set amount per hour. When you are considering making a purchase or spending money in some other way, consider how many hours you would have to work to make up for that amount. Don’t forget to consider all of the work that goes into that time. It may cause you to reconsider your spending spree.
By incorporating these tips into your routine, you will slowly see the spending stop, possibly without you even feeling deprived. I was able to do it, so I am confident that you can as well.
How do you avoid unnecessary spending? What strategies or tips do you apply? Do they work? Please comment below and share your sneaky stop spending tips with us.