Unnecessary Spending Habits

WHILE MANY FEEL THAT THEY SIMPLY

AREN’T MAKING ENOUGH MONEY,

OTHERS RECOGNIZE THAT THEY SIMPLY

HAVE BAD SPENDING HABITS THAT ARE

EATING UP ALL OF THEIR MONEY.

HERE ARE A BUNCH OF TIPS TO GET YOUR

BANK ACCOUNT POINTED IN THE RIGHT

DIRECTION.

BEFORE YOU START — IDENTIFY

PROBLEMS.

IT IS NECESSARY TO PRIORITIZE YOUR

SPENDING BEFORE YOU JUMP INTO WAYS

TO SAVE.

SOME PEOPLE ENJOY GOING TO THE

MOVIES, TAKING SOMEONE OUT TO

DINNER OR CATCHING A BASEBALL

GAME.

I’M NOT GOING TO TELL YOU WHAT YOU

SHOULD OR SHOULD NOT SPEND YOUR

MONEY ON - THAT’S FOR YOU TO DECIDE.

BUT YOU MUST IDENTIFY WHERE YOUR

MONEY IS GOING BEFORE YOU CAN SEEK

SOLUTIONS TO HELP YOU SAVE.

ONE GREAT WAY TO DO THIS IS BY

USING AN APP SUCH AS MINT.

THIS FINANCE APP WILL HELP YOU

CREATE BUDGETS (AND ALERT YOU WHEN

YOU EXCEED YOUR BUDGET), CREATE

GOALS FOR YOURSELF AND VISUALIZE

WHERE ALL OF YOUR MONEY IS GOING.

IT DOES THIS BY GROUPING YOUR

SPENDING INTO DIFFERENT CATEGORIES

— SUCH AS RESTAURANTS,

TRANSPORTATION COSTS, AND

GROCERIES.

TAKE A LOOK AT HOW YOU’RE SPENDING

YOUR MONEY BEFORE GOING TO THE

NEXT STEP.

DECIDE HOW MUCH CASH YOU NEED.

YOU’VE IDENTIFIED YOUR PROBLEM

AREAS - NOW, LET’S FIND A WAY TO FIX

THEM.

THE FIRST STEP IS TAKING ONLY THE

CASH THAT YOU ARE WILLING TO SPEND.

SAY YOU’RE GOING TO A BASEBALL GAME

- TAKE OUT $50 AND LEAVE YOUR CREDIT

AND DEBIT CARDS AT HOME.

THIS WILL ELIMINATE THE URGE TO KEEP

SPENDING MONEY BECAUSE YOU CANNOT

GET ACCESS TO THAT MONEY ANYWAYS!

JUST BE CAUTIOUS, HOWEVER; YOU DON’T

HAVE AN EMERGENCY FUND ON YOU.

FIGURE OUT WHAT YOUR SPENDING

TRIGGERS ARE.

SPENDING TRIGGERS ARE

SUBCONSCIOUSLY AFFECTING WHERE

YOUR MONEY IS GOING.

WHEN YOU START SPLURGING ON

THINGS, WRITE DOWN HOW YOU WERE

FEELING AT THE TIME.

WERE YOU MAD? BORED? TIRED? FIND

OUT WHAT IT IS THAT MAKES YOU SPEND

MORE MONEY THAN YOU SHOULD.

LIST YOUR GOALS.

CREATE GOALS FOR YOURSELF EACH

WEEK AND TRY TO MEET THEM.

I CREATE A SPREADSHEET THAT BREAKS

DOWN WHERE MY MONEY SHOULD GO.

FOR EXAMPLE, I’LL CREATE A GOAL TO

EAT DINNER AT HOME 5 TIMES THIS

WEEK.

I VARY MY SPREADSHEET EACH WEEK

SO THAT I DO NOT GET BORED WITH

IT.

IF YOU MEET ALL OF YOUR GOALS,

FIND A WAY TO REWARD YOURSELF.

LET IT BE.

IF YOU’RE THINKING OF BUYING

SOMETHING, MAKE SURE THAT IT’S

NOT AN IMPULSIVE DECISION.

I’VE ALWAYS FOUND THAT INTERNET

SHOPPING IS TROUBLESOME FOR

PEOPLE BECAUSE YOU CAN QUICKLY

ORDER AN ITEM AND YOU DON’T EVEN

PHYSICALLY HAVE THE ITEM IN FRONT

OF YOU.

IF YOU’RE SOMEONE THAT BUYS

IMPULSIVELY, LET THE ITEM SIT IN

YOUR SHOPPING CART FOR A FEW

DAYS.

NEXT TIME YOU VISIT THE WEBSITE,

DECIDE IF THAT’S AN ITEM THAT

YOU’D STILL LIKE TO PURCHASE.

ALERT OTHERS OF YOUR DECISIONS.

ONE THING THAT I’VE BEEN TRYING TO

CUT BACK ON IS SPENDING MONEY

ON DRINKS.

I’VE LET THE OTHER PEOPLE I WORK

WITH KNOW ABOUT THIS DECISION.

NOW, WHENEVER I COME BACK TO

THE OFFICE WITH A DRINK IN MY

HAND, MY FRIENDS ALWAYS GIVE ME

A LOOK AS IF THEY’RE SAYING YOU

SHOULDN’T HAVE DONE THAT…

I’VE FOUND THAT LETTING MY BEST

FRIENDS KNOW ABOUT MY SPENDING

GOALS HAS HELPED ME DRASTICALLY

REDUCE MY PROBLEM AREAS.

IT’S A CONSTANT REMINDER THAT I

NEED TO BE MORE CAREFUL WHEN

PULLING OUT MY CREDIT CARD.