If you have trouble controlling your spending, here are some tips to curb your spending and take control of your finances:
1. Carry a list of “things to buy.” This needs to be written down (not a mental list). If you see something you think you might want, don’t buy it right then, just add it to the list. It will be much easier and quicker when you go to store to make the purchase.
2. Waiting period. Many states have laws regarding a door-to-door salespeople and the ability of the consumer to rescind a transaction within a certain time period. This is actually to help people who are impulse buyers. Give yourself a similar type of waiting period, but before making the purchase, such as a “cooling off period” for about a week before making a decision to buy. If you still feel the same way about it, you can then research your options for getting the best deal.
3. Shop with a list. This list is not a guideline; it should be treated as if it it were set in stone. If it’s not on the list, don’t buy it. Of course you can add items to a list for next return trip to the store. This also saves time while shopping since you have planned out exactly what you will be purchasing.
4. Know your account balance. Whether you pay with cash or with your checking account, you need to know in advance how much money you have available as well as how much you are planning on spending. If you go to the store with the intent to spend less than $200 for groceries that week, you will then need to put some things back if necessary.
Related posts:
