Money can provide relief, but it can also be a source of stress. If you find yourself struggling when it comes to practicing financial self-control, here are some helpful tips.
Start by cutting yourself off at the source. Yes, we’re talking about fewer trips to the mall and anywhere else you may find yourself at the mercy of impulsive tendencies.
Another effective strategy is to leave home without your debit and credit cards. That way, even if you’ve got your eyes on something, you simply won’t be able to buy it.
Once retailers get their hands on your email, they keep those discounts, special offers, and end-of-season sales coming. We know how tough these can be to resist, so do what we did. Simply unsubscribe from those dreaded email lists.
Don’t Save Your Autofill Info
Saving your information after a purchase sounds convenient, but this is actually a marketing strategy. The option to automatically fill out those boxes favors retailers more than it benefits you. When you have to type in your information each time you shop, you may second-guess your purchases. This is the biggest fear retailers have.
We’re pretty sure you can do without that floral scarf; your summer will be perfect without it.
Keep Tabs on How Much You Spend
This tip should really be filed under Financial Self-Control 101. Even someone who’s not actively trying to save will tell you just how important it is to track your expenditures. Maintain a budget sheet; looking at those numbers alone should help curb your spending.
When you get your paycheck each month, immediately set an amount aside as savings. Refer to it as the ‘touch-me-not’ pile. You can even automate this process by setting up a separate bank account for the purpose.
Just like any other habit, financial self-control will become second nature once you start applying these tips. Trust us, it will pay off in the long run…literally and otherwise.