If you are looking for a way to cut your spending, consider a few simple changes that can help you get there. By changing the way you carry your money or cards and the way you view your finances, you can quickly cut back on the amount of money you spend.
Think Before You Buy
When making a purchase, consider all of the costs: the actual cost, the cost of time and cost of searching. Making any purchase isn’t all about the money. Take into account the time you’re spending to make that purchase and what better things you could be doing with that time. A good way to cut back is to make it physically and mentally difficult to buy easily.
Many financial experts suggest carrying cash for many reasons. Not only is it a way to protect your credit or debit information from being stolen, the psychological impact of handing actual money over can make you think more about what you’re doing. Plus, you always have to be sure you have enough money on you for what you are buying, especially for the things you actually have to buy.
If you feel the need to carry your cards with you in case of an emergency, make it difficult to get to them in case you are tempted to use them recklessly. For example, fold a piece of paper around your cards with a rubber band around them in your wallet. On the paper, write down questions you will be forced to look at when taking them out. Ask if the purchase is necessary, if it will help you achieve your goals and what else you can do with your money.
Clear Your Information from Shopping Sites
Avoid the one-click purchasing. Clear your information from shopping sites, turn off the auto-fill feature and delete account information from sites you frequently visit. You will be forced to get up and get your wallet, insert all of your information and check your emails. Having to go through so many steps should be enough to turn you away from making an unnecessary purchase.
Reach Out To a Friend
For some added help, enlist a friend to be your accountability buddy to give you advice on your finances. When you want to make a purchase, talk to them and see what they think of the purchase in relation to your goals.
Consider your finances, make smart financial decisions, and save your money!