Wednesday, September 18, 2013
3 Ways to Cut Spending: For All You Shopaholics
There are many of us, who are impulse shoppers. I am deefinitely one of them and I'm currently working on my "money management" skills. There are 3 simple things you can do to decrease your spending habits.
1) Limit the amount of Cards, & Money you take from home>
For those of you that bring, stack on top of stacks of Dough$$, & bring all of your plastic, will find yourselves constantly just getting by, & living way above your means wishing you had a "$5 bill" for every purchase you make.
-By limiting the amount of cards you take, you decrease the amount of interest, & funds debited from your bank account.
-Bring only a certain amount of money, when going out like $60-$80 bucks in spending cash, & put the rest away. This will leave you with money to spare,
so that when the 1st of the month comes "you won't be rubbing 2 pennies 2gether, wishing you had it".
2)Set up a Savings Account- Most of you "Twerkin' for a Berkin", or "Workin' Hard for that Money", now that the the sensation of spending is like a state of "Hyper Euphoria". So as good as it feels, you should also have some cushion, or instillation so that you are financially stable, & have something to fall back on.
Most Banking institutions offer savings account, @ low costs, or free. So take advantage you can start out small $15-$50 a month, & gradually work your way up, so that when you reach your goal amount of $300(for example), then its time for a reward.
3) Look For Sales, & bargains -The Way the retail industry is set up is to get you to but the merchandise, weather its packaged like it was made by the gods, or endorsed by your fav spokesperson or celebrity. The truth of the matter is is that after a period of 3weeks to a month, most major retailers mark down the price, or put the merchandise on sale.
This is all based on the performance of the item, so for those of you saying "You gotta have it", when you really don't its not like the Grim Reaper will come knocking over a pair of jordans, or Louboubtin's.....
In the end the only person you can blame for your outrageous spending habits
it yourself. So bare the responsibility, & give yourself from breathing room casue most of the things can be bought with time, & who knows maybe then you will have changed your mind, & it won't even become a coveted possession.
Leave comments below about a time your found yourself spending way to much, or ways this short article was helpful.