In a time where people are becoming more and more selfish and where the world feels more like a self-centered place, I think it’s completely normal to go into debt buying gifts for yourself.
But, what happens when you run out of money?
It will undoubtedly come to the point where you will feel frustrated and mad at yourself for falling again for such indulgences.
But, that golden heart of mine cannot just look at you beating yourself up for your overspending habit. So, here are some tricks that will help you save, save and save.
#1. Understand Your Spending Triggers
Don’t worry, like you, I know many self-confessed shopaholics.
To be honest, I understand that’s what you work hard for. But, when splurging on certain purchases doesn’t make sense, you might want to identify what triggers that overspending habit of yours.
So, let’s take a look:
Time of Day
Do you find yourself shopping more during specific periods of the day?
Is it that afternoon boredom that makes your rationality takes the back seat? Or, the early morning vibe that makes you jump on shopping?
Some particular environments have the power to make you succumb to the temptation of overspending, even at the expense of your own financial well-being.
Maybe you can’t look at that food court without bouncing on food (But, don’t you think about the gut-busting repercussions later on?)
Or, you might not resist that new shopping mall and may find yourself wandering through the aisles looking for opportunities to pour your money down the drain.
From how you talk with your parent to how you act with your spouse, research has shown how your mood can affect some of your behaviors. This strong link between these two aspects is enough to prove how different moods can make you more vulnerable to impulse shopping.
Just had a fight with your boyfriend? Angry? Stressed or anxious? Just hit the mall and you’ll see how tons of shopping bags can do wonders for lifting up your mood.
But, can you allow yourself to walk down that road?
Now, other factors such as your lifestyle or peer pressure can trigger your overspending habit. But, your role here is to remove these temptations from your path.
This courageous action is so easy to do in just a split of a second but will be harder in the beginning.
#2. Stick to the 30-Day Rule
Let me explain.
Follow a 30-day rule where you stay very, very far away from all temptations and avoid making those spur-of-the-moment purchases.
I know it sounds simple but might be more difficult to do.
But, as much as possible, try to restrain yourself and if you do, you’ll find that, after those 30 days, you won’t even want that item.
But, please don’t go on cheating and fooling yourself, saying that dress is not expensive at all or I have enough money to spend on that bike.
#3. Obsess Over Your Financial Goals
When you have spent all your money in your impulse fund, how will you buy your dream house? Or, how will you pay off that huge debt that’s been lingering close to you for a long period of time now?
It is indeed nice to spend a lot of money to live well and more, when you can enjoy them guilt-free.
But, can you treat yourself to such luxuries at the expense of giving up on your financial goals?
What I’d recommend you is not to let your splurges hold you back from what you really want.
It’s important for you to focus on your real financial goals and only then will you be able to sail across an ocean of genuine happiness.
Say your life goal is to buy a Ferrari. When you are faced with an irresistible urge to splurge, ask yourself, “How does this help me get on my Ferrari?”
If this still doesn’t help, put a picture of your goal to your wallet.
And, then every time you’d open your wallet, you’ll see that vacation trip to Paris or that luxurious house on 57th Street, New York.
#4. Leave the Plastic at Home
Once you’ve splurged on unnecessary things, guilt creeps in. And, that’s when that guilt often turns into a vicious cycle of feeling bad about ourselves, which leads to us feeling terrible about our actions and our lack of discipline and control.
Want to prevent this situation?
Leave your credit cards at home, especially when you can feel today your money is going to go down the drain.
I don’t promise you anything. Remember, unless you add a deeper level of belief and work hard to resist the urge to splurge, even these tricks can’t do much for you.