Tips To Curb Your Spending

By Lisa Xing
[Personal Finances]
Wait Before You Buy

A good trick to saving money (and especially to curb impulse buys that you will regret more likely than not) is to wait two days before you decide to buy something, especially if it’s a large or extravagant purchase.  Having that separation in distance and time can give you some mental clarity when it comes to making that spending decision.  It’ll give you time to properly digest whether or not you actually want the item or need it.  It’s wiser and much easier than instantly buying and regretting it, because many people can’t be bothered taking something back to the store once they’ve committed.

Write Down Everything You Buy

It helps to write down every single, little thing you purchase from a coffee to those designer shoes.  The great thing is you will probably be surprised how much you’re spending from day to day.  If you write everything down, it gives you a good visual and mental picture of your spending habits.  Sometimes, it’s easy to write off or conveniently “forget” what you’ve spent money on if you don’t keep track, thus allowing for even more frivolous spending.

Make Your Morning Coffee And Lunch

Making your morning coffee can save you at least a dollar a day.  This amounts to $20 a month, not including weekends, or more than $200 a year.  This is a bare, bare minimum and it’s usually a lot more than that.  So, if you think about it, making your own coffee is pretty worth it, considering what other things you can put that money towards.  Don’t underestimate the value of saving your money on little things, because it’s precisely those little things that add up in the end.

Self-Restraint

You probably don’t want to hear it, but it’s true:  self-restraint is the key to saving your money.  Whether it’s turning down one extra cocktail at the bar or resisting the urge to splurge on that new pair of designer shoes in lieu of your upcoming vacation, it’s definitely easier said than done.  That doesn’t mean it’s impossible though!  More often than not, your restraint doesn’t need to be permanent.  Saving enough towards a goal and reaching that goal will make you feel better and maybe if you have leftover money, you can splurge on that pair of shoes.
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