4 Tips For Changing Your Spending Habits

So in my last post I talked about what your spending habits say about you. If you haven’t read that one yet you can check it out here. But if you did get a chance to read it and are now wanting to try and change those spending habits that don’t reflect who you are, I thought today’s post might be helpful!

So I’m going to share some simple tips that will help you to start changing your spending habits and move towards more minimal spending. Ready?

Let’s do it!

4 Tips For Changing Your Spending Habits

1. Stop talking yourself into it.

Yes, I know you do it. We all do. We see the item, the thing we want so bad, and we start talking ourselves into it. We start listing out the reasons that we need to walk over there, pick up that thing, and give someone our money so we can take it home. Stop doing that.

In reality, if your first reaction is to talk yourself into buying it, that is the first sign that you don’t need it. Think about it, when you need something and you see it at the store you don’t start to talk yourself into buying it. You just grab it and buy it. There is no discussion in your head about it because you need it. It’s as simple as that. But if you see something in a store and your first reaction is to think about why you need to buy it, chances are you don’t need it at all. So use that as your sign to stop talking yourself into it and move on!

2. Quit putting yourself in that position.

Window shopping is a real life joke that someone is playing on us. There is no such thing. The very definition of shopping is “purchasing of goods”. There are no goods that you get out of looking through a window.

So, don’t metaphorically window shop! If you have a tendency to buy what you see then quit seeing things!  If you haven’t mastered the temptation of buying yet, don’t put yourself in a position where you will be tempted! Say "No" to going to stores with friends if you know you won’t be able to control your spending. If you take yourself out of the environment of spending money it gets significantly easier to not spend money!

3. Put a limit and write a list.

Sometimes we do actually need to go out and buy something. I understand that. But if you have a tendency to “shop till you drop” then write a list of what you need. Be specific. Then put a limit on what you are going to spend for those items, and only bring that much.

If you have a limited amount of money and a list of what you really need, then there is no real way for you to buy anything else. If you were to buy something else you wouldn’t have the money for what you actually need to buy. So stick to your list and limit to keep yourself from overspending.

4. Interrogate yourself.

Now, if you haven’t done any of these things, as a last resort, interrogate yourself. Ask yourself some of these questions to help you decide if you really should buy it.

“Will I want it in a year?”

“Will it change my life for the better in a major way?”

“Does it align with my goals and priorities?”

“Can I afford it with no ifs/ands/buts?”

“Does someone I know own something similar that they may be getting rid of soon?” (Laugh now, but that is how I’ve gotten 75% of my furniture!)

Ask all of these questions and more until you’re exhausted. If then, you still think it is a wise purchase, well what can I do about it, it’s your life after all… ;)

5. BONUS TIP: Stop.

If you can’t change the spending habit for the better or at least slow it down, you may need to just stop it for awhile. Yes. You may need to stop spending money all together for awhile. Cold turkey. Then when you are ready, and feel like you can be around stores without handing out your card’s pin to every cashier, try again.

Sometimes change takes dramatic steps.

Those weren’t too intimidating right? Those are just a few of the things I recommend people do in order to change their spending habits. It can be a hard habit to break, especially because everyone around you is most likely not following the same change.

But be strong, like I said above it really is your life and your future. The money decisions you make today affect you tomorrow, choose wisely!

I’m cheering you on as always!