How To Silence The Shopaholic Devil On Your Shoulder

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When it comes to saving money, all is fine and dandy until the latest sale email lands in your inbox, or you have to walk through the high street to catch your bus home from work. It seems that part of your brain reawakens that needs to constantly spend money and the mantra of “treat yourself, you deserve it” overtakes the rational part of your brain that is telling you that you only have a certain amount in your bank account left for the month. It can take more than a quick research into consolidate credit cards to gain the mentality you need to save enough money to clear any debt you have, and start to see growth in your savings accounts. Below are a few tips that will help to silence the devil on our shoulder everytime you walk past your favourite store.

Change Your Attitude Towards Money

It can be very easy after budgeting to see the money you have left over and think of it as “disposable”. Yes, the definition of disposable income is “money that can be chosen to be spent or saved by the owner”, but in this case, it is arguably more beneficial to go with the article definition of disposable: to be thrown away after use. If you begin to see your sudden splurges and impulse buys as money thrown away, you will be less likely to keep spending. Having a clear out can help to show you the impact that impulse buys can have on your consumerist attitudes. You will become aware how many purchases were only used a couple of times before they were forgotten about and replaced by a new purchase, and be reminded of things you already have. It can give you a new perspective on your buying habits, and maybe even help you to nip some in the bud.

Re-evaluate Your Budgeting System

It can be extremely easy to put the money away for bills, food, and petrol for the month and then just spend the money anywhere you see fit. However, if you start to budget an appropriate amount to put into savings it will become second nature to you, and before you know it, you’ll have a sizeable amount of money. Giving yourself no excuse to not put money away will prioritise your saving and potential future investments over new shoes or a handbag.

Question Every Purchase

A bargain isn’t always a way of saving money – it is still spending money, just less of it, and you save a lot more not spending any at all. Think about the purchase you are holding in your hand before you take it to the cashier. Is it something you actually need, or something you want? If it is something you want, put it back on the shelf and walk away. If you are still thinking about it a few days later, you may be able to justify purchasing it. Think about the amount it costs, versus the number of hours it took you to earn the money for it. If you would work the number of hours equal to the cost again just for the item, then it is a sensible purchase. If not, then the item is not worth it and will be collecting dust before you know it.

Hopefully, this has helped you to reevaluate your spending habits, and given you a new perspective on successfully saving money.

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