Gentle Reminders to Keep You From Spending
Spending is easy. You go to the store, you see what you want and you get it. Maybe you're more into shopping online. How easy it is to type in your credit card number and hit submit? Even worse, you have different websites that save your payment details so all you have to do is throw some items into a virtual cart and checkout.
Spending can get out of control. You ever hear people talk about retail therapy? You're sad, so you shop, you're lonely, so you shop, you're bored so you shop, you're happy, so you shop. Soooo many reasons to shop.
Reasons to Stop Spending
I'm tired of spending money. Have you ever looked around and thought to yourself, "I don't need ANYTHING!"? That's how I'm feeling these days. COVID-19 has us spending more time at home and probably more time online. This is where online shopping can start to get the best of you. In the beginning, I think I did quite a bit of shopping, some for my birthday, some since I couldn't travel and some just because. Then the shopping slowed. Even when a coupon taunted me, I had trouble deciding what to use it on. That was a sure sign that I was done shopping.
How to Stop
Sometimes all you need is a gentle reminder to refocus and stay on track. Occasionally, I’ve perused a site or two looking at cars. Why? Do I want a new car? Do I need a new car? Am I bored? Whenever I even consider it, I kindly ask myself a few questions.
- Are you still renting? ...Yes😧
- Do you own any real estate? ...No🙈
- Have you fully funded your home downpayment fund? ...Umm not yet.😬
Once I've answered these questions, reality sets in and I realize that until I have fully funded my home downpayment fund, I should really think twice before even considering any big-ticket purchases that are not a necessity or something that is income-producing. After that reality check, a new car doesn't sound all that appealing.
When to Stop
My advice to you is to know when to stop. If you find yourself doing a lot of unnecessary shopping, know when to check yourself. Revisit your financial goals and make sure you're always working towards meeting those goals. You want to always be moving forward and unnecessary spending can slow progress or even take you in the wrong direction.
Managing your money like a boss isn't about spending just to be spending or just because you have it. It's about setting financial goals and staying on track. Spending is a distraction, stay focused! 👍