In a world where Gucci, BMW’s, Caviar and the iPhone X exist, why would you want to control your spending? It’d be so nice to have it all right?
The answer to this is pretty simple- reality isn’t nice. Prices are soaring, wages are dropping and everyone is struggling. So how do you control your urges, cut back and not overspend? You could enlist the help of an independent financial advisor Bournemouth. In the meantime, keep reading for some simple tips that will help you!
We have outlined some easy ways to avoid overspending below:
1) ‘See the money’
It’s easy to look at everything in isolation and justify the cost. This purse is ‘just’ $50, and I ‘just’ received my monthly wage, so why not? The problem is that the more you say ‘why not’ and ‘just’ the price, the more you spend. To avoid this, keep a daily account of your spending, and tally it at the end of the month. Our advice, be ready for a shock! After that you’ll definitely want to cut back.
2) Use cash, not card
Using cash has a similar effect to keeping an accounting record. You actually see the money going from your wallet and into the cashier’s hand, you feel the weight in your purse reducing with every purchase. This also stops you from being physically able to overspend- you can’t buy something if you don’t have the money right?
3) Be clever, run towards the discount
This doesn’t mean becoming a real life Becky Bloomwood from the Shopaholic. It means being realistic, having a list of things you need and waiting to buy them during a sale. If you are a student, you can use your ID to get some great discounts throughout the year. The idea is to be clever, look for the best offers and watch your monthly spending drop!
In the end, it’s all about making a decision and disciplining yourself to stick to it. Remember when there is a will there is definitely a way! Any independent financial advisor Bournemouth can tell you that!
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