Sometimes we spend our money on things we don’t really need. Everybody is guilty of this except if you have never been to a store or a market with your own money buying stuffs you need.
Human wants are unlimited and this is why it is okay to appeal to your wants once in a while, but you’ve got to be in control lest your wants dictate your expenses every time you go to stores.
However, if your wants override your needs, and make you struggle with impulse buys and buyer’s remorse, you’ve got to learn how to stop yourself from spending your money on things you don’t need.
1. Determine what is important
Build a framework for the for the important items before going to stores or market to buy the products.
Instead of spending money on everything and anything you want, you can build a framework for the for the important items you need in your life. You can have a scale of preference and make purchases based on those preferences.
2. Cash Only
Most people buy things they don’t need on credit or debit card. Using your debit card only makes you spend more on items you’ll later find usesless. Before going to any store, make a list of what you want to buy, find out the prices of the items and go to the store with cash only .
How to manage your money effectively
You really cannot make savings without having a budget plan that guides your spending. You just can’t.
If you have a budget and follow it, it can be a great way to deter you from buying things you don’t need. It is very simple. once it is not in your budget
, don’t buy it.
4. Wait and think before buying it
Don’t make financial choices you might regret
Before letting your impulse determines your purchases, you may need to wait a little bit, think about that item before buying it. Thinking about it could remove the initial emotional reasons that stirred the buying decision.
5. Stop caring about what other people think
What we think people think about us sometimes prompts us to buy things we don’t need because in order to impress them. But hey, the people around you do not really care about your life as much as you think they do.
So, before you make a buying decision next time based on your concern for how people perceive you, you might need to wait and think about it.
Credit: PulseNG Lifestyle