Reduce impulse buying

Before purchasing non-essential items ask yourself:
  • Can I live without this item?
  • Based on my financial situation, can I afford it?
  • Will I actually use it? Do I have space for it?
  • How did I come across it in the first place? (Did I come across it after wandering into a gift shop out of boredom?)
  • What is my emotional state in general today? (Calm? Stressed?)
  • How do I feel about buying it? (Happy? Excited? Indifferent?)
  • How long will this feeling last?
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Money

MORE IDEAS FROM THE ARTICLE

  • Leave the item for 24 hours. If you still want it and can afford it, then make the purchase.
  • Don’t let “blowout sales” tempt you. Ask yourself if you would buy the item if it were full price.
  • Check your bank balance first thing every morning. It will ensure that you are aware of how much money you have to spend.
  • Spend in cash. Handing over cash makes you more conscious of what you're spending.
  • Put a sticker to your credit card that states "Do you really need this?!"
  • Change the environments that cause you to spend.
Kakeibo

Kakeibo translates as "household financial ledger" and is a simple approach to managing your finances.

For the past 116 years, kakeibo has been effective in helping people make smarter financial decisions.

The idea behind kakeibo is to help you understand the relationship with money by keeping a ledger with all incoming and outgoing transactions.

The difference from other budgeting systems is that kakeibo emphasizes the importance of physically writing things down as a way to observe your spending habits.

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RELATED IDEAS

Whether it is about your money or a person you are not fond of, avoidance is the key to a life without unpleasant events. 

Every now and then individuals feel the need to avoid checking their accounts, so they could sleep better and feel less stressed.

How Do I Get Over Anxiety About Checking My Bank Account?

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Money Hacks

# Writing every transaction down

# Using a spreadsheet to track your spending habits

# Loving credit cards

# Never thinking of purchases in terms of *present* value

# Studying computers (there are loads of unfilled computer jobs)

# Using tools that aggregate all of your accounts into one place.

6 of My Favorite Money Hacks

budgetsaresexy.com

Coupons are sold in lots to allow couponers to stock up on the best deals.

While coupons are great to save money, it does not make sense to spend on coupons in order to save. Coupons vary greatly by geographic location and store, and may not apply to your geographic area. Instead of buying coupons, get the Sunday paper for better ads, download an app or keep a coupon binder to stash extras.

9 Money Myths & Mistakes That Could Cost You

moneycrashers.com

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