I am mindful of my spending habits
I realize now that money does not grow on trees. The temporary financial struggles of our past have proven this to be true. For this reason, I am cultivating the consciousness of my spending habits
It is simple to swipe my card and worry about the consequences of my purchase later. However, I have an ingenious tactic to curb unnecessary spending. I directly correlate the purchase amount to the number of hours I need to work to earn the money for the desired item.
If I earn $20 per hour and I am considering a $150 purchase, I must work 7.5 hours to earn that amount on my paycheck. This leaves me only $10 for my 8-hour time investment, not to mention the deductions, taxes, and other living expenses!
Weighing my purchases in this manner immediately curbs my spending.
I make purchases with a practical mindset and I avoid letting my emotions rule my money
I pull in the reins on my spending for the sake of my entire family as well as for myself. I would much rather see our money sitting soundly in a savings account than draped over a sofa in the form of a throw or on my hair in the form of highlights.
In this economy, frugality is king.
Today, I intelligently weigh my purchases. If I do not need the item, back on the shelf it goes. My money is better spent elsewhere.
- Which stores typically generate an impulse purchase?
- Can I shop online to minimize the temptation of impulse buying?
- Do I shop emotionally or practically?