How To Avoid Overspending And Save Money

Money doesn’t grow on trees, or technically since it’s paper, it does right? :p Anyways happy winter ya’ll.  So we’re slowly approaching the winter time, and if you’re anything like me, you convince yourself that you actually need a new wardrobe. Because why not? The stuff that you wore last winter has somehow gotten old over the past 6 months, or simply ” out of style”. So now, you’re trying to go shopping, and this is the ultimate excuse to spend the money you’re supposed to be saving. Now we both know it’s a bad idea, but that Montclair winter coat, and those Hilfiger boots are looking real cute and you’ve already started imagining your OOTD, But WAIT..

We all know that spending money is a lot easier than keeping it in your pocket or  in that savings account , but it’s as though these retail and tech companies are testing us. I have at some point  been somewhat of a shop-o-holic myself, specially online shopping had me doubt my willpower to say no. I kept adding to that shopping cart and had ‘multiple multiple multiple’ ( Love&hiphop Hollywood reference, if you know, you know :p) packages rolling in.

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That was then though, and this is now. Below i have listed a few tips to minimize money spent on shopping and let’s together fight the urge to splurge, and leave this habit behind.

  • Differentiate between a “want” and a “need”, meaning, ask yourself,  is this item a necessity or is it simply an accessory that can be replaced with something similar, maybe something already in you wardrobe.  We often invest in stuff thinking that we need it and realize down the line that, we in fact  bought this item, for the sake of buying it.

 

  • Recycle last years outfits. Winter outfits are only meant to be worn for a season, and therefore the likelihood of your winter outfit getting ripped and becoming un wearable is usually small ( unless you’re a hunter or live with an aggressive bear that rips your ish up 😀). Reuse that coat or pair of  boots and pair them with a new sweater. We often buy new clothes while we already have perfectly wearable outfits stacked in the closet, just sitting there and collecting dust. Ain’t nobody go time nor space for that.

 

  • Shop in stores  and pay cash- If you have a choice between shopping online or in stores, opt. out of the internet and use cold cash. I’ll explain why. Sometimes when you use a credit card to pay for your shopping, you can end up forgetting the actual cost and swiping that card left and right can take you off track real quick. Set a budget and withdraw cash and stick to your maximum budget. In fact leave your credit card at home. Depending only on your cash money can restrict you and make you hold yourself accountable. And the keyword is ACCOUNTABILITY friends.

 

  • Pause and ponder for sec, before you click ‘confirm payment‘ on your online order. Never purchase an item online straight a way. Trust me, i learnt the hard way. Right after you’ve decided whether the item is a ‘want’ / ‘need’, wait and leave the order in your shopping cart for at least 1 day. This gives you time to really evaluate and figure out if this really is worth your coin.

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Being financially stable and conscious should  be our real life #Goals. Saving money isn’t easy, but the most wealthy and  successful people in the world are people who have learnt not to be impulsive when it comes to spending. We don’t have to go overboard and be stingy. It’s okay to spoil and treat yourself, however the aim is to be conscious. It’s all about balance. For me my aim is to minimize that infamous ” buyers remorse”. Thinking about saving for my dream car, or that once in a lifetime traveling experience is what’s motivating me ( or so i tell myself).

If you’ve read this far thank you so much. I hope you find  these tips beneficial and that we together are able to ditch the habit of overspending money, and avoiding that damn buyers remorse. What other tips do you use to combat impulsive shopping and overspending?. Comment below and let me know, i’d love to hear your thoughts. Until next time.

 

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8 thoughts on “How To Avoid Overspending And Save Money

  1. Great read, I like your suggestion on recycling last years outfits. I really should seasonize my clothes, makes for less buying for clothes once a new season starts. Thank you!

    Liked by 1 person

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