These Five Things Will Help You Think Before You Spend

Get your impulse spending under control

Impulse spending can be a very expensive problem, but it’s also become the norm for many consumers. You can either constantly tell yourself you need to think before you spend, or you can put these things in place, to force your hand, just a little bit.

Track the way you spend for a while and try to assess which factors correlate with mindless overspending, then put limits in place to make spending that way less convenient. If you impulse spend with cash, leave it at home. If you’re more likely to overspend with credit cards, maybe they need to stay at home. If online shopping is your downfall, try unlinking your cards from your favorite sites so you have to actually get your card and plug those numbers in.

Every time a marketing email lands in your inbox, a purchase is just one click away. A few marketing emails are genuinely useful in providing alerts and discounts for things we really need. Most just encourage us to spend on things we don’t need, and would never usually have considered buying. While you’re unsubscribing from all those marketing emails, consider if you need to install ad blocker on your devices too. Many of us have become fairly ‘ad blind’ over the years. But if you’re someone who’s constantly tempted to clink on online ads, you might find ad blocker literally keeps money in your pocket.

Persuading you to sign up for a subscription is perhaps the easiest way for a company to ensure you spend without thinking. From Netflix, to Spotify, to Amazon Prime, we’re all subscribed to something these days. Do an audit of all your subscriptions, monthly and yearly, and see if you really need them. Don’t forget things like the gym and online membership sites. And take a look at what, if anything, you have on ‘subscribe and save’ through Amazon, or similar sites. Check if your subscriptions are underused, too. Sometimes you can change to a cheaper version of a subscription and still get the benefits you need. Subscriptions can be convenient, but many of them go…

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