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How to stop spending money, that's a question I get asked a lot!I know when you are looking to get your budget on track the most abundant advice you get is to stop spending money. I don't know about you but that is easier said than done! It's not as easy as snapping your fingers to just break old habits. It takes commitment and time but I can say with 100% honesty that I know it can be done! I'm living proof! Here are the tricks I used to stop my spending and a few others I didn't try that were recommended to me!
How to Stop Spending Money, 12 Clever Tips
My biggest tips are to try one at a time and work them in as you go. Don't dive in and try to completely change it will set you up for failure. Give yourself some leeway to just because one thing doesn't work doesn't mean your failed. Not every tip will work for everyone. Such as the sleep on it tip? It worked fine for a week for me but then I had to move tot he 3-day tip. Also the $5 challenge didn't save me much because I didn't end up with a lot of $5 bills!
- Sleep on it – This is the best way to avoid impulse buys! Normally that item you want right now doesn't look like such a good buy in the morning.
- Wait 3 days – If you want to take the above to the extreme then wait 3 days to buy.
- Work out what it costs in work time – Figure out how many hours you would have to work at your job to buy that item. For instance, those $100 shoes would take you 5 Hour BEFORE taxes at $20 an hour. after taxes could be closer to 7!
- Leave debit/credit cards at home – Heading to visit a friend? Leave the debit and credit cards at home. This will prevent you from being able to spend money you don't have.
- For every new thing you buy, try to get rid of an old thing – This will prevent many buys because you aren't replacing something. Also when getting rid of the old item make sure to sell it if you can to add money back to your budget!
- Have a no-spend day – If you normally spend the most amount of money on say a Friday make one Friday a month and no spend day. Don't spend money on a single thing!
- Take The $100 Challenge – Only carry a $100 bill with you. Many places won't take it and you are less likely tp spend it because mentally it hurts more to break a $100 than any other bill!
- $5 Challenge – Pay with cash and everytime you get a $5 bill put it away and save it!
- Have a change jar – Same as above use cash and put all your change in a jar to save. We save a ton by doing this and you don't even miss it!
- Balance before you spend – Balance your budget before you make a purchase. This take a bit of time and focusing on your budget will make you really evaluate your purchase.
- Cancel catalogs and email – All the junk catalogs that get mailed to you? Cancel them and take away temptation. The same goes with email it will take some time to unsubscribe from all those deal emails but if there is no temptation you will save more!
- Use a budget planner – Use a budget planner so you know where you budget is going. There are many free ones like Mint.com
What tips have helped you stop spending money?
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I am a Wife, mom to 4 kids, homeschool mom, blogger, social media junkie, Frugalista, Book Worm, and Closet Want-to-be Chef. We are a Roadschool family (homeschooling on the road while traveling fulltime).
I grew up learning ways to save from my mom and grandma. I started my own coupon journey when my first child was born in 2009 and started the blog on 2010 when baby #2 was born to share my tips with everyone who kept asking about how I was getting diapers for $1 a pack!
Click here to learn more about starting a blog.
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