Depending on my mood, I’m either trying to obsessively save (thanks to years of threats from Richard) or I’m in IDGAF mode with money. I’ve come a long way since my shopping addiction but I obviously have days where I *need* the expensive ass chair or a designer bag. So what I’ve found to work, just like everything else in life, is balance. Knowing how much I can spend each month without the rath of Paul or feeling anxious about it. Also knowing when I need to be in save mode and more cautious about spending. If you’re currently in save mode or are trying to be, here are 6 quick tips from me.
P.S. Paul went into money management in this article if you’re totally helpless like I used to be.
+ Go on a shopping freeze
If you suck at self-discipline, try the all or nothing approach with shopping. In this case, nothing.
Having strict parameters helps me when I’m struggling to stay disciplined with anything, including spending. So if you really need to save money right now, promise yourself you won’t buy anything but necessities, i.e. groceries, for 1 whole month. It’s a simple way to save money. Well, as long as you don’t go overboard and spend all that saving once the month is over LOL.
+ Do a sweep of your accounts
We do this every month and it’s shocking to see what I spend $$$ on with realizing. Aka how much I spend on food delivery. To be fair, I find that it’s an efficient way to eat well while getting work done (and that time working pays for the food + delivery charges), though there are definitely days where this isn’t the case and I’m just being lazy AF.
If you’re currently ignoring your credit card statement each month, start looking at it. Knowing how much you’re spending on pure laziness might get your ass in gear.
+ Get rid of auto-payments on certain things
Another reason we do a monthly sweep of our finances is to see if we can cancel any recurring charges. Whether it’s a workout program I’m no longer doing, a service I haven’t used in a month, or a business tool we don’t need anymore, we can usually get rid of one payment a month. Even if it’s something like $10 a month, that shit adds up!
Bottom line, make sure you’re not paying for things you don’t actually need.
+ Cut cable
With things like Netlix, Hulu TV, and the million other providers, there’s really not a reason to pay that massive cable bill. If you haven’t considered cutting that bill, consider it.
+ Buy mindfully
Buying more mindfully is one of the greatest things to come out of being in my 30’s. I used to buy so much sh* that I didn’t actually love or even like. I’d keep it because I was too lazy to return it or I’d wear it once and then regret it.
Now, I try to only keep what I actually love. There are way too many options out there to not be satisfied with what you own – even if you’re shopping at cheaper stores. This makes me keep / buy less and then I don’t feel bad about spending more on something I love and know I’ll have for years. Like my boujee ass furniture!
+ Shop for food more often
Tight on cash? Go to the store more often. Both farmer’s markets and local grocery stores will usually markdown produce that needs to be eaten that day. Again, it’s a small saving but it adds up.
What’s one thing you do to save $$ each month?