Hope you've all had a good Easter and are enjoying the Bank Holiday. My family are coming to visit us. Yay!
After last week's post about potential changes at work, we've picked through the bank statement, identifying things that could be cut back on. Apart from the mortgage, we've got no credit card debt. I learnt that lesson the hard way. We've always saved, but adding some more whilst the process goes on can't hurt.
After last week's post about potential changes at work, we've picked through the bank statement, identifying things that could be cut back on. Apart from the mortgage, we've got no credit card debt. I learnt that lesson the hard way. We've always saved, but adding some more whilst the process goes on can't hurt.
It's easy to make spur of the moment purchases, but these are often things I don't really need.
I also comfort shop and buy things when I'm feeling worried or down. But buying stuff won't make the problem go away or me a better person. It works for a day, but the feeling soon wears off.
I need to be very careful at the moment so it's time for a spending ban. I've done these successfully before and here are my tips for making them work:
I need to be very careful at the moment so it's time for a spending ban. I've done these successfully before and here are my tips for making them work:
- Avoid temptation. Resist the devil and he will flee from you apparently. I've unsubscribed from emails from my favourite stores, deleted the shopping apps and won't be going window shopping - or any sort of shopping. Except for essentials like food.
- Set limits. Normally when I do a spending ban, it's because I've noticed that my purchases of particular items are creeping up or I have too much of something already. It's a way of resetting my spending habits or use things up. The ban is just for item x. This time, it's no holds barred!
- Motivation. If I want to succeed at something, I need a good reason for doing it. Something I can remind myself of when I'm not feeling very motivated or temptation strikes. Needing a bigger savings pot, just in case, is my motivation this time around.
- Wish lists. I'm putting the waiting back into wanting by using wish lists instead of purchasing them straight away. Usually when I look at them later, I realise it's a want not a need and delete it.
- Shop your stuff. Instead of buying something new, I use what I already have and rediscover old favourites. Whether it's makeup, clothes or books, I usually find that I've got something that will do the same job as the new thing I'm eyeing up.
- Just rip it up and start again. If I slip up, I forgive myself and start again. And take the item back as soon as I can. The temptation when things go wrong is to give up completely, but that's not helpful so I dust myself off and carry on.
- After the stick, the carrot. At the end of a spending ban, I usually give myself a treat / reward. If things go well at work, I can do that. If they don't, then the spending ban will remain in place until I find a new job.
As a blogger I need to be responsible too. Blogging can be very materialistic and enabling - buy this, try that, must have ... That's not necessarily a bad thing, but at the moment it's time to be more considered. I want to take that forward as well so I don't lead others into bad ways.
If you have any other tips for sticking to spending ban, then please share them in the comments. I need to stay motivated. Thank you.
Sharing with all these great Linkys
Sharing with all these great Linkys
I am afraid I am not the best person for asking for tips on this, but I love your tips! I need to use them!!!!!! With the house move soon I have spent way too much and now with hubby's job looking like going overseas we could be in trouble. I like the idea of avoiding temptation. I keep looking on Instagram and seeing awesome things, but it is materialistic and I know I don't need these things, I just love pretty things. I actually feel better about myself when I avoid temptation. Great post. #mg
ReplyDeleteAll the best to you and your husband. I know how horrible the whole process is. Will pray
DeleteI also go through phases where I want to shop and after I think about whether I actually really needed the new clothes or not.
ReplyDeleteSome good tips... Thanks for sharing .
Thank you :)
DeleteHope the job news works out well, it's a worrying time but I'm sure it's sensible to cut back. I did something similar as I stopped work for a year and a half and was surprised by how much I spent that I didn't need to. I've always been a saver but now - and since I've started work again - I save more and actually live on less than when I wasn't working. Packed lunches while they need some planning can save you a bomb. Fingers crossed for you though job-wise x #sharethejoy
ReplyDeleteThank you :) As I frequently say, it is what it is. I know exactly what you mean, it's so easy to spend small amounts without thinking, but they quickly add up. I usually brown bag my lunches as that can be ruinous.
DeleteOh no I'm sorry to hear about your job uncertainties. When we were first married we didn't have a bean so my material tendencies were curbed then and, have never really recovered ha! The materialism is the worst aspect of blogging for me. I wish you the very best of luck xxxx
ReplyDeleteThank you :)
DeleteGood luck, Nicola! It sounds as though you already have all of the tools to be successful in your goals. I'm taking a lesson from you!
ReplyDeleteIt's going well so far, but I am only three days in ...! Hope you're having a good day and thank you for co-hosting
DeleteGood luck with your spend curbing! These are great tips and good for you for being sensible at a time when things are a bit up in the air. Hope everything sorts itself out for you soon and thanks for linking up at #sharethejoy (Michelle from The Joy Chaser and The Essex Barn)
ReplyDeleteThank you for the good wishes and for hosting each week
DeleteI find making lists before going shopping helps. Once everything is crossed off I'm out of there. Too much wandering around aimlessly leads to discovering other things that I really don't need
ReplyDeleteWe do that now as well. It's the wandering that often gets me into trouble as well as they design the shops to encourage you to buy more stuff
DeleteSuch great tips. I am AWFUL for overspending. I tend to justify my shopping habit by buying stuff for the children. No more though!! I'm definitely getting better at saying no to myself. I find it's terrible in supermarkets so I tend to online food shop now. Thanks for linking up with us and good luck with your quest! #bigpinklink
ReplyDeleteThank you for hosting and the good wishes
DeleteGreat tips!I seriously need to do this too and, like you, I like to buy things when I'm feeling a bit down. I find the best way is to just avoid shops, if I don't go to town then I won't buy anything. Goid luck, I hope you manage to save some pennies xx #mg
ReplyDeleteI avoid shops as well. If I'm not there, I can be tempted. Thank you for commenting and for the good wishes
DeleteClassic ones are to keep a spending diary and stick to it. That way I found out how much I frittered away on little snack runs or the local corner shop.
ReplyDeleteFood planning helps a lot to save money but can be a faff so dedication is required!
If I have to buy anything I go secondhand or use Facebook pages / Freecycle to get it. I very rarely buy anything fun at full price and once I'm done it gets sold or traded in.
Coming from a different take spending on experiences is better than 'stuff'.
The wishlist is a great idea too as it helps others out when it comes to birthdays and Christmas!
Good luck!
#mg
Thank you :) I keep a spending diary, we food plan etc and I've added the 59 Seconds book to my wish list. I agree with your comment about experiences as well. There's so much emphasis on stuff, that it's easy to forget that experiences and memories are often free to create and are priceless. Thanks for the tweet too :)
DeleteThis is such a great idea! I have never heard of a spending ban but I could totally get behind one in the coming weeks and months. #TwinklyTuesday
ReplyDeleteIt's worth giving it a go. If you do, let me know how you get on :)
DeleteGreat tips. One I found really helpful is to ask yourself do I really need this?! I found this has helped make me stop and think X #twinklyTuesday
ReplyDeleteI find that one really helpful. I use it all the time :)
DeleteGreat post. I've often self imposed spending bans when I've needed to and actually quite enjoyed saving/having extra disposible income and a bit of a nest egg to fall back on. With mat leave coming up in the next few months im looking to cut back and be a bit more sensible to so will be doing some of these things so that we dont have to worry about money when im on mat leave. The other things that I have also done in the past that have worked quite well is looked at renegotiating or changing suppliers for things like sky or utilities. Likewise with the supermarket shop, ive looked at what brand items I can substitute for a stores own brands. I also love using things like QuidCo and searching for online voucher codes/free delivery codes for when I do need to buy things. Every little helps :-) Thanks for sharing this on #MarvMondays. Emily
ReplyDeleteIt does. I actually really enjoy doing it once I get into it and get really determined to see how long I can go without actually spending any money. Good luck and hope all is going well with the pregnancy :)
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