How can I eliminate the urge to splurge?

by B Simple

in Budgeting

Splurging – Spend (money) freely or extravagantly .  All of us do it every once in a while.  We go to the store with a list of things to buy or a set amount you plan to spend but you saw something you just could not leave the store without.  You ask how can I stop the splurging and stick to my budget.  Well it takes some self control to stop the splurging but sometimes that does not always work.

So here are some ways to help you eliminate your splurging and help you stick to your budget:

Plan ahead before you leave home.  Create a list of the items you need to purchase.  Only purchase those items on the list.   I know this is easier said than done.  But it helps you focus only on the items you need instead of just wandering around the store purchasing things you really did not need.  I have a hard time with this one sometimes.

Do not bring the credit cards with you.  If you know you are going to the mall or store where you have a tendency to splurge remove your credit cards from your wallet or purse.  This way it helps prevent you from overspending.  If you have to only keep one card in with in case of emergency.  An emergency is not the extra pair of shoes or jeans you must have

Do some research before you buy. Before you go make a large purchase do a little research to see what you should pay for that item.  You may find it cheaper somewhere else instead of buying it at the first place you visit or first time you see it. I hope you do a little research before you purchase a new car or new house.

Budget for it.  If you have a tendency to purchase extra things when you shop then add it to your budget.  If you know you will always spend more than you planned on spending make sure you are capturing it in your budget.  Make it a month line item if your budget allows it.  But it should be your last item on your budget.

Hide your money. If one of the above tips does not work or if you have a tendency to splurge because you see extra money in your account, try hiding your money from yourself.  By hiding it you are not tempted to spend it because it is not visible.  Here are some ways to hide your money from yourself.

To help simplify your personal finances, you must begin to eliminate the splurging.   Eliminating the splurging will help you save more as well as help you  stick to your budget.  So which one of these tips will you begin to implement to help you combat your urge to splurge?

Remember take one step at a time in order to simplify.

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{ 1 comment… read it below or add one }

Leonard @ The Wallet Doctor

These are some great tips! I like to make myself wait to buy any item I think I really want. If I still am thinking about how awesome it is two weeks after initially discovering it, I will try to budget it in. Otherwise, just letting myself get it when I first have the instinct can lead to expensive items I don’t really use. Thanks for the post!

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