When I leave the house, I leave the credit cards at home. At the start of the week, I go to the ATM and withdraw my weekly allowance. My allowance is the only cash I allow myself to spend throughout the entire week.
I keep my credit cards in a place that I cannot access easily. Stashing my credit cards in my basement, attic, or the middle of my freezer typically curbs my spending cravings.
My family’s budget is under control because I choose to keep it under control. I am responsible for my family’s financial well-being. For this reason, I am strict with my purchases.
Before I commit to a purchase, I evaluate exactly what use I would get out of the item. If it is a necessity, I make the purchase.
If the purchase is unnecessary, I leave the store and give myself 24 hours to think it over. If by the next day, I still want the item and have found a good use for it, I make the purchase. However, most of the time, I choose not to make a second trip to the store. In this way, I curb my impulse purchases.
Due to my efforts, my family enjoys extra spending money each month. We can use that money as a family, by going to an event, taking a vacation, or purchasing things for our children.
I put the credit cards down because I care about our financial security. And so far, I am doing very well.
Today, I make conscious decisions about my purchases. I replace impulse purchases with peace of mind and financial security.
1. How do I spend the majority of my spending cash?
2. Have I ever fallen behind on my bills due to unnecessary shopping?
3. Am I okay with buying less expensive brands in order to save money?