Sometimes I get into these spending “situations” (situations is definitely not the right word, but I can’t think of the proper one at the moment) where I make several purchases while going a long period of time without making money. I don’t know if that makes sense, but it’s pretty much spending money I should be saving/spending money I don’t have.
To get out of these “situations” (still can’t think of the right word), I do certain things to remember I’m a broke college student.
Here’s how to stop spending money:
If you have a credit card, checking your statement before you find out what’s due is a real eye-opener. When budgeting, you have to factor in your credit card payments if you want to keep a good credit score without going into unnecessary credit card debt. Sometimes, I like to pay off credit card balances in full when they’re due because I’ll accidentally spend a large sum of money in one month (I’m looking at you November).
Whenever I have an urge to spend money, I focus that energy on blogging or writing or building a brand (which might lead to making money one day and further my spending spurts, but we’ll cross that road when we get there). The time you spend shopping could be spent on your passion project… which could eventually lead to more money and less complaints about not having enough time to work on your passion project.
There’s not much I can say on this point. Similar to the last point, I focus my attention on something else. Whenever I’m bored and find myself online window shopping, I log on to Mercari and search my closet for stuff I can sell. The money you make from selling items could be used to buy something else. For every item that gets sold from my closet, I buy another item so there’s balance.
I know this sounds ridiculous, but hear me out. If you have multiple cards/bank accounts, put the card(s) with the most spending money in a wallet and hide it in your closet (this is normally the card(s) your paychecks go to); make sure you hide it somewhere you won’t forget it. Leave out the wallet with the card(s) that have the least spending money. This really helps me control my budgeting and spending.
I hope these four tips were helpful. As someone who goes through long periods of time without money, I find these four methods really help me save money and stop my spending spurts, especially around this time of the year.
What are some ways you budget and save money?
Featured image credit: Sharon McCutcheon