Most people are prone to making easier choices rather than rational choices. If you want to manage your finances and avoid spending too much money, you need to condition yourself in such a way that there are lesser incentives for spending.
If it is really easy to spend money, you will do that more often than put money in your savings account. You would go out shopping, eat out regularly, and indulge in many needless expenses. Here are some tips to save money by making spending difficult for you.
Keep Shopping Cues Away
Stay away from shopping websites. You are less likely to do online shopping if you have to go through the entire process of registration and entering your credit card number when you want to buy something. On the other hand, if you have entered all these details and created an account on the web site, there is a much greater chance that you’ll make impulsive purchases of products you don’t really need.
Similarly, avoid going to expensive stores even if you are going there just for window shopping. Everything in stores is presented in a manner to tempt consumers to make a purchase.
Avoid eating out
Choose cooking at home over eating out. While it takes more effort, it can save you a significant amount of money. You can make it easier for yourself by cooking your food in advance so that you don’t have to cook when you are tired. This will also minimize your chances of opting to eat out just because you’re not in a mood to cook.
By avoiding junk food from restaurants, you not only save money but also take better care of your health. Think about the health expenses you might incur if you eat junk food regularly.
Reduce your available cash
You should also avoid keeping too much cash in your wallet and reduce the limit of your credit card. This will lower the amount of ready money you have and you will be unable to spend too much.
Similarly, you should avoid keeping most of your money in a checking account. Keep your funds in a savings account that does not have a debit card. This will make it difficult for you to withdraw money for impulsive purchases. It will also bring in financial discipline, and ensure that you have a much more comfortable future.