You just got paid last week, yet in less than 2 weeks (and in some cases 1 week) you find that you have no money. If you get paid monthly then you are in a bad place. On the other hand if you get paid every 2 weeks you may be able to hold out for a few days until payday.

But why should you? Why do you have to struggle, living paycheck to paycheck? What are you doing with your money?

Well you may be wondering but what have you done to find it? Have you considered that your spending activities are causing you more pain than gain?

Ask your self the following:

1. Does any member of your family (or even you) make comments or complain that you spend too much money?
2. Do you have more shoes and clothes than you can wear, yet buy a new outfit for the next upcoming event?
3. Are you always over the limit on your credit card?
4. Do you buy the latest things – appliances, skin care products, etc?
5. Do you buy things because they were on display?

Well if you answered yes then you have a problem with impluse spending. You tend to use spending as a form of therapy.

What can you do? Well the first thing that you can do is to leave the credit card at home. If you find that you are feeling low – sad, depressed or angry, take a walk in the park, listen to music, watch a comedy. Above all do not go into the mall!! Make a list before you go shopping and take enough cash to cover those purchases. This focuses you to buy only those things that are necessary rather that what the advertisers want you to buy.

Learn to separate your wants from your needs. Knowing what is really necessary will help reduce purchases based on the advertising blitz.

These simple tricks can mean the diffence between an empty wallet and a few dollars. Which would you rather have?

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Tags: self assess, spending
Filed under: Frugal Tips