10 Tips to Avoid Spending & Save without Noticing!

TIPS TO AVOID EMOTIONAL SPENDING

Think about your values, set a saving goal, and encourage your friends to do the same. Then try keep each other accountable.

Next time someone wants to go out for lunch suggest an alternative; picnic, beach walk, only coffee etc.

Add friction by unfollowing brands, using ad blockers and removing credit card details saved by your computer.

Recognise the underlying causes of emotional spending. For me, it’s buying clothes when I have a low self-esteem.

Shopping is a visual experience that takes us out of our reality and provides a dopamine hit. Instead, seek dopamine from the anticipation and accomplishment of your savings goal.

Create a self-care list of alternate low-cost self-care activities. For example, a feel good music playlist, going on a walk, reading a book or working on a new skill.

Think about what your future will be like if you don't save money. This is known as inversion planning. Will you look back on your life and regret buying new clothes, or rather spent money on experiences? Make decisions your future self will thank you for.

If all else fails and I do buy clothes, I keep the tags on and wait a week, there is no shame in returning an item. I tell myself - life won’t get better because I buy this thing.

Don't compare yourself to influencers or your friends’ social media posts. You never know if the clothing they are wearing was gifted to them or they are wearing it for a photo and then returning it.

Keeping up with the Joneses is real. Did you know that in America, the neighbours of lottery winners were more likely to go bankrupt as they unconsciously spent more trying to keep up. Crazy! Your environment and who you surround yourself with can have a big impact on your spending habits.