"To acquire money requires valor, to keep money requires prudence, and to spend money well is an art."
Berthold Auerbach
I feel really aware of my spending at the moment.
Maybe it's because we had a dreamy (and expensive!) summer holiday ...
Maybe it's because Christmas is on its way (gasp - did I just use the 'C' word?!) ...
Maybe it because it is hard to ignore the doom & gloom of the nation's finances ...
You know what? It's all the above, and a bit more.
You see, I love to spend and enjoy my money,
and I also like to save not just for a rainy day, but for the short- medium- and long-term.
I am acutely aware that maintaining that balance between spending and saving can be tricky, especially as our personal landscape is always changing.
Reining in our spend can be challenging
and it is so easy to let our spending spiral ...
💳 Tap tap we go with our bank cards,
hardly glancing at the amount on the till.
📱 Tap tap we go on our phones,
ordering things out of boredom or convenience or because we 'deserve it'.
💻 Tap tap we go on our laptops,
buying the latest phone/bread maker/moisturiser that your neighbour, colleague or friend has & you feel you should keep up with the Joneses.
Tap tap tap …
And then there’s no money at the end of the month.
Or we dip into the savings we had planned not to touch.
Or we don’t pay off our debt that is worrying us.
Or we spend the bonus we had hoped to invest.
Or we don’t save towards the dreams & ambitions we have. Does this sound familiar?
The good news is ...
... there are steps you can take to stop the unhelpful spending patterns that you have noticed.
➡️ Create a daily SPEND TRACKER to keep you on top of how you spend, when you spend and what spending habits you would like to change
➡️ Practice being super disciplined and take a BREAK from spending. Other than your essentials (groceries, bills, fuel), have a non-spend stint for a day, a week or even a month to kick start changing your habits.
➡️ Rather than buying on impulse, ASK yourself if you need the purchase or if you want it. And if you want it, is it worth the cost?
➡️ Look at your bank statement & see what story it is telling you about your spending habits. How might you like to CHANGE that story?
➡️ Take a BREAK from spending. Other than your essentials (groceries, bills, fuel), have a non-spend stint for a day, a week or even a month to kick start changing your habits.
➡️ And don’t forget WHY you want to rein in your spending. What is your ambition, dream or goal? How amazing will you feel when you reach it?
Remember that you have the power & it is up to you to make useful, purposeful changes.
Own it - focus & commit.
What has resonated here with you?
What one small step could you take to help rein in your spending habits?
Drop me an email and let me know how you get on!