How to curb your overspending
By simplegal
@simplegal (123)
Philippines
January 6, 2007 5:41am CST
Bitten by the buying bug? Try these strategies to curb your spending:
KEEP TRACK - Write down evrything you buy for at least two weeks: groceries, petrol, even a cup of coffee. Being aware of where your money goes will put you in control.
QUELL THE URGE - Postpone buying what you think you want for 48 hours. If you still want it, make suree your well-thought-out purchase.
SIMPLIFY - Figure out a weekly budget that includes only basics like food and transport. Don't buy anything not in your budget for a month to discover what you can do without.
QUIT COLD TURKEY - Put your credit cards away and pay for everything with cash. Even better, institute a buy-nothing campaign.
2 responses
@cheongyc (5072)
• Malaysia
6 Jan 07
I come from a trifty background, so i have a few more to suggest, but not sure it work in other place as well:
1) Compare price before you buy. A little effort is needed, keep track of the prices of same product in several markets. Choose the cheapest if the cost of transport is the same. Cost of transport is important, coz it will add to the total buying cost. It's just won't worth it if you buy a thing $0.10 cheaper but need a higher transport cost of $0.50
2) Plan for the shopping timing. Buy ahead (for something is not time sensitive and not decayable) when you know the price is low and you foresee you gonna need it. Eg, like buying a dish washer. But it when there is an offer 50% of original price.
3) Don't buy something you really don't need or you 'think' you need. Spend wisely.
4) Compare price vs quality. Not only do we need to look at the price, but the quality is important too! Eg, buying a shoe at $10 which could last 1 month is not worthy compared to buying a shoe at $60 but could last 1 year. What do you think? :)
5) Be alert of discount, offer, coupons in the market. It will surprise you something. Exchange infor with frens. Helping each other will keep the infor going.
@xXxTRICKxXx (368)
•
6 Jan 07
i have no problem of that i have nowt to over spend, a basic £1 is overspending for me ,
