Spending $20 here and there may not seem like a big deal, but small, daily purchases can add up to a large amount of money over time. Save that $20 a few times a week and it can become as much as $4,000 a year.
First – work out how much you are really spending
Check your bank statements and add up all your impulse purchases over the last three-six months. This might include online shopping purchases, fast food/coffees and that kitchen gadget that you just had to have.
Make an inventory of what you have
You’ll be surprised at how many wine glasses, t-shirts, or bottles of nail varnish you own – or even pairs of shoes you don’t wear.
Declutter what you don't need
Start getting rid of all the stuff you've bought over the years that you don’t use. This includes clothing, exercise equipment, kitchen supplies and DIY supplies. Then, make sure you don’t replace what you’ve just decluttered with more!
Unsubscribe
Go over your inbox and unsubscribe from all online shopping temptations!
Don’t buy it just because it’s on sale
Let’s face it, these days there is always something on sale, so if you don’t buy it, you really won’t be missing out. Basically, if you don’t need it, don’t buy it (even if it’s 75% off!).
Leave it for 48 hours
When you see something that seems irresistible, wait 48 hours before buying it. This will allow you to think about whether you need it rather than make an impulse purchase.
Avoid shopping centres!
If you can’t see it, you won’t buy it! If you usually go to a shopping centre to do your grocery shopping – use online shopping with home delivery or delivery to your car.
Put down your phone
Look at your phone less. Those ads that constantly pop up are a temptation you may not be able to avoid!
Plan for something
Decide to put the money you save towards a larger item, like a holiday or home renovations.
