Changing Inside Out Now!

Monday, May 28, 2012

Keys to Successful Living and Stress Management – Part 14

Plan on how to spend your money. Uncontrolled and impulsive spending is the root cause of all financial worries

Have you ever seen something that you wanted to purchase, didn’t plan on spending that extra money and when you did found yourself financially set back because of it? I know I have. You go out to spend $20.00, see something really cool and end up spending $40.00 instead.

Whenever you engage in uncontrolled and impulsive spending it can affect your financial bottom line leaving you feeling stressed out because of it. By planning on how you spend your money each month you can help yourself overcome your uncontrolled and impulsive spending habits.


Have a monthly budget

If you have a monthly budget you’d have a clear picture of what’s coming in, what’s going out and what’s left over. With that information you’d see where you stand financially so you don’t go into money that you need to pay your bills or use the money that you set aside for savings.

Become conscious of where your money is going

You’re aware of how much you’re spending for mortgage or rent, phone, internet etc. but what about things like your grocery bill or the little coffee or snack that you pick up each day? Knowing where your money is going each day will give you a better idea of how you’re spending it so you make better choices and conscious decisions about spending your money.

Put aside money for extra spending

When you review your budget on a monthly basis, set aside extra money for spending after you’ve put some aside for savings. If you allot say $100.00 extra for spending then you know that after the $100.00 is gone that’s it, no more. It does take a certain amount of self-discipline if you’re used to just blowing everything right away but it can be done with some persistence.

Ask, “Do I really need this?”

Another thing you could do is stop yourself right in your track and ask yourself if you really need the item you want to buy? Is it something that’s going to be put on the shelf unopened or is it going to be used right away? Watch out for the emotional pull at the time you see the item – you know, the ones that pull at you when you see a purse, or shoes, or necklace etc. and when you go home you wonder why you bought the thing in the first place when you have about twenty more or them at home that you never even use.

Don’t use your credit card unless…

Do you have the money to cover the purchase? Making your purchase on a credit card when you know you don’t have the money to pay it off when the bill comes only sets you up for more financial stress. Yes, there are situations that are unavoidable and you may need to use the credit card to take care of it right away. But that’s dealing with emergencies not impulsive purchases.


  1. Hi Alicia...Oh, I have definitely done that. It really is important to plan ahead. The saving "extra" for rainy days always comes in handy. Hope your day was good. Take care. susan

    1. That's great Susan. You never know when that extra money will come in handy. Yes. I had a great day. Have a blessed week.


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