Grab Your Spending by the Horns

Have you noticed your spending creeping up again, perhaps in preparation for Uni? Kim Parr has found when sharing her financial woes, is much more likely to turn negative into positive. Here are some other issues, can you relate?

By Kim Parr

1) Groceries

Are you get fooled by shop advertising, seeing things on sale and buy them, even if you don’t really need them at the time. Finding yourself buying 6 boxes of granola bars because they were on sale could be a sign! Suddenly you decide to stock up on a few more items and the next thing you know you’ve spent £100 instead of the £20 you were planning.

How to fix the grocery habit: Don’t go back to the supermarket unless while there is food in the cupboard unless it’s for milk or fresh produce – even then go to an express or corner shop. Stick to a list and don’t be distracted by tricky sales pitches. Don’t buy 4 if you need just one.

2) eBay

You can justify the tonnes you buy on eBay because it’s all used stuff and much cheaper than buying retail, but it still adds up! Buying a box full of books, and some compression bags to save room in our suitcases – all nice things to have, but space out purchases and don’t buy them at the same time.

How to exit eBay: Stop buying anything until after Christmas, unless it’s actually a gift we have to buy anyway.You could even try making back all the money you’ve spent on eBay by selling stuff from around the house.

3) Books

Including the eBay books, plus the Kindle and iBook, could you be over budget for this category? I guess academic books don’t count, although just by saying that reading is an excellent hobby, and its good for you, you probably shouldn’t buy any more.

Avoiding the book: Maybe take it old school and go back to the library. Maybe waiting a week to get a book will be a good lesson in patience.

4) Corner Shops

Easily done, find yourself going to the shop between lectures, picking up a snack or pack of sweets, and some other junk food you like the look of but don’t particularly want. If you want to piddle away money, buy junk from the corner shop.

Skip convenience at all costs: If you get peckish in the afternoon, it passes. Don’t get anything other than what you went for. This should save about £7 in change a week that will go straight into a travel fund or saving pot. Realizing that giving up fizzy drink for a year will buy a plane ticket or a couple of nights in a hotel was the kicker.

Thoughts on Spending Money

Spending money is personal and I can’t decide for anyone other than myself. What’s your main goal? Saving? Paying off student loans? Spending priorities outside of basic necessities are what? Put your foot down on unnecessary spending that keeps you from those goals. So take a look at your spending patterns and see if anything has gotten out of hand. Are you justifying your over spending? From experience, it’s much better to squash it right now instead of looking back years later and wishing you’d done things differently!

Original Source: EyesOnTheDollar

Is there anything you’ve been spending too much on lately?


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