I turned impulsive buying into conscious spending

I used to spend whatever money I have earned and leave almost $0 savings for rainy days which I’ve regretted it after losing my 1st job because I didn’t earn much from as a sales designer then. It got me into a panic mode of finding jobs, ways to earn quick cash etc and I’ve learnt the importance of spending money consciously during recent years.

💸 1) Find out what triggers you to spend

For me would be social trends and emotions. I would save up money to buy the latest makeup product that I see from makeup YouTubers even if it’ll cost me half of my monthly allowance and then have it for in the cabinet for years. Most of the time when I’m feeling down, I’d spend on clothes/ food just to keep myself happy. Of course I still do that sometimes but I’d keep it to 2x a month and find other means to keep my emotions better (eg crochet/ watch my favourite anime)

💸 2) Set realistic budget for spending

I used to track every single spending I had for that month but I realised that the more I track, the faster my money would be gone (I don’t know why too). So I set aside a fixed percentage of my salary that I would spend for daily expenses, savings etc which works well for me. Of course there’ll be months where I’d overspend a bit but I’ll reduce my spending amount on the following month.

💸 3) Practice conscious spending

Is it a need or a want? I used to find everything a need because of trend/ wanting to fit in with my clique, but those items would be in a corner of my room to collect dust and given away to recycle bin. So, I’d advice to let it sit in your mind for a day or two and then check back if you’ve ever thought of that item again during this cool off period. If yes, then I’d ask myself if it’s a need or a want before I go and purchase the item.

💸 4) Quality over quantity

I guess this ain’t unusual. I’ve thrown away many white tops the past few years because it’ll turn yellow easily. So I went to buy better quality white tops that has lasted me for slightly more than 2years now. Of course sometimes, the price would be higher but if you calculate the amount of times you’d use it and the period that you’ll own it, I think it’s a wiser choice.

Finally, I learned to celebrate my small victories. Saving a little extra every month, resisting an unnecessary purchase, or sticking to my budget all became a moment of success to me. It’s important to appreciate these small steps towards financial health.

Share with me below any tips or struggles you’ve faced when it comes to managing spending! Maybe we can learn a little from each other! 😁

#mindfulspending #AdultingTips #financialwellness #moneymanagement