I think we can all agree that we are not the greatest when it comes to impulse spending and maintaining our finances in strict order. If you disagree, you are probably lying to yourself as according to a recent Gallup poll, only one in three Americans has a detailed household budget.
So obviously we have a bit of work to do when it comes to keeping up with the Joneses while maintaining hold of our budget.
I was in Barnes and Nobles not too long ago and I saw dozens upon dozens of self-help books that always have some weird solutions to life’s greatest problems. All of these self-help books usually end up on the New York Times Bestsellers lists because as human beings, we search for the quickest and easiest way out of a tough situation.
Well, when it comes to our budget and spending habits, we should take some time and think things through before making any impulse decisions.
Some simple little tips that I have noticed throughout all of the different guides, self-help solutions and money making gurus is that organization is key; that means, keeping an account of all your spending habits is very important when trying to curtail impulse buying.
Make a list for yourself, an Excel spreadsheet documenting all your purchase decisions for one week to see and interpret your own buying habits but be honest with yourself. Note when you take money out, how often, how many times you swipe your plastic buddy or use cash, these will all give you an inside scoop into your own spending decisions.
Once we have a detailed household budget of our old spending habits we can make way for the new; as in make adjustments where needed.
Some other useful tip that the gurus say are take money out for the week not $20 here $40 there; use cash instead of your credit card especially when going grocery shopping because we find it easier to swipe away our funds than when we hold the physical money in our hands.
These tips just scratch the surface of an organized budget plan but ultimately, the decision always starts with you.