CandaceC Posted January 14, 2013 Share Posted January 14, 2013 I would love to hear some practical ways to change my bad habits in the area of spending!! I don't spend a LOT, but it's those $2 candles at walmart, the drive thru for a $3 meal...those things I do WAY TOO MUCH. I really, really want to break these habits. We are trying really hard to stick to a budget and I am the problem! :laugh: One way that I spend less is just plain ole staying home. But I can't do this forever. :crying: When we are out at meal time I'm going to try and think AHEAD the night before and pack snacks/food for us - and water bottles. I know it's not healthy to eat the fast food, we eat pretty healthy at home...but it's seriously like a HABIT when I get in the car, I want a big sweet tea or something?!?! UGH! Any suggestions? Quote Link to comment Share on other sites More sharing options...
mytwomonkeys Posted January 14, 2013 Share Posted January 14, 2013 budget. still spend, but budget an allowance for things so you don't look back & wonder where your money went. with a budget, i find i am so much more intentional in my purchases. i still buy some knick knacks, but they don't nickel & dime me to death anymore. :) we also have a recreational fund for eating out & movies, etc. when it's gone, we're done. Quote Link to comment Share on other sites More sharing options...
Annie G Posted January 14, 2013 Share Posted January 14, 2013 I bought a Tervis tumbler and never leave the house unless I have a bottle of water to drink OR fill my Tervis with something I like to drink. I need to stick to water, but taking sweet tea or a made-at-home iced coffee is cheaper than Starbucks/drive through AND it helped me break the habit of buying a drink when out. The kids have figured out that if I have a drink, I'm not stopping for them to get one...so they have learned to bring something, too. No advice on the impulse spending at Walmart - I don't struggle with that. I do know that shopping alone saves me a ton of money! Quote Link to comment Share on other sites More sharing options...
Annie Posted January 14, 2013 Share Posted January 14, 2013 I think the easiet way to do it is to move to cash for those type of purchases. Give yourself a budget (I would start wih weekly until you get more disciplined), and then when the cash is gone, it's gone. Start with a reasonable amount of money to start with (maybe something like 75% of what you normally spend?), and then move the amount down to what you want it to be at over the course of a month or so. Making a huge change at once is hard, especially when habits are involved. Quote Link to comment Share on other sites More sharing options...
CandaceC Posted January 14, 2013 Author Share Posted January 14, 2013 Thank you, ladies! These ideas are great! Keep them coming. :) Quote Link to comment Share on other sites More sharing options...
Cinder Posted January 14, 2013 Share Posted January 14, 2013 Try not to carry cash--or at least not much cash. It's easy to go through the drive-thru when I have cash but it takes more thought and effort when I don't have cash. If I do make a fast food stop I won't hand them my credit card so I have to park and go inside, and most times that makes me reconsider. Also I usually bring a drink with me when I'm out and about. A lot of times I'll make up coffee or iced tea to bring along. And if the dc are with me I usually bring a snack so we don't buy stuff from the store just to snack on. I try to plan ahead on fast-food or store-bought quick snacks so that I'm not nickel and dime-ing my budget. I still have trouble passing up good deals, though. I'm not talking about everyday stuff I need; I'm talking about good deals on fun stuff I don't *need*. It's an ongoing challenge. Quote Link to comment Share on other sites More sharing options...
mytwomonkeys Posted January 14, 2013 Share Posted January 14, 2013 I think the easiet way to do it is to move to cash for those type of purchases. YES! totally agree. i am a cash only gal. i would not do well otherwise, lol. Quote Link to comment Share on other sites More sharing options...
Mnemosyne Posted January 14, 2013 Share Posted January 14, 2013 I've learned to budget for those impulse purchases. I have a small monthly discretionary fund as well as a certain amount budgeted towards eating out, household supplies, etc. Once the money is gone, it's gone. Something else that has helped is inputting the purchases directly into my phone (I use YNAB, which comes with a free iPhone app). I'm much more aware of my spending now, which has cut down on impulse buys drastically. Quote Link to comment Share on other sites More sharing options...
speedmom4 Posted January 14, 2013 Share Posted January 14, 2013 I really understand where you are coming from. I love to buy little things here and there. I especially love buying things for my house or new books! But now I have a plan. I still buy things but I have a budget for it. Are you familiar with Dave Ramsey? His book The Total Money Makeover and his classes through FPU would be a good place to start. He teaches how to budget and the importance. Also You Need a Budget is another great resource. I began budgeting in September of '09 and it has changed our lives. I'm not being dramatic either. It really has. My marriage is so much better and I feel like I'm controlling my money instead if the other way around. I would recommend going to cash for miscellaneous expenses as well. There are many studies on the psychological effects of spending cash vs a credit/debit card. People typically have a harder time spending cash than using plastic. Getting control of spending is one of the best things you can do for yourself and family. Even if you are only spending a little here and there it adds up! God Bless, Elise in NC Quote Link to comment Share on other sites More sharing options...
elegantlion Posted January 14, 2013 Share Posted January 14, 2013 Pay cash for all incidental purchases. Write down everything you spend for 30 days. Use a little notebook and force yourself to write it down when you purchase. For those impulse purchases at stores, stop and ask yourself if it is a need or a want. Then decide if this is how you want to spend your discretionary cash. Does this item enhance your life or hinder your goals. I would do this about 3.00 magazines, clothes in the clearance section, that really cute basket on clearance at Hobby Lobby, everything. If you are undecided, leave it there, don't put it in the cart and decide while you finish shopping, you won't. Sometimes you do need a candle, most of the time you don't. I also consider the long term impact of an item in my house. I love to decorate, but after years I've developed a nice cache of stuff. Most of it was not bought retail. I still find Target a big distraction. I often pass over some really cute stuff because it won't fit in my style and I know the "high" you get from buying will subside once you realize this item will be collecting dust in two weeks. Fast food. I hate drive-thrus. I can never hear a person correctly, so for years, I'd make myself park and go inside. It was usually quicker and if I'm going to wolf down some fast foot at least I can walk in there and burn off those calories by actually getting out of the car. If I have a weaknesses, I recognize it and make it harder for myself to fall into that trap. It really takes a shift in mindset and discipline to stop the endless buying. Paying cash and only carrying so much cash is helpful. Quote Link to comment Share on other sites More sharing options...
Lady Marmalade Posted January 14, 2013 Share Posted January 14, 2013 I agree with most of the tips already shared. I always carry a water bottle with me now. When weather permits, I have a stash of water bottles in my van for everyone, but the kids have gotten good about carrying their own too. I usually have a granola bar or two in my purse, but when I don't, I always have gum. Chewing a piece of gum for a while can get me to stop thinking about food at that moment, and then I am able to wait until I get home to eat something. Something that hasn't been mentioned yet is to carry cash for those purchases you would normally make, only instead of making them, when you're just thinking about them, take the money you would spend and put it in a jar or a zipper bag in your purse. Every time. At the end of the month pull out that pile of money and see how much you've saved by NOT spending that money every time. It may surprise you. Multiply that by 12, and could that be enough for a big ticket item you've been looking at? For me it was enough to pay for my family's annual camping vacation. Also, just stop shopping, and when you do need to go, become a power shopper. Have a specific list, and when you go into a store, go directly to those items and then straight to the check-out. I had to stop shopping for fun to break the spending habit. One of the stores I get in trouble in is Jo-Anne's. I'm always wanting to buy fabric, yarn, patterns, thread, etc. Instead of wandering the store, I stick to my list. I go right to the item I'm in need of, pick if up and head to the checkout. It helps too, that I always have a coupon from the paper for there that is 40% off one item. If I stick to that one item, I'll get it for nearly half off. And don't shop unless you absolutely need to. We've started trying to see if we can live without that item that needs replacing. Or see if you can repair it, or get clever and find something else around the house to take its place. A good example of that is my slippers. They're boot-style, but the top no longer stays up, and I spend my day hiking them up, and they were annoying me to the point that I decided to go buy a new pair. Only then I thought about how a simple piece of elastic might fix this problem. I dug out my sewing kit, and now these slippers are as good as new, and I saved by not buying a new pair. We've solved a lot of simple household problems by simply re-purposing something. Quote Link to comment Share on other sites More sharing options...
QueenCat Posted January 14, 2013 Share Posted January 14, 2013 Carry drinks with you.... I keep snacks in the car too. Think along the lines of granola bars and trail mixes. Something with actual protein to fill you rather than junk. The candles I would still buy, as for me, that's a regular staple. I always have candles lit when we're hanging out downstairs. Quote Link to comment Share on other sites More sharing options...
Lily_Grace Posted January 14, 2013 Share Posted January 14, 2013 Cash envelopes, and invest in what makes you happy. I don't just carry a water bottle, I carry an insulated stainless steel one that I love. I don't buy preground folgers. I spend $6/week on whole beans and another $3 on cream. This is what makes me happy - quality things that give me a desire to use them over and over. I end up spending money because of convenience or it's cute. If I keep my rules in mind, I feel much better about what I DO finally end up buying. 1. It has to be in the budget. I have an allowance, just like everyone else in my family. 2. It has to have a place in my home. I need to visualize where it will be stored and how it will be used. 3. If it's a souvenir, I limit myself to one per trip. I find I spend a lot less when I have to pay cash and a lot more when I use plastic money. It's harder to watch 5 twenties disappear than it is to swipe a card for $5, $10.23, $3.46.... Quote Link to comment Share on other sites More sharing options...
CandaceC Posted January 14, 2013 Author Share Posted January 14, 2013 Thank you all...thankfully I'm married to an accountant who creates spreadsheets for fun. Ha!! So he helps balance me out...he would never spend a dime. On anything. Ever! :) I'm going to show him these ideas and see what we can come up with. I think having an allotted Amouny of "blow" money for myself - cash - would be good. Just out of curiosity - do any of you have a blow money fund for yourself? How much? Does it include fast food? Thanks!! Quote Link to comment Share on other sites More sharing options...
Mnemosyne Posted January 14, 2013 Share Posted January 14, 2013 I personally have $100/month. This includes clothes, makeup, books, food - pretty much anything just for me. It rolls over to next month so I can save up for more expensive items. Quote Link to comment Share on other sites More sharing options...
Annie G Posted January 14, 2013 Share Posted January 14, 2013 Fast food isn't usually taken from my blow money- we have a budgeted amount for eating out. But if I stop at Starbucks, I take it out of my blow money because it's not a meal, it's just a splurge for me. As for the amount- I'd rather not reveal that, but I do think what I do with my blow helps me save. I refill our budget accounts every two weeks (easier for me than doing it by the month), and if I still have blow leftover from the last period, I put that in my savings account. I do NOT accumulate blow money in my purse. I track how much of my savings balance is saved spending money, so I still have it available when I need it for a larger purchase. When I carried over my blow money- to save for a larger purchase or something, it was easy to see it in my purse and just spend it. When I limited it to a two week period, I found that I saved a ton of my blow. Each two weeks is a new beginning for me, and I just do better with small goals and short periods of time. Quote Link to comment Share on other sites More sharing options...
NotSoObvious Posted January 14, 2013 Share Posted January 14, 2013 Stop shopping at WalMart. Seriously. Meal plan, buy groceries at the grocery store, and never go to Target or WalMart unless you need something specific. Make it a once a month trip or so and sick to your list. I shop at Whole Foods and live 20 min from town and I know I spend less now than I did when I lived down the street from Target and WalMart. Shopping is a habit, like anything else. Fill your time with something different. Find ways to make it more difficult on yourself. Budget for one fast food meal a week and stick to it, etc. Quote Link to comment Share on other sites More sharing options...
FloridaLisa Posted January 14, 2013 Share Posted January 14, 2013 For me, I needed a budget AND a cash envelope system. Regular monthly expenses are paid online, but the personal fun money, the family money, the medical expenses, school expenses, clothing and food expenses are all done on a cash basis. It's very, very easy to decided whether to buy a $2 candle or drive through McDonald's when there is xx amount in the envelope. You can decide quickly and easily whether each expenditure is worth it. There is nothing more freeing than using the fun money to have fun completely GUILT FREE! Because you have it and it's budgeted. Hope that helps, Lisa Quote Link to comment Share on other sites More sharing options...
Deb in NZ Posted January 15, 2013 Share Posted January 15, 2013 Looking back I was "nickle & diming" us broke. Bigger purchases I researched & discussed, but little purchases I didn't give much thought & they add up to heaps over time. Years ago, when we lived in the islands, we used an envelope system & it really worked. I gave dh & I separate "allowances." Now 15 years later, most of our spending is with cards, so I couldn't see how envelopes would work, like before. I signed up for the Low/No Spend challenge & it is working as I made the commitment to myself to not buy anything that wasn't a big need (i.e milk)or previously discussed & agreed upon (i.e. ds#2's b-day gift). It's working, but it IS hard. Today I had some time to kill in town & I wandered through the bookstore. All the Back to School sales are on & stationary is a real temptation for me, but I made it through with NO impulse buying. I did tell myself that the sales will go through mid-February, so I could stock up in February if I wanted. Quote Link to comment Share on other sites More sharing options...
Heidi Posted January 15, 2013 Share Posted January 15, 2013 If I carry cash I'm more likely to stop and buy fast food, especially if the kids aren't with me, because then it doesn't show up on the account and it is like i'm sneaking a special treat for myself. Cash doesn't work for me. If I know dh can count the number of times I go through a drive-through, I'm less likely to go. Best thing for me is to be in charge of the budget, make a financial goal to only spend X amount, write it all down, and stay home. Quote Link to comment Share on other sites More sharing options...
Halcyon Posted January 15, 2013 Share Posted January 15, 2013 I use EEBA on my phone and it really helps. Also, we have decided that any time we are UNDER a certain amt each month in terms of expenses, it will go towards savings. This is a big incentive for me (not so much my husband). Also, do some calculations and figure out how much money u will have at then end of the year if you DONT buy those little items. It can be a big incentive. Also, i second joining the low spend threads. They have been so helpful. Quote Link to comment Share on other sites More sharing options...
unsinkable Posted January 15, 2013 Share Posted January 15, 2013 A mental shift might help. Let's say you spend $6 a trip to fast food or Starbucks or where ever...or whatever amount. Instead of thinking it's only $6, multiply it out for a year. $6 x 3 days a week x 52= $936. I would be much less likely to spend $936 on a Starbucks or fast food trip. Does that make sense? Quote Link to comment Share on other sites More sharing options...
Garga Posted January 15, 2013 Share Posted January 15, 2013 Candle warmer. Plug it in. Put the glass jarred candle on it. The wax melts and releases the scent. When you turn it off, the wax hardens. You can use the same candle endlessly. I've used the same candle dozens of times and the scent has never diminished with each using. once you've bought a couple of scents, you never have to buy another candle again. Quote Link to comment Share on other sites More sharing options...
Alessandra Posted January 15, 2013 Share Posted January 15, 2013 A bit difficult, but effective -- write down everything you spend. And add it up. Easy & shocking -- multiply your purchase by 365 or 52 (whatever seems appropriate) to get yearly cost. Dream about what else you could buy for this amount. Quote Link to comment Share on other sites More sharing options...
SebastianCat Posted January 15, 2013 Share Posted January 15, 2013 I'm going to show him these ideas and see what we can come up with. I think having an allotted Amouny of "blow" money for myself - cash - would be good. Just out of curiosity - do any of you have a blow money fund for yourself? How much? Does it include fast food? We use cash envelopes, and we made it work for us and our budget. We have an envelope for eating out (enough for 1-2 times per month), Target/Walmart (which is primarily spent by me), Lowes/Home Depot (primarily spent by DH), and we each have our own "walking around" money. (We have other envelopes, for more mundane stuff like haircuts, babysitters, clothes, etc.) I have found that when I have a SMALL amount of cash with me (like $10-$20), I'm more careful about how I spend it. If you are going to be temped to use a credit card, leave it at home. When I plan a trip to Target, I bring enough cash with me to cover what I plan to buy - and almost never spend on impulse that way. We don't use cash for everything, but for the areas in which I am tempted to overspend, it helps a LOT. We only fill our envelopes once a month, and when the cash is gone, we stop spending. (That's when staying home helps!) But if I know that we are going out somewhere at the end of the month and I'll need cash for lunch, I'll set that aside with a sticky note saying, "lunch for Sea World" or something like that so I don't accidentally spend it earlier in the month. I have a long way to go and could definitely be more disciplined with my own spending, but I have come a long way since we switched to cash. I'd also recommend a Dave Ramsey course if you need more structured advice on budgeting and how/why to stick to it. Quote Link to comment Share on other sites More sharing options...
fairfarmhand Posted January 15, 2013 Share Posted January 15, 2013 Carry a drink with you. If you want sweet tea, buy yourself a big cup with a lid and a straw. Then you will have what you want. I had to switch to cash to change permanently. I can only buy what I have money for in my purse. Quote Link to comment Share on other sites More sharing options...
dm379 Posted January 15, 2013 Share Posted January 15, 2013 For the stop at the store impulse purchases, I keep snacks in the car. I drive around 200 miles a day so I spend a LOT of time in my car so it is real easy to stop by the drive thru. But I'm less likely if I've got something already there. Sometimes I will keep a cooler in the car too since I tend to stop and get drinks every day. Quote Link to comment Share on other sites More sharing options...
CandaceC Posted January 15, 2013 Author Share Posted January 15, 2013 Some of you totally get my dilemmas, thank you. Ha!! My husband is the saver, I am the spender. When I spend the day running the kids to piano and such, it's so easy to go through drive thrus. I wish it weren't so easy. :) I love the thought of multiplying my $6 for the whole year...yikes. And I have stopped going to Walmart!! Yay!! Part of our problem is we are in a tiny town and we have Walmart and 1 grocery store. So the grocery store is significantly more expensive. But we have found a new aldi about an hour from us, and we are trying to go once a month and stock up. We also started ordering from www.azurestandard.com and it is awesome!!! Yall should see if it delivers to your area.:) The great thing about having a hubby that desperately wants us on a budget is that he will gladly go to Walmart for me because he knows he will spend less than me!! :) Quote Link to comment Share on other sites More sharing options...
OH_Homeschooler Posted January 15, 2013 Share Posted January 15, 2013 I've been working on my impulse purchases lately too. When it comes to things like candles, yarn, and knick knacks I have just changed my point of view. Instead of thinking "I deserve this, and it's only $2" I stop to think about what I'd do with it. And as it turns out, I have tons of candles and yarn to use up, and in fact, buying more would just lead to more clutter. I deserve to live clutter-free too, don't I? So until I've used up all the yarn and candles I've already accumulated I will not buy more. And when I finally run out of these kinds of things, I will splurge on exactly what I want and only that. Although I feel like I know better, I still feel the need to buy stuff when it's on sale. Wow, shopping after the holidays was hard. There were so many candles on sale marked down. But I just stuck to my plan and decided I didn't need any candles right now. Similarly, I have so much yarn I accumulated because of good sales, but I never had a real plan for any of it. That has been okay, I was still learning how to crochet when I bought all that and so I wasn't making anything requiring good yarn. But now I'm still stuck with so much yarn that I will need to learn to use creatively. So I figure when I get to the point where I PLAN and SPLURGE, the expense may be more than I'm used to but it will be memorable. I won't be in denial about the cost because it's not buried in a receipt with 30 other things and it's "only $2." And I won't feel guilty about it either because at that point, it will be a true treat that I really deserved and I imagine it will actually be less costly. Quote Link to comment Share on other sites More sharing options...
Lady Florida. Posted January 15, 2013 Share Posted January 15, 2013 1. We stopped using credit cards. We kept one, but have not used it in many years. If you can't or don't want to stop, then at least leave them at home unless you know you'll need it. By knowing you'll need it, I mean you specifically plan to buy something and you know you will charge it. 2. We budget some discretionary money for each of us, and carry it in cash. If your financial situation allows, give yourself a small amount of cash for "stuff". My cash keeps me from feeling deprived, but knowing there's a finite amount makes me consider impulse buys more carefully. 3. As others said - snacks and water. If a hs activity (or anything for that matter) will have us on the road or out at lunchtime we do one of two things: either eat a late breakfast/early lunch, or pack lunch. I bring my water bottle everywhere I go. Sometimes I really crave a junky, sugary drink, and that's when I dip into my play money. For the most part though, I can talk myself into wanting my water. Quote Link to comment Share on other sites More sharing options...
Lady Florida. Posted January 15, 2013 Share Posted January 15, 2013 I would love to hear some practical ways to change my bad habits in the area of spending!! I don't spend a LOT, but it's those $2 candles at walmart, the drive thru for a $3 meal...those things I do WAY TOO MUCH. That's the stuff that adds up. I really didn't see how much I was spending on piddly things until I stopped. I was amazed! Quote Link to comment Share on other sites More sharing options...
Lady Florida. Posted January 15, 2013 Share Posted January 15, 2013 but taking sweet tea or a made-at-home iced coffee is cheaper than Starbucks/drive through This reminded me that there are times when I really want Starbucks, but the stuff I like there is so expensive. I got myself a Starbucks card, and each month I load it with about $15. That only gives me 3-4 drinks depending on what I get, but when it's gone it's gone. I still get my Starbucks fix but am not tempted every time I pass by or go to Target (our Target has one right inside the front door). Quote Link to comment Share on other sites More sharing options...
Guest Posted January 15, 2013 Share Posted January 15, 2013 For those impulse purchases at stores, stop and ask yourself if it is a need or a want. Then decide if this is how you want to spend your discretionary cash. Does this item enhance your life or hinder your goals. I would do this about 3.00 magazines, clothes in the clearance section, that really cute basket on clearance at Hobby Lobby, everything. If you are undecided, leave it there, don't put it in the cart and decide while you finish shopping, you won't. Sometimes you do need a candle, most of the time you don't. I also consider the long term impact of an item in my house. I love to decorate, but after years I've developed a nice cache of stuff. Most of it was not bought retail. I still find Target a big distraction. I often pass over some really cute stuff because it won't fit in my style and I know the "high" you get from buying will subside once you realize this item will be collecting dust in two weeks. :iagree: These are exactly my strategies, too. I also tote a filled water bottle everywhere, every day. No mindless shopping, either. I only go shopping when I have specific things I need to buy. Quote Link to comment Share on other sites More sharing options...
alisoncooks Posted January 15, 2013 Share Posted January 15, 2013 This thread is so timely for me! I've been guilty of loose spending (little things, like $1 McD's coffee, several time a week). Target and Walmart are dangerous places for me, too. I used to go to Target 1x a week, but I've cut it back to about 1x a month. I was surprised at how much I was spending there....EACH WEEK! :scared: We've done the Dave Ramsey thing/FPU but didn't stick with it. I also *hate* cooking & buying groceries, so we eat out A LOT. Big money drain. And homeschooling purchases has been....embarrassingly high this year. Definitely got my eyes on this thread! :) Quote Link to comment Share on other sites More sharing options...
Denise in IN Posted January 15, 2013 Share Posted January 15, 2013 One things that has helped me evaluate purchases in a different way is using a zero balance budget. With a zero balance budget, you can split up your total budgeted money however you want/need, but everything needs to be accounted for. This is different than the traditional budget where you have a certain amount for each category for the month. I have a set amount of money that goes into an account each month, and it needs to cover certain expenses. But with this way of budgeting, instead of thinking "I have only this amount to spend on groceries this month", I am thinking "spending more in one area means less for another area". And the opposite as well: "spending less in one area means more for another area". Obviously, some things are not negotiable. But in areas where I have some choices, this really helps me. It can be a challenge for me to spend less on groceries, for example, so that I have more for other things, like homeschool items, or saving for Christmas gifts. For me, this is really changing the way I look at the available money. Instead of thinking in "deprivation mode", I am thinking in "choices mode". It has also helped to be keeping track of everything we spend. I resisted doing this for a long time, b/c I thought it would suck up too much time. But not that I've got a simple system to use, it's really easy to keep up. It is a good reality check to see it all "down on paper" (or on the computer screen), and it's also helpful to see exactly how much total money I've spent for the month so far. Quote Link to comment Share on other sites More sharing options...
abacus2 Posted January 15, 2013 Share Posted January 15, 2013 I changed by: 1. Using cash envelopes for budgeting. 2. Not wandering around the mall/stores for entertainment. 3. Throwing away all catalogs immediately. Quote Link to comment Share on other sites More sharing options...
gingersmom Posted January 15, 2013 Share Posted January 15, 2013 Catalogs go from mailbox to garbage can, they never enter the house I have a 12 pack of soda and a case of bottled water in my trunk I have X amount of dollars for the week and when it's gone, it's gone, no backup plan makes you spend wisely Coupons!!! Seriously have been the best thing for my very tiny budget. Quote Link to comment Share on other sites More sharing options...
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