4 Tips To Stop impulse spending

 

1. Keep A list of Things You Need

Get a goal notebook. I find the standard black and white composition notebook works the best for this task. In this notebook, you’ll write a list of goals. Plan for a month. Write about how much you plan to realistically save and how much you plan to cut back on spending. Write how much income your bring home on a weekly basis and how much of that income is allocated to necessities like food and shelter and what you spend impulsively on.  You can even document how much you spent on a daily basis. This helps you keep aligned with your goals on a daily basis. The important thing to remember is to write down your goals because writing down your goals helps embeds them into your deeper mind thus creating a deeper commitment to fulfilling them.

2. Control Where You Shop

It’s much easier to buy impulsively as physical stores. It’s part of scentific marketing actually. Expert store designers/marketers will step up items so that you notice that they are on sale or arrange them in a way that would make you want to buy items you otherwise you didn’t come for the store for. The perfect illustration of this concept is the typical checkout line which is filled with boxes of candies and sodas. They are put that there so you can buy impulsively.  Impulse buying is best avoided by shopping an online stores.

3. Don’t Shop While Emotional

It’s life and sometimes we have stressful days and situations. Some people get an emotional relief and high through shopping. So in order to control those impulses we should avoid shopping and spending money when emotional. Instead develop another habit like taking a short walk, meditating, or drinking water when stressful

4. Put A freeze On Credit Cards. Use Cash Instead.

You may want to consider putting a freeze on all your credit cards to avoid unnecessary spending. When you use cash, you think more carefully about your purchases because it’s your own money you’re using. This technique helps strengthen your money management skills.

 

 

3 simple Steps to Wealth Building With No Money

Number 1 Wealth Building Tip: Learn a Skill or Trade.

 

Get a  skill. Yep that’s right the way you build wealth without money is by learning a skill or trade. When we think of wealth building the first thing we think of is investing in the stock or bond market, building a product based business or buying a house. The problem is that you need money to do all of those things. So how does one build wealth without having money? The answer is by learning a skill or trade. The practice of having a skillset is not new and the service and skill industries has been around since ancient times. You can build a skillset by just learning and practicing. Think of things like baking, sewing, marketing, woodworking,fixing phones, managing, coding, writing.  Think of a skillset you have or want to develop set a time aside each day to practice and get good at it. Your skillset should offer value to the world.

Wealth Building Tip Number 2: Sell Your SkillSet

Once you have your valuable skillset create an offer and a business and target people to market your service to. You can begin by marketing to your friends and family. If there isn’t an immediate need for your skillset or service within your inner circle than start congregating and marketing in places where your target market is. Create enticing offers and you should grow your business fast

 

Wealth Building Step number 2: Save and Invest

Invest and save 10 percent of whatever you make from your service business. Find monthly dividend stocks and set aside a percentage of your earnings to go there. You can invest in high yield savings accounts or you can participate in lending clubs.