You have created a written budget but you see a post of a dress or bag you admire from one of your favorite vendors while scrolling through Instagram, and you buy it. You see more things you want to rock on other days too and would not be able to fight the temptation of getting them. It’s two weeks to salary week, you’ve spent past your budget and you’re totally broke. How do you cope without breaking your piggy bank?
To avoid this, you need to pay attention to where and how often you swipe your credit or debit card and then make the decision to stop. Making and sticking to a budget does not stop you from having fun, eating at a fancy restaurant, or going to see a movie. It’s basically about you making an action plan and staying by it.
However, to get started with sticking to your budget, here are some tips!
- STICK TO A LOWER DEBIT CARD LIMIT
If you really want to trim how you spend money, you might need to reduce your transfer limit or a lower debit card limit. Once you do this, you would be able to control spending ridiculous amounts on frivolous items.
- TRY A SPENDING FREEZE
You can do a “no spend” challenge for a week or even a month. You would have to stay committed to not spending money on anything that is not essential for that period. It might seem hard but it is a very effective way to curb your bad spending habits. Get creative with this and make it fun by challenging your best friends or family and see who can save the most.
After a while, you can keep the money you have conserved inside your TRJ account and watch it grow.
- GO MINIMAL
It has been a growing trend in these recent years to identify your needs and wants and reduce the wants while you stick with the necessities. This will reduce your bad spending habits and make it easier for you to be on track. Look at cheaper substitutes of the things you spend on and cut them off. Do you need to subscribe to both Apple Music and Spotify if they serve the same purpose? Get rid of these needless bills today!
- STICK TO YOUR SHOPPING LIST
You might want to be adventurous while shopping for groceries or other things. If you want to stick to a budget, now is not the time to explore. Avoid spending temptations by compiling your shopping list based on an overview of what you need and STICK to it.
- NEVER SPEND MORE THAN WHAT YOU HAVE
If you cannot afford something you want, put it off and save for it for a while. Getting into debts can be tough because you might end up borrowing more money or struggling and depriving yourself of a lot of things to settle those debts.