19 December 2015

3 Ways to Resist Overspending

Holy cow!!! That is the expression that folks have when they first start making the big bucks. Right on the heels of that remark is the urge to purchase the next new shiny object. It could be a bigger house or car. It could be the latest toy. That urge to rush out and spend is strong in folks who are new to making good money. Here are three tips that I find worked for me. 

1. Stop Self-Sabotaging. Running out and purchasing the latest model 4 wheeler or that 70,000.00 truck isn't going to get you where you need to be. It's actually going to take you away from your goal. Recognize the urge for the villain it is. I am, of course, assuming that you have goals.

2. Phone a Friend: Have an accountability partner. Give them a ring. Tell them what you're planning to do. If you find yourself not wanting to share - listen to your inner voice. Are you reluctant to tell because you know it's a bad choice?

3. Turn on the Delay Switch: That's right. The delay - the space between the emotional urge to spend and the decision to spend. Promise yourself you won't buy anything for 30 days after you get the means to do so. You may change your mind in that time period. 

You don't need to reinvent the wheel. You're not the first person to experience the joy and pain of the boom and bust. 

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