Quick tip on how to STOP impulsive SPENDING

Consumerism is one of the biggest reason as to why people aren’t able to save, aside from inflation and rising costs. Instead of a culture where everyone is normalised to invest and save their money each pay-day, the norm is to ask each other “What are you getting for yourself on pay day?”. Plus, with Amazon and other companies now offering next day delivery, pressing that “buy now” button has never been so tempting.

Especially on pay day, after all the bills are paid and there is some money left over, you instantly look on what you can “afford” to purchase to have a short-lived “feel good” moment… only to forget about what you purchased a few weeks later. Then, it is another accumulated piece of trash waiting to be thrown out. Here’s how I have cut down on at least 90% of my usual spending habits.

I write down in “notes” on my phone, a list of what I want to buy. It is usually around 20–30 items full of things ranging from shoes, clothes, bags, utensils for the kitchen, everyday gadgets, etc. Every time I really want something, I add it to the very bottom of the list. After 3 months or so, I go back to it and I ask myself if I still want it. Almost 95% of the time, I no longer have any desire towards it or excitement and I find myself asking why I ever even wanted it.

What also makes this fun, is that when I write these items down in my notes, it also gives me the feeling of acquiring the item, in the sense that I am looking forward to the day of when I’ll be buying it. I say give it a try, it becomes addictive. You start writing down all these items that you desire, and you end up with a list of items that the majority of, you don’t even remember why you wanted them. Most of them even end up on discount, in case you end up buying them!

Please let me know if you do try it, and how it goes a week or two into your new saving habit.