You’ll see that I have come really far; I believe in myself and I have the right attitude to take me even further against a backdrop of overspending. I know that I am not all alone in this, as a mere search through the internet will reveal that many are those who have found themselves trapped in a whirlwind of spending. It happens due to self-esteem issues and other conditions as those who have researched about it tell us. I was a spend-thrift and therefore when I start talking about my journey, I can go on and on and before long, I have filled the entire space with information.
Luckily, I have been able to overcome the vice though I would not say that I have reached the pinnacle. It’s a learning experience and every day opens a new chapter.
As I search for available information and seek to understand the whole phenomenon better, while still doing a personal evaluation, I have come to realize that it’s all about behaviour. That’s why, I have decided to set on a journey to change my behaviour which eventually improved my finances as I write forth. You too can do it and I will show you how.
Save On Membership – Use Networks
Why to split membership between similar websites when you can have all-in-one access. I will use example of MYLF Network as the perfect one. Imagine, this website features 7 sub-series and you could spend as much as 7x for the very same video content that you get with single membership to MYLF. Of course the acronym might be familiar to you – after all, MILFs became so mainstream after American Pie series that beautiful ladies don’t shock anymore with their sexuality. MYLF is just a continuation of a trend with slightly different approach to how showcase these moms. Check it out 🙂
Examine Your Habits And Work Towards Dropping The Old Ones
When you look at the way you behave, you’ll see that there’s something within you that triggers or drives you to spend. When we do something over and over again, it becomes a habit and like the old saying goes “a habit is a disease”. We are hooked, and we can’t let go of the habit anymore.
Take time to understand your habits and how they connect to your shopping. If shopping is that one activity that makes you feel happy, now is the time to drop that habit and pick another one. It might not be easy to begin with, but with a strong willpower, you will be able to do it. Substitute this activity with another physical activity like exercising, I recommend this since it worked for me. The chemicals released in the brain as you exercise makes you feel happy. Start exercising when you feel low and before long, you now have a better habit to replace shopping.
Make It Difficult To Fall Into Temptation
Among the other things I made was to make sure that I don’t access my finances as easily as I could, so that by the time I can access the money, the urge to spend is gone. I have found that even some financial advisors suggest that you freeze your credit card in ice or you keep your emergency fund in an investment account that’s not easily accessible.
The good thing about this is that, 36 hours later you’ll be in a different mood. And what you could have rushed into buying, by now you no longer want. This delay causes your mood to change and gives you time to re-evaluate your decision.
So, the more you make it difficult to fall into temptation, the more successful you become, and you can beat it.
Be Open To Good Financial Habits
I looked at myself and asked one bold question, do I block good financial behaviours in my life? And it’s true, I was blocking them, and I need to do something. The idea here is that, you need to evaluate your risk and reward trade-offs. You need to search for various investment options around and have yourself enrolled in one that you are most comfortable with. And there’s a lot of information on the internet to help you out, you can even talk to a personal investment advisor to help you out.
While at it, you’ll meet with others and as you network and create ties with other persons, you’ll feel challenged and would want to continue. By the time you know it, good financial habits have started to take root and you no longer find yourself attracted to spending.
Difference Between Investment And Expenses
I used to justify my spending for an investment, for example, I bought this new microwave because I heard that it’s energy efficient and stuff like that. Sometimes people go out and incur hefty bills for expensive weddings saying that they are investing in their marriage. As a rule of thumb, an investment makes you acquire an asset whose value is anticipated to increase over time. I am not telling you not to spend money if you have it, but I want to insist that it doesn’t help to keep on justifying your spending for an investment, which we sometimes find ourselves doing.