Do you often find yourself guilty of spending recklessly the way you don’t like? Most times, immediately you have money, then the urge to spend it on things you find glamorous and pleasurable creeps in. You aren’t alone. The feeling is normal for many persons. However, this doesn’t justify your action of spending above your income or spending recklessly..
The main reason why some persons tend to spend this way is because they are controlled by emotions and impulse rather than their brain. What do I mean by this? For example, you are broke, however, the moment you have, say, ten thousand naira (#10,000), suddenly, there is this urge to either spend it on food, airtime, go outing/shopping, take your spouse out, or some other things you know quite well aren’t necessarily relevant at that particular time creeps in. if you are unable to sit yourself down or calm that urge, then you are being controlled by emotions and impulse. How do you know this is emotion and not necessity? It is simple—you immediately become guilty, dejected and penniless after spending the cash. However, if you are able to calm yourself when the urge creeps in, and list out your priorities, you find out that you will be able to keep track of how the cash was/is being spent/what it is being spent on and that feeling of guilt wouldn’t set in after your priorities are meant.
Having said this, if you are the type who spends more than you earn and have always wanted to save and make meanings out of your earnings, follow the tips below and you will have a full command over your pocket.
1. Think before you spend
As earlier said, spending before thinking clearly shows you are controlled by impulse/emotions rather than your brain. The best way to beat this habit is to wait, calm yourself immediately you earn or have a little cash on you.
2. Avoid Credit Card if Possible
Practically, this is not possible considering how far civilization has hit our society/the world at large—the advent of POS and ATMs. Most times, credit cards are for convenience, however, they have their side effects. The moment you are with your credit card (and it’s fully funded), there is this feeling of not looking back or thinking twice before spending huge amount on things. This is because you may feel the cash is at your beck and call and you can simply purchase whatever you want without fear of going penniless.
If you can’t do away with credit cards, then avoid taking them out with you when going to certain places you know call for spending. Before going out, take some cash you know it’s your budget and do your best never to exceed the spending.
3. Have a Daily/Weekly/Monthly Budget.
The advantage of setting budget limit is to enable your curb the habit of spending on things that are not relevant. Having no budget is like you saying “I want to build a house but I don’t have a pattern.” Definitely, you will end up building a house you might not like in the long run.
4. Be Responsible
Responsibility here means knowing who you are and what you want. If you have a family (wife and kids) or those beneath you (siblings) you fend for, you will know the importance of spending less and saving more. This can save you from embarrassment in the hands of your family or younger ones.
There is an adage “Heaven helps those who help themselves.” If after exhausting the above tips and you still find yourself spending recklessly, resort to prayer and seek guidance from God. Above all, be discipline and set principles for yourself!
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