How can I manage my spending?!!!!!!!!!!!!!!!!!!!?

Question

Okay, I do not have any debts but I realize that any time I get paid it only last me until the next day because I go shopping. I really try not to but I live in NYC and here there are stores everywhere. I realize I may have a problem when I just spent $300 on......socks. yeah i said socks. How can i mange my money better before I start getting in debt?

Answer 1

create a budget for yourself.
taste a good look in your closet.
bank most of your paycheck, put some in savings, give yourself an allowance.
do not shop the day you get paid! you sound like an impulse buyer....at least you won't need socks for awhile. right?!

Answer 2

Make a budget. Put 10% away in a savings account. Burn the withdrawal slips.

Put the money that goes towards groceries, clothes, going out for drinks, and other items you can pay for in cash into a small expanding file or envelopes. Divide the money up weekly (per occurrence you've budgeted). Keep your checkbook balanced and subtract these items from your running balance before you've spent them, because they're already in the envelopes. Leave the checkbook, debit card, and credit cards at home when you go out shopping with the cash in the envelopes so you won't be tempted to spend more.

Cut up the debit card and write checks. This will take time and cause you to stop and think about the amount you're actually spending.

Sign up for automated payments for rent, utilities, etc. wherever you can and subtract this from the running balance in your checkbook at the time you get paid, too.

Finally, if you're having a real problem with spending too much money on shopping, you might be suffering from depression. Work a therapist into your budget and get to the root of the problem.

Hope this helps!

Answer 3

Do what I do....the moment you get paid....take out a sum of money and stash them away before you start your mad shopping spree. Make sure you keep the savings in a piggy bank that you have difficulty opening/unlocking to prevent yourself from taking out the savings.

Another thing that I do is I withdraw a fixed amount of money for spending for one week. Of course, I drafted out a weekly budget before I withdraw my money weekly. Stick to that budget.

One last method of saving is to put the weekly remaining money (if there's any left) to your piggy bank. Even an extra penny or dollar counts.

Answer 4

If you spend $300 on socks, you're an idiot. Keep spending like that and you won't have a pot to piss in.
Don't buy ANYTHING you don't NEED until you have at least a months worth of extra money- then keep it for emergencies.

Answer 5

Go to the Indian Restaurants on E. 6th St. instead. They are way cheaper than socks.

Answer 6

Only allow yourself so much money a week to buy clothes and other things that may not necessary, put the rest into a savings account. I am definitely one to spend alot on things I don't need and I finally realized that I was only making it harder on myself when I needed money for something that was necessary. SAVE SAVE SAVE.

Answer 7

try making a budget or putting your money in cash into envelopes allowing so much per week for shopping for clothes. When that envelope is empty, you are done for the week.

Answer 8

Buy a book or take a course by Dave Ramsey.

Answer 9

You're going to have to exert some self-disipline and stay out of the stores.

Answer 10

pay yourself first.

make a monthly budget, setting aside monies for certain obligations.