How do you resist the temptation to buy things?

Question

Does anyone else have trouble saving money? I get so embarrased about my low bank account when all of my friends are good with money and I am scared to tell anyone that I can't stop buying things. I would rather shop, or buy coffee even, by myself.

Answer 1

OK, let's say you make $25,000 a year, and you buy a latte at Starbucks every day for $3, just on workdays. That's $3 x 5 days = $15, x 50 weeks a year = $750. So, which would feel better, one cup of expensive coffee a day, or a $750 week-long vacation once a year? Because that's the tradeoff you're making. You're buying lots of little things to feel good for a couple of minutes, but you're losing the opportunity to buy something big and important. Oh, and that $3 cup of coffee = 3% of your entire income!!!! So, instead, you make a list of what you would really like for your money, and you start practicing NOT buying things. When you want a CD, you say, "CD now? Or vacation later?" Picture yourself telling your friends about your vacation, or going back to school, or buying a house. Also, if your friends are good with money, ask them for hints and tricks. If you really can't stop, try going to a DA meeting, for Debtors Anonymous. They'll give you a sponsor, someone to call when you want to buy something. It really works!

Answer 2

You are not alone, the majority of people (if yahoo answers is any indication) does not manage money well. If everyone did, all those auto title loan places would disappear along with the payday loans and other related business.

I measure what I buy based on the cost, hours spent enjoying or using it, and how useful or how much I really need it. The one exception is food.

For example, if I make $10 an hour.......

I can justify buying a DVD for $10 because I will spend over an hour watching it. And so I've used more time enjoying it than it took me to earn the money.

I would not spend a thousand dollars on a big screen tv because I simply do not need that large of a tv.

It sounds like since you like shopping, you are buying things for pleasure rather than use or need. Maybe you should stick to the dollar store where you can at least save some shopping.

Answer 3

The best solution is to save, invest and watch your money grow. Once you see small savings becoming over time profits you will.... like most people wish you had done it sooner.

Answer 4

i say when u see somethin u want, think about it and if u think u still want it, put it on hold for a day so u can sleep on it, i read somewhere that when most people put somethin they think they want on hold and "sleep" on it that the next day they feel as though they dont need it