(MotivateDaily.com) – You might be spending a lot more time at home these days, but one thing you shouldn’t be doing is spending all your hard-earned cash. While retail therapy is great for getting over the occasional slump or bad day, it shouldn’t be used as a crutch to get you through troubled times. Here are some suggestions on how you can avoid spending triggers.
Get Rid of Shopping Apps
There are a lot of great spending apps out there. Rakuten and BuyVia are just two, although most retailers have apps that will send you sneak-peaks and coupons on a daily or weekly basis. And while saving money is always good, it can also be an enabling tool when it comes to retail therapy. Disable alerts so you won’t be tempted to buy items frivolously.
Monitor Your Spending
There are also apps that can be beneficial to your financial lifestyle. This includes platforms like Mint and Wally. Both help track how much you spend and show exactly where your money goes. This gives you a chance to reflect on your spending and really focus on what changes you need to make when it comes to overspending.
Know Your Triggers
Do you have spending triggers? Maybe you have a hard time resisting daily email newsletters from your favorite store or trouble turning away when you see updates from Instagram favorites. Avoid what leads to an impulse buy in the first place. Put these triggers on hold to block the temptation.
Implement a 48-Hour Rule
Online retail therapy can get out of control when you can fill up your cart and hit the order button in seconds. Instead of being spontaneous, implement a 48-hour rule. Write down what you want to order. Wait 48-hours. Take a step back to re-determine if you really need those items or not.
Have a Support Person in Place
Spending money on clothes or shoes can happen on impulse. This money can dip into your bills, forcing you to extend credit lines or be late on certain payments. That’s the last thing you want to do because it can result in a lower FICO score, putting your financial future at risk.
Instead, have a support person in place, someone who will talk you out of making a poor financial choice. You don’t really need those $200 shoes, do you? Choose someone who will be understanding and help guide you in the right direction. If you need to, don’t be afraid to reach out for professional help.
Whether it’s online or at the store, swiping your card can be an easy fix for underlying emotional issues. Getting a clearer picture of your buying habits is sometimes all it takes to avoid using shopping as a form of therapy. With the help of a few tools, you can gain perspective and get control over spending habits for good!
~Here’s to Your Success!
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