Stop uneccessary spending
I have a really simple method to keeping impulse purchases at bay that I want to share with you. It is basic common sense but sometimes that evades us doesn’t it? All you really have to remember is the word
S is for stopping
T is for thinking
O is for options
P is for Proceeding
Let me give you a typical scenario:
The other ante natal mums are arranging to go out for a meal with lots of wine. Everyone is giddy about it, its been ages since you all got to go out. But you have lots of money worries and know you can’t afford it. Jodie is asking everyone for their deposit. ‘Just a fiver,’ she says. You have a fiver in your pocket, everyone else seems to be handing over the money. What are you going to do…….?
Well firstly you ought to STOP, you need to pause and think and it’s hard when you are in a situation where everyone else is just going along with the plan. You could STOP things by
nipping to the loo for a 5 minute breather or
saying ‘let me get back to you later today Jodie, I have a few things to work out.’
Both these options will buy you time to THINK.
When you THINK you need to think with a clear head about what is right for you and your family and that’s why you need space to think.. You may think ….debt is hard to get out of and makes everyone sad and worried – it is certainly not worth going along with the crowd to get into debt. Or you may think you haven’t been out for ages it would be a great thing to spend your money on and you will just put back your hair do you had booked for another 4 weeks instead. Whatever you think it is better to think than simply to react on impulse.
Being able to think helps you see your OPTIONS. One option may be missing the meal but organising a meal at yours the next month where everyone brings a dish and no one is out of pocket.
Once you have STOPPED, THOUGHT and explored your OPTIONS then it is smart and wise to PROCEED with your decision.
So Jodie is collecting in the money she’s getting near to you. Just popping to the bathroom you say. Once there you think your options through and decide money on a meal and wine just isn’t feasible now.
So you tell Jodie (who does not need all your financial details) that you can’t make that night out but are planning a lucky dip meal at yours next moth so look forward to catching up with everyone then. Then leave so no one can nag you to change your mind.
See that wasn’t so hard was it !
Give your self time and space to think things through and generally you will make much better decisions.
P.S If you are on the phone and being rushed into something try saying you think there may be someone at the door you’ll call back later – always works a treat.
This is my entry for the BritMums Piggy Bank Tales competition, sponsored by Virgin Money.
Can you stop unneccesary spending today?