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How to Control Your Spending Habits

When it comes to personal finance, money managing, budgeting are probably the most difficult things. Control your own money is not an easy task and many people find it's very difficult to be good at it. I'd like to share some of my personal experiences on this topic. Hopefully this will help other people as well!

Wisely managing my spending requires the same self-control I have in other aspects of my life.

I anticipate days when making ends meet may be harder than usual. It is these days that give me the drive to maintain control of my spending habits and I make it a point to save for rainy days.

How I spend is a reflection of my character. I am honest with myself, so I am honest about what I can afford. I live a worry-free life, so I ensure that my spending habits keep me from having to worry about putting meals on my table.

I commit to spending wisely and thoughtfully.

Sometimes, impulse purchasing is a real challenge as I feel the urge to give in to my desire to spend. But I take a moment to look at the bigger picture.

I consider what the outcome could be if I make the purchase and refrain from buying the item if there is any possible sign of hardship to come from doing so.

Today, I vow to work hard to control my spending habits. I know that financial situations sometimes arise which alter my plans, but I commit to handling them as best as I can.

Self-Reflection Questions:

  1. How do I feel when a loved one asks me to purchase something for their pleasure that I know I cannot afford?
  2. Do I spend the time to teach my kids how to save?
  3. How do I recover after allowing myself to make an impulse purchase?