9. Use Cash
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Leave all your cards at home. Take out what you plan on spending in cash. Now, you will be forced to only spend the amount of money you have in your wallet, plus think more carefully about what you buy.
Once the money is gone, you have to stop spending!
10. Use the envelope system
The envelope system is where you take out cash and divide it between several different categories. For example, groceries, gas for your vehicle, clothing, and entertainment all have a pre-determined amount you will spend for the month and each one has a separate envelope.
Put the cash into the envelope and freely spend, without guilt, until the money is gone. Now, you will have to wait until the next month to replenish the money.
11. Track your progress visually
Oh my goodness!! Was I ever wrong! I thought that tracking progress towards my money goals would never help me. Not only has visually tracking my progress given a rocket boost towards my motivation of working on my main money goal, but the tendency towards overspending almost vanished when I saw how I was making headway!
Track your progress with an excel spreadsheet, color in a picture, make a paper chain or write a blog post! It doesn’t matter how you decide to do it, just do it! (And see how much less you overspend!!!)
12. Consider getting rid of credit cards
It’s soooo easy to swipe your credit card and not realize how much you just overspent because it will be a month before you see the bill.
If by using credit cards, you are overspending way more than you would like, switch to using cash or your debit card instead. You will feel the purchase more when you pay by cash, and will be more aware of when it hurts to spend $____. No one likes pain and you will start keeping your spending in check.
However, if your credit card is enabling you to constantly overspend, maybe you should consider getting rid of it completely, so you don’t have the access to spend so much money.
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Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!