Hello. Good morning ladies. How are y'all doing?? Its been a while. I'm excited to write on this platform. Thank you so much @ladiesofhive
So we are asked to share the tactics and strategies we take to stay on track and stop us from unnecessary spending.
First of all why do we budget for spending. Budgeting for our spending is very important because it helps us stay on track with our financial goals and avoid overspending. Without a budget, it's very easy for one to get carried away with unplanned spending or let me just spoil myself small moments, which can add up over time.
By setting a budget for our spending, we can make sure that our money is going towards the right things, things that really matter to us, rather than being wasted on things we don't need but want. Budgeting just help us prioritize our spending and also make the most of our money. Having a budget also gives us a sense of control over our finances, which can help us reduce some stress and also anxiety.
I'll be listing the strategies and measures I take to reduce unnecessary spending.
- Even before the money comes I make sure I have everything planned out. I make a specific plan for the money even before I go shopping or do other things and I make sure I stick to it.
I make sure no matter how tight it becomes or how bad i might want something, I just set a spending limit for myself, though it might be hard at first but it's good to learn how to adjust to it and then stick to it.
Another vey important thing I do is to make sure I avoid shopping or making a budget when I'm emotionally exhausted or stressed, this might make me spend what I did not plan. It can lead to what is called impulsive spending.
- Lastly, i put myself in a position to focus on my long-term financial goals for example me living in the house of my dreams, having enough money saved up, driving my dream car,etc. And then I try to visualize them , that is I picture or create a kind of mental image of the goals and the benefits of achieving this. Doing this will help me realize that unnecessarily spending can derail my plans and it puts me in check.
Thank you for stopping by
Feel free to reblog, upvote and don't forget to drop a comment.
Best regards ❤️
@imaima