Counting Pennies

How many times have you bought something on the spur of the moment, only to go home and regret it? How many of those times did you actually go back and return the item rather than letting it gather dust in the back of your closet? Not too many? You’re not alone.

If you find yourself wasting money on things you don’t really need, here are three tips to help you fight the urge to overspend.

1. Marcia Brixey, an expert with Money Wise Women Educational Services, suggests asking yourself some questions before opening your wallet: Do I really need this? Do I really want this? Will I use this? Am I buying this just because it’s on sale? Do I really love this? This handy list, which I love, can be downloaded for free on a business card size (to carry on your wallet) from the organization’s website at www.moneywisewomen.net.
2. Before you buy anything that costs more than $100, wait 24 hours. If you still want it the next day, go back and buy it. Most of the time, however, you’ll forget what it was by the next day.
3. Keep asking yourself how many hours you will need to work to pay for this particular item. This is a question that works particularly well for me. Once I calculate the cost, working 10 hours for a handbag I don’t really need seems a lot less appealing.

Trackback URI | Comments RSS