There is one critical mistake I see a lot of people making when they shop for food or clothes or anything at all, really. If you can correct this one habit, you will be left with a lot more money at the end of each month without actually missing out on anything. Here is the deal: STOP emotionally spending money.
Chances are you have heard about the pitfall of emotional spending before. The thing is that a lot of people who have heard about this still fall prey to it. Numerous studies have shown, for example, how people will buy WAY more groceries when they go shopping while they are hungry. This is a prime example of emotional spending, and it is also one that can easily be avoided. Other people will go shopping with the intention of buying one pair of sneakers and will leave the store with three pair, a new jacket, two shirts, 10 candles and a yacht.
On a more serious note, emotional spending is something you can easily avoid. How? Simple. By bringing awareness to the problem. Next time you find yourself shopping for groceries when you are really hungry, you can bring your awareness to the fact that you want to eat right NOW, but that does not mean you will eat all of the stuff you are picking up at the supermarket. By buying food, you do not still your hunger. So next time you find yourself shopping for groceries, ask yourself if you really need that extra box of chocolates, or if you are just having a sugar craving right that moment. Be honest with yourself and try to only buy the (healthy) foods you usually would. I can assure you this will make a big difference in your spendings at the end of each month. Another positive side effect of this is that you will be less likely to pick up unhealthy foods that are high in sugar and fat if you can control your emotional cravings.
“By buying food, you do not still your hunger.”
A tip that goes hand in hand with not giving in to emotionally spending money is avoiding instant gratification. We all love quick and instant fixes that will solve all of our problems in life by pressing a magic button -that’s why pyramid schemes are so popular- but the truth is that when we want true positive changes in our lives, we usually have to put in hard and smart work. That’s why I want you to take a good, in-depth look at the money that goes out. What is it you spend too much money on, what stuff do you buy that you don’t actually need? Now I am not saying that you should never buy nice things for yourself and that you should become stingy with your money. The truth is that your money should be in constant flow, coming in and going back out. That’s what an abundance mindset is all about. You simply have to make sure that more money is coming in rather than going out. Spending your money based on thought-through decisions instead of based on emotional cravings is a good first step to achieve that outcome.
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