I recently took a long hard look at my spending habits. At the same time, I took a long hard look at the amount of stuff I own and have in my possession. It dawned on me that for one person that is half of a couple that live together that I had more than enough stuff, if not too much stuff. I also felt that I was spending way more money than what I should be.
It was then that I decided that for the remainder of the month if there was something I wanted to purchase I would write it down on a list of things I wanted and when the new month ticked over if I still needed it or wanted it I would then buy it. When it came to going through the list, there were a few items on the list that I had decided that I no longer needed, or realised that I had something similar already. In particular, I was going to buy an eyebrow brush to replace one that broke, turns out an old mascara wand works just as well and saves me around $10.
I should add that the list didn't include groceries or anything that was needed, such as the medicinal products I bought to help with my sinus infection.
Benefits I discovered of the list method:
- I was less responsive to the urge to purchase, which meant I could spend time searching online for the best deal, looking at how to maximise reward points and purchasing from Australian companies.
- I was able to identify products which I felt I needed to purchase to replace the old, when in fact I didn't need it at all as I didn't miss it.
- I no longer felt that my spending habits were out of control.
- I saved myself a lot of time and spent the time I would of shopping doing other things that made me happier.
- I was less stressed as I wasn't thinking about having to go to the shops or having to deal with the parking at the shops.
- I was more mindful of my spending and didn't have that bang of guilt that comes when you feel you may have overspent.
- I feel that I'm more mindful of the environmental and social impact of my purchases too, and as a result, look for responsible companies to buy from.
Because of the positive experience that I had last month using the list method for things I want, I'm doing the same this month. However, I did cave early in the month and made an impulsive purchase. Shortly after my online purchase arrived in the post, I realised I didn't need it, and I felt pretty bad about it. An online sale promoted via an email had enticed me to make the purchase, and now I'm considering whether to return the item or sell it to someone who does want it.
Have you tried something similar? What did you do and how did you find the process?
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