A lot of us says money isn’t important but little did we realize that finances can make or break even the strongest of relationships. Crunched budgets created from rising prices and stagnant wages can extract a heavy toll on couples that are struggling to make ends meet. If you find that your income trickles in while the money flows out to bills and debt obligations, something has to change before you get drown in the dark and muddy waters of debt.
While there are countless resources out there to help you track your spending, find incredible savings with coupons or to consolidate debt, nothing will ever really change your financial future until you take steps to change your spending habits. Like changing any other habits, it can feel like a daunting task. But it can be done, and it can change your life.
When you find that you need to vanquish debt and change your spending habits, look to the practice of mindfulness. If it can help you deal with stress and make you more aware of the world around you, it can help you achieve financial freedom. The practice of mindfulness is aimed at making you more aware of the present moment, and in this case more aware of your spending habits in the present moment.
Between one-click online shopping, free two-day shipping and debit cards, it’s easier now than ever before to spend money without having cold hard cash in your hand. This leads us to spending money quickly, without always thinking about it or fully realizing that we are indeed spending money, just like cash. In fact, research has shown that we spend less and are more cautious with our purchases when using cash in hand, as it forces us to realize that we are parting with our hard-earned dollars and cents.
Decrease Spending by Increasing Mindfulness
When you pay with cash, you can only buy something if the money is actually right there in your hand at that exact moment. This may help you avoid racking up charges that surprise you on next month’s credit card bill.
Slow Down the Shopping
Remove yourself from anything that makes it easy and convenient to shop. Unsubscribe from one-click ordering, or log out of your account and order as a guest so that you have to fill out your shipping and billing information each and every time you want to place an order. This will help you slow down the shopping and give you time to reevaluate your purchase.
Visualize the Future
Before you buy, take a few deep breaths and visualize the future with the item you are about to purchase. Where will you keep it in your house? How will you use it? Will you use it often? Do you already have something serving its intended purpose in the home? Taking a minute to visualize the future with your purchase will help you determine if you are buying out of need or emotion.
At its heart, mindless spending is a simple trap to fall into and is very often used to create a rush of feel-good emotions that we might otherwise find lacking. With thought and consideration, you can change your spending habits in order to achieve financial freedom from stressful debt.