How To Reduce Your Personal Spending
Photo of coins jumping out of a four-leaf clover design glass jar by Nataliya Vaitkevich on Pexels
Updated 2024.07.24. This post contains affiliate links and Useful Roots will be compensated if you make a purchase after clicking on these links.
How can I reduce my monthly spending?
You can reduce your spending by being mindful of your purchasing. Becoming more intentional, more mindful with your purchases, eliminating impulse buys, and getting your needs met for less all with a little self-reflection is possible.
By asking yourself a few questions before spending on anything, you can eliminate a lot of unnecessary spending. Before you spend time, energy, money or any combination of currency on it, just ask yourself about it.
To get started, below are twenty-two questions to ask yourself before buying anything new or refilling anything old.
You must be honest with yourself with your answers for this to work (this is where the self-reflection comes in). By giving yourself time to think about what you are spending for, you may come up with alternatives.
In other words, sometimes yes, just a little hemming and hawing over a purchase is exactly what is needed to reduce your expenses and thus your spending.
Without further ado reduce your spending and save money by asking yourself these questions ~
How To Reduce Your Personal Spending: 22 Questions To Ask Before Buying Anything text overlay photo of coins falling out of a four-leaf clover design glass jar by Nataliya Vaitkevich on Pexels
Will I be healthy and safe without this object?
Have I checked to see if this is the lowest possible price?
Do I have a coupon for it?
Can I wait until it goes on sale?
Is there a more affordable, comparable brand available?
Do I already have something that will work for this?
Can I wait one more day before I need to buy it?
*Imagine someone was standing at the front door with the object wanted in one hand and the stack of money it costs in the other. Which would I take?
Have I gone without similar items like this in the past?
Have I used up similar items I already have?
Does the one I have still work just fine?
Do I have enough in my bank account to buy this without feeling stressed?
Have I checked to see if I can get it for free, used or borrowed?
Is there a way that I can buy this that is cheaper than the present option?
Have I genuinely tried the do-it-yourself (DIY) option first?
Is this a want or need?
Can I create something like it with the raw materials I have on hand?
What would “the prudent me” advise?
All things the same, could I survive for the next week if I didn't have it in my possession?
Will I remember this item on my deathbed?
Can I pass this object onto a loved one who can turn it into cash when I die?
Is this item essential to perform at my job?
Photo of one hundred, twenty, five and single dollar bills by StockSnap from Pixabay
If you decide not to buy something after reading the questions above, thereby reducing your spending, put the item on a list of wins called “Things I Didn’t Buy The Moment I Wanted Them.”
Add each purchase you didn’t make onto this list and celebrate it as it grows. It is truly a list of times you discovered creative ways to meet your needs instead, becoming more resourceful in the process.
Every once and a while you may take something from that list and buy it after all and this is alright, as long as you’ve fully thought it through.
But most of the time, things on the list called “Things I Didn’t Buy The Moment I Wanted Them,” usually end up as water under the bridge and more money in your bank account.
These questions may assist you in reflecting on whether you even need to buy something or if you can use what you have, get it for less and perhaps do without the item but with more money in hand.
*If you choose to DIY instead of purchase, know your capabilities well and be honest with yourself about what you can handle.
Other Articles You May Enjoy:
As an Amazon Associate I earn from qualifying purchases. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates.
