How to curb the craving to spend

Sometimes it can be difficult to overcome the urge to spend. Here are some ways that will help deter you from the department stores and keep your wallet happy.

Stick to a list

Whenever you get that itch to spend, try reaching for a pen and paper instead of your wallet. A good old-fashioned shopping list is a simple way to prioritize your wants versus your needs. Similar to your grocery list, write down anything that you need to buy – such as birthday gifts, new shoes, household appliances, etc. Once you can visualize all these items, you can weigh the prices and prioritize the urgency of each purchase.

Wait

This is a hard concept to grasp for some impulse buyers. Oftentimes we are lured in with “Last Chance!” and “One-Day Clearance!” sale schemes that makes us want to swipe our cards before it’s too late. This spending pattern often results in overbuying since we justify the price drops. Similar to the first tip, you should try to only buy what you really need – not just what’s on sale. Even if it’s a great sale, you will be saving more money by not buying anything. Shopping during clearance events is a great way to save money but sometimes it’s better to wait.

Watch your savings grow

When your next direct deposit comes in, you have a choice to either spend it or save it. Get into the habit of paying a percentage of your paycheck into your savings account. By treating yourself like a bill, you’ll be growing your savings each payday. It’s okay to start small, as long as you are consistent and committed to saving for a better tomorrow.

At Travis Credit Union, we are committed to helping people live better and give better. As part of our Crave 2 Save initiative, we’re encouraging our communities to curb the craving to spend and to start saving for a better tomorrow. Come join us! Visit www.traviscu.org/crave2save to learn more.

Crave 2 Save