Use this trick to stop yourself from overspending

Use this trick to stop yourself from overspending
Many Singapore millennials do have financial habits that might, decades later, be viewed as a form of self-sabotage.
PHOTO: The Straits Times

Saving money during the festive season isn't always easy. After all, Christmas is the time of giving. However, it's not impossible to save. Here are some psychological tricks you can do to prevent yourself from overspending.

1. Surround yourself with people who make you feel good

If there's one thing you need to know about the advertising industry, it's this: when it comes to spurring you on to buy certain products, the advertising industry tries their best to appeal to your emotions in order to motivate you on to buy their products.

So, instead of falling for their marketing fodder, surround yourself with the people you love and make yourself feel good.

2. Don't buy anything on impulse

Ever heard of the saying, "A fool and his money are soon parted"?

The proverb was derived from a scenario that poet Thomas Tusser observed about a man who didn't quite think twice about parting with his money.

3. Consider renting

According to financial planner Adele Martin, renting a dress or a bag for a special occasion could actually save you even more money. After all, how often will you be wearing that sequin dress?

4. Alternatively, sell items you don't need

And when it comes to clothes, Adele suggest having a good wardrobe cull; selling unused items clothes on eBay or Carousell can give you extra cash to go shopping with.

5. Remind yourself of the things you have

We don't know about you but every time we look at our closet and organise it, we realise just how many items of clothing we have and it prevents us from wanting to go shop even more.

This article was first published in The Singapore Women's Weekly

Purchase this article for republication.



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