Thursday, August 18, 2011

How to stop spending money lonely?

Make yourself more accountable for your money. First of all, you need to track where it's going, down to the penny. Get a notebook or ledger, and start out by counting how much you have. Write down everything you spend, even if you give someone a nickel if they're a little short for the vending machine. At the end of the day, count all your change and money, and make sure the books balance. Be accountable for all of it. If you are in the habit of doing this--a lifelong habit, you will be less likely to spend foolishly. Seeing it in writing is a reminder of where it all went. Also, you can make a game of it, to see how much you can save. Set a goal for yourself. When you go shopping for something, comparison shop first--check prices at 3 different places. By that time, you will have had time to get over the compulsion to buy and decide whether it's something you really want.

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