If you are reading this blog post you probably know that the key to winning with money is to spend less than you make.
Or in other words, you should have more coming in than you have going out.
But what you may not be aware of is the 3 creative ways we at A Step Above Style have found that actually work incredibly well.
Want to see them? Just continue reading.
Let’s begin.
1. Create a List of Pros & Cons
A Pros and Cons list is simply something that clearly lays out all that is good about a certain topic as well as what is bad about it.
Below let’s create one for a Playstation 5.
Pros
- Entertainment
- Game night with friends
- Watch various forms of media on it
Cons
- Will need to purchase games to enjoy it
- Will need to purchase enough controlled for me and my friends
- May want a gaming chair
- May want headphones
- Need wifi
- If it breaks, repair can be expensive
Pros & Cons lists aren’t all about which one has more items in it’s category, but which Pros mean more to you as opposed to the Cons.
One really bad Con may totally turn you off from the idea of buying said item. One really good Pro on the other hand may seal the deal.
In any case, just remember to do your research and take your time with large purchases.
My main take away from the above list is that buying a PS5 is expensive, but it also requires several additional purchases to really get the most out of it.
2. Perform A Digital Clean Up
The second way to spend less than what you make is to utilize digital minimalism.
This helps you by making it harder to make spur of the moment purchases.
Lets take shopping on Amazon for example. Rather than utilizing the “One click purchase” feature on their app, you delete the app all together.
Next you make the decision to only make purchases from their actual website, and only after 48 hours of waiting.
The above is just one way to set up “road blocks” in your spending habits. Below are a few more:
- Unsubscribe from retailer emails
- Delete Shopping Apps
- Clear out browser (i.e. saved debit/credit card information)
- Install Ad Blocker
3. Recognize That Spending Money Can Become A “Hobby”
The third tip is actually a observation.
As a citizen of one of the wealthiest countries in the world it’s easy for Americans to get caught up in “the good life”.
Casual shopping can quickly become the norm and a hobby when we are consistently inundated with advertisements on every corner.
Saturday’s plans can include :
- Breakfast from McDonald’s
- Starbucks to go
- Shopping at your favorite store
- Lunch/dinner with friends
- Ice cream for desert
While the above may sound like a good time, it can easily lead you down a path of living paycheck to paycheck.
Recognize that spending money is only fun for the moment, and that true financial success can last you a lifetime.
Conclusion
With all that said we hope you have found today’s blog post insightful and helpful.
Until next time, yall have a good one.
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