Just like most everyone else, I love a good sale.
And right now those after-Christmas sales lure us like a siren call. But I’ve learned the hard way that is doesn’t really matter how good the sale is, I still have to ask this question, “Do I need it or do I want it?”
If I want it, I have to think about what I’m spending, not what I’m saving. 50% off means I still have to pay the other 50%!
Of course, if I need it, I’m thrilled. Mark and I have worked on a spending plan and it sure helps when I’ve already planned to spend money and I’m able to save some of that money with a good sale!
But this year, I’ll resist the sale on winter clothes. It’s not in my plan.
And you know, honestly, having a plan feels even better than finding a good sale!
What about you? What strategies do you use to keep spending under control?
I have learned this the hard way to and I have to constantly remind myself that we don’t have very many needs and we have to review our wants. Many people look forward to tax returns, I am glad this will be the final year, or at least the beginning of the end of waiting for it to pay things off. Cash, cash, cash only please!! Thank you for giving me yet another reminder!
It sounds like you are on the right path, Ashley! Stay strong!
We use a debit card specificlly assigned to each budget line item. And we do not have overdraft protection on anyof them. So, with “Kids Clothes,” I have my set amount and that is it. And I know that I want to do amajority of my shopping for my kids at consignment sales that come up a few times a year, so I need to save that money. I have debit cards for groceries, my allowance, gas, etc. It works so well!
Stephanie,
This is a unique idea. So I’m curious, how many checking accounts do you manage?
We pay cash for everything we can – groceries, household supplies, rare trips out for dinner, etc. We have a set amount for each weekly trip and that’s all I take with me – that and a calculator. If it’s not on the list and we can’t afford it that week, we don’t get it. It works for us. Plus the kids see this habit and they are learning from it too.
Great strategy, Susan! And you are right…your kids are learning great money lessons just by watching you!
I pull out all the clothes (usually the week after I take down the Christmas decor) I have in the next size up for the kids, then I decide how many jeans, shirts, coats, shoes, I want for each size. I make a list of what I don’t have and keep it in my purse all the time. When I find a deal on something I make sure it’s on the “need” list before I buy it, if it’s not, I consider buying it as a gift possibly, and often I say a prayer and ask God to help me make good decisions with the money he’s given me. 🙂
Oooooo…good idea!
What a great idea! I have bought things on sale for the next year, only to find that I had already bought the exact same pair and colour sometime earlier. Thanks for the tip.
Well living in Michigan the last several years and owning two small businesses has taught our family some good but tough lessons. By the Grace of God our businesses are still open while we have had to watch others close and it’s been heartbreaking. I use cash for every purchase, coupons for all my groceries, we don’t have cable, shop at thrift stores and if we eat out it’s just me and my husband for our date nights. However on rare occasions we do get to take a few of our five kids. On our date nights we usually share a meal so it reduces the cost and keeps us from over eating (tee hee). We are fine and happy so I think even when things are better financially we won’t change much if anything.
Paige,
Mark and I always share a meal on the rare occasion that we eat out. Honestly there’s always enough food for both of us!
We’re on a really tight budget (there’s just two of us) and we each get a monthly “allowance” that we can use to buy what we want. Before we merged our finances, I didn’t care much about what I bought. Then suddenly, I had to be accountable to someone other than myself. It was a total eye-opener. Now that I just have a small allowance, I’ve had to become choosy about what I buy. No more getting something just because it’s on sale. And I definitely weight the wants vs. the need pretty much whenever I have to buy something now. I think everyone, whether they share finances with someone else should be doing that. I wish I had started earlier!
Accountability is a good thing, Trish!
We own our own business and it has really taught us to make sure bills are paid before we go out and spend the money on wants. We carefully consider if we really need things before we purchase them. Clothing, food, shelter those get taken care of first then we see what we have left. With three kiddos it helps to have a budget and to stay on it.
We have no money so there is nothing left to worry about spending on sales. lol. I was out of work for about 3 months this summer so we got very used to not spending money. I am now a long-term substitute teacher and am not making much at all so there literally isn’t anything left for superfluous spending. So that is my strategy. No money=no spending. 🙂
Hey, it works!
We’ve never had alot of money through the almost 40 years of marriage. First it was making sure we could pay our monthly bills and make sure our 3 daughters had essentials, then saving for retirement. We always lived on one income too!
We paid off our house so that we had no payments when he retired. Never got to retire, Brain Cancer is taking it’s share of our money now!