How do I resist the urge to spend money on things I don't need?

Question

I work long hours and earn a really fantastic salary, so much so that my wife does not have to work. I've noticed more and more now that I'm spending on silly things even when I don't really need them, simply to not have money in my pocket. I used to be a very thrifty and frugal person who could survive on very little money, how do I get back into that frame of mind? if I know I have money on me I have to spend it. Do you think it's a good idea that I should maybe start small and try and save £50 per week just to you know, let me see the rewards of saving?

Thanks a lot for your help.

Answer 1

Tell yourself this "the money I have now is due to hard earned money which I had worked for long hours at the expense of my  personal life style and values. I need to start saving in order to have a better life style later on."

Answer 2

Are you kidding me?

Grow up and wise up.

Answer 3

Have a savings account with automatic deposits or simply move money to it the first thing every payday. It's still there if you really, really need it, but it won't be in your pocket begging to get out.

Answer 4

I think you may have just answered your own question. Start a savings account. Nobody says it has to have "x" number of dollars in it by a certain date. No pressure.

Just watch the numbers rise as you put something into it each week; by 'something' ... I mean it could even be as little as ten bucks a week.

Want a little hint on how to get the most out of your trip to the bank? Try to make a personal challenge to have only rounded numbers in your account book.

In other words, always round UP. If you're new deposit brings the account to $243? Push it to $245. It sounds like a little but a little adds up quickly.

I was going to suggest that a person can't resist an urge to spend money on things they don't need until they've needed something they cannot afford. But you did say you've already experienced that. Try to recall what it was like. It ain't pretty. ;)

Answer 5

One other user had right idea. Do not take credit cards with you and very little cash.  I have even heard of putting your credit card in a plastic contain of water.  Freeze it. If you want something you have to pull out the container and wait for it to unfreeze before you can go buy.  You have to let if thaw naturally (no HELP).  

Talk with your wife about things before you buy them. Anything over say $50 will require both of you to agree. Not over the phone but sitting down in person.  

Do you owe on you house? Do you own a house? Do you owe on your vehicles?  Do you have any other debts?  These are all good things to put some of that extra money toward.

Do you have direct deposit of your paycheck?  You can have a specificed amount automatically put into a savings account or your bank can transfer a specificed amount each month to savings from checking.  This will help grow the savings. As you see that each month it should give you some satisfaction. Set a goal for a desired amount.  When you reach that amount you can then spend x$ from your next check on something even if you do not "need" it.  Set your next goal and keep saving or paying down on debt.

Having your house completely paid for is the best feeling in the world.

Answer 6

DO NOT CARRY EXCESS CASH OR AND ATM CARD.  MAKE A LIST AND BRING EXACTLY WHAT YOU NEED.

Answer 7

Don't take money or ccards out with you. Just take exactly what you need for the day. Once you realise you have to go home then back to the shops to buy whatever you've spotted, it'll make you think twice and nine times out of ten you won't feel like bothering.

Answer 8

Never take a credit card with you .. when u have to hand over real money ..you won`t want to spend so freely ... also why doesn`t your wife get a job and put her salary into a savings account ?? it seems mad not to work if she`s able to .