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I need cash fast.. But how?
"I need cash fast.. But how?"

Simple Spending Habits for Those Who Struggle

If your finances are in rough shape, there’s a good chance you’re spending too much on a regular basis. Fortunately, replacing bad habits with good ones doesn’t have to be difficult. These four are a great place to start.

Don’t Get Down on Yourself
This may sound like we’re being soft on you, but the truth of the matter is that being too hard on yourself actually results in more of the same bad behavior. Think about it: have you ever slipped on your diet, beaten yourself up over it and then found yourself eating more unhealthy foods instead of hitting the gym?

The same applies to your spending habits. If you give into an impulse buy, accept what has happened and commit to making it the last time it does. Nothing positive will come from putting yourself through the mental wringer.

Create an Obstacle Between Your Money and Bad Decisions
One reason it’s so easy to be impulsive when shopping is because you’ve spent so many years doing so, you hardly need to think about. You see something you want, you automatically grab it, walk to the counter (or put in the online shopping card), take out your card and pay. Before you know it, you have something you don’t really need and less money for it.

To keep this from happening, put some kind of obstacle in the way. By simply interrupting the habit, you’ll have an opportunity to stop an impulse buy in its tracks.

For example, if you’re going out on the town with some friends, leave your plastic at home and now you can only use cash. When you’re at home, leave your plastic in the car, so you can’t grab it so easily to order a pizza.

Make Lists and Time Limits
Anytime you go to the grocery store or a department store, make a list of what you’ll be buying beforehand. This will help keep you from wandering the aisles and finding more things you “need.”

For even better results, give yourself a reasonable time limit. You don’t need to be running your cart around the place like Mad Max, but the implied rule is that once the alarm on your phone goes off, it’s time to leave the store. This will also curtail wandering greatly.

Start Investing More
Investing is an important way to prepare for your future and life after retirement. One simple habit that will help cut down on unnecessary spending is to simply put that money somewhere you can’t reach it. And what better place than in some kind of investment vehicle that will grow that money for you?

You can also use something like a CD (Certificate of Deposit) which is basically like telling the bank to hold onto a sum of money for a short period of time (as short as six months). They offer better interest rates than a savings account and generally won’t give the money back to you unless you accept a large penalty.

Start off with these simply spending habits and it shouldn’t be long before your finances give you a lot to feel good about.

Author - Matthew

Writer & researcher -

With 8 years of experience Matthew Miller has written financial content and guided Internet visitors to the right financial products. With a board contact network of experts Matthew creates authoritative guides and advice articles. Read more »

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