Avoiding unnecessary spending

[raaman]

While going for shopping if you go with a list of items to be purchased, you can very well avoid spending money on unnecessary things. I always do this.

 

[Monster Masterpiece]

The problem if you purchase with credit card you won't fell that you are spending money for purchases so you fell as you get them for free unlike seeing money out of your pocket money that differs in feeling.

 

[Spencer]

Shopping with a list is equivalent with budget, it's important to be able to shop knowing what to buy from the get go, it will prevent you from impulsive spending, which can help you save money.

You can write your shopping list on the paper/notebook or on an app in your phone so that you'll have access to it on the go, we tend to be more disciplined when we write things down than just relying on your brain.

 

[Mika]

What exactly is necessary spending and what is unnecessary spending, you need the ability to differentiate between these two. For major things like rents, bills, you can easily include them in necessary spending, and for things like dining in a restaurant, going to a cinema, you might include them in unnecessary spending. But sometimes it is difficult. For instance, would you place tea/coffee in necessary spending or unnecessary spending.